Pakistan and Bangladesh: Comparative Economic Analysis (1971-2020)

Abstract

The aim of this paper is to examine and conduct a comparative economic analysis between Pakistan and Bangladesh based on different economic indicators from 1971 to 2020. The methodology used in this study is primarily qualitative, with data mainly obtained from secondary sources. The findings of the study suggested that in terms of economic and social development, Bangladesh clearly surpassed Pakistan in all the domains. Bangladesh’s progressive and consistent economic approach with emphasis on economic empowerment of their population was the key towards Bangladesh’s success. Bangladesh dominated the following economic indicators: Current account balance, GDP growth rate, GDP per capita growth rate, and social development. In contrast, Pakistan lacked behind due to immersive political and economic instability caused by inconsistent political regimes and economic policies. The findings revealed that Pakistan’s: Exports % of GDP, Trade balance, Net income, Current account balance, GDP annual growth rate, GDP per capita annual growth rate, portrayed better performance in the first economic phase (1971-2000) than in the second economic phase (2000-2020).