Bangladesh’s Impressive Economy Boasts $31 Billion in Foreign Reserves, While Pakistan Struggles with Approximately $4 Billion.
According to a report, Bangladesh has surpassed Pakistan in various economic aspects. Recently, Bangladesh announced a federal budget of $71 billion for the fiscal year 2023-24. It has set a growth rate target of 7.5% and projected an average inflation rate of 6.5%. In contrast, Pakistan’s foreign exchange reserves are below $4 billion, while Bangladesh starts the new fiscal year with reserves of approximately $31 billion.
Bangladesh’s exports have reached $52 billion, whereas Pakistan’s exports were limited to $31.78 billion. The budget of Bangladesh aims to achieve an export target of $67 billion, and current data suggests that it is likely to surpass $65 billion. On the other hand, Pakistan had set a target of $38 billion for exports in the fiscal year 2023, but it has only achieved $21.5 billion so far.
The estimated per capita income in Bangladesh for the fiscal year 2023 was around $2675, while in Pakistan, it is projected to be $1568. The Pakistani rupee has remained relatively stable, experiencing only a 0.38 percent depreciation.