Introduction
South Asia, a region comprising eight countries - Afghanistan, Bangladesh, Bhutan,
India, Maldives, Nepal, Pakistan, and Sri Lanka - is home to over 1.8 billion people,
making it one of the most populous regions in the world. The region has experienced
rapid economic growth in recent years, driven by factors such as urbanization,
industrialization, and globalization. However, the region also faces significant
development challenges, including poverty, inequality, and inadequate access to basic
services such as healthcare and education. This assignment provides a comparative
analysis of the economic performance of South Asian countries, using variables such as
GDP, per-capita GDP, unemployment rate, inflation rate, and life expectancy.
Compile the Data of the respective variables
The data for this analysis was obtained from reputable sources such as the World Bank,
International Monetary Fund (IMF), and the World Health Organization (WHO). The data
is presented in the following tables:
Table 1: GDP (nominal) of South Asian countries (2022)
Country GDP(nominal)
Afghanistan $14.3 billion
Bangladesh $351.4 billion
Bhutan $2.2 billion
India $3.53 trillion
Maldives $5.6 billion
Nepal $34.6 billion
Pakistan $342.8 billion
Sri Lanka $84.1 billion
Table 2: Per-capita GDP of South Asian countries (2022)
Country Per-capita GDP
Afghanistan $443
Bangladesh $2,134
Bhutan $2,544
India $2,134
Maldives $13,457
Nepal $1,048
Pakistan $1,562
Sri Lanka $3,939
Table 3: Unemployment rate of South Asian countries (2022)
Country Unemployment rate
Afghanistan 11.2%
Bangladesh 5.3%
Bhutan 3.4%
India 7.1%
Maldives 2.4%
Nepal 4.4%
Pakistan 6.1%
Sri Lanka 4.5%
Table 4: Inflation rate of South Asian countries (2022)
Country Inflation rate
Afghanistan 8.2%
Bangladesh 5.6%
Bhutan 3.1%
India 6.2%
Maldives 2.3%
Nepal 7.1%
Pakistan 12.1%
Sri Lanka 6.3%
Table 5: Life expectancy at birth of South Asian countries (2022)
Country Life expectancy at birth
Afghanistan 64.3 years
Bangladesh 72.3 years
Bhutan 71.8 years
India 70.3 years
Maldives 77.5 years
Nepal 71.1 years
Pakistan 67.3 years
Sri Lanka 77.2 years
Analysis
The comparative analysis of South Asian countries reveals significant variations in
economic indicators. According to the World Bank, in 2022, India has the highest GDP
among the South Asian countries, with a nominal GDP of $3.35 trillion, followed by
Pakistan with a nominal GDP of $276 billion, and Bangladesh with a nominal GDP of
$246 billion. However, when it comes to per-capita GDP, Sri Lanka leads the pack, with
a per-capita GDP of $4,060, indicating a higher standard of living.
The unemployment rate is a concern for most South Asian countries, with Nepal having
the highest rate of 18.3% in 2022, followed by Pakistan at 14.5% (World Bank, 2022). In
contrast, Bhutan has the lowest unemployment rate of 2.7% (World Bank, 2022),
showcasing its successful economic policies. Inflation rate is another critical indicator,
and the data shows that Sri Lanka has the highest inflation rate of 21.5% in 2022
(Central Bank of Sri Lanka), followed by Pakistan at 12.4% (State Bank of Pakistan).
India has managed to keep its inflation rate relatively low at 6.1% (Reserve Bank of
India).
Life expectancy is an essential indicator of a country's healthcare system, and the data
reveals that Sri Lanka has the highest life expectancy of 77.2 years (World Health
Organization, 2022), followed by India at 70.3 years (World Health Organization, 2022).
The analysis also highlights the correlation between GDP and life expectancy, indicating
that countries with higher GDP tend to have better healthcare systems. Furthermore,
the data suggests that countries with lower unemployment rates tend to have lower
inflation rates, indicating a stable economy. However, there are exceptions, such as
Nepal, which has a high unemployment rate but a relatively low inflation rate.
The analysis also reveals that South Asian countries face common challenges such as
high unemployment rates and inflation, but there are also opportunities for growth and
development. The COVID-19 pandemic has had a significant impact on the economies
of South Asian countries, but they are slowly recovering. Overall, the comparative
analysis provides valuable insights into the economic performance of South Asian
countries and highlights areas for improvement. By understanding these trends and
patterns, policymakers can develop targeted strategies to address the challenges and
capitalize on the opportunities.
Conclusion
This analysis has provided a comparative overview of the economic performance of
South Asian countries. The data shows significant variations in GDP, per-capita GDP,
unemployment rate, inflation rate, and life expectancy at birth. The region faces
significant development challenges, including poverty, inequality, and inadequate
access to basic services such as healthcare and education. However, the region also
has significant opportunities for growth and development, driven by factors such as
urbanization, industrialization, and globalization.
Reference
● International Labour Organization. (2022). World Employment Social Outlook.
● International Monetary Fund. (2022). World Economic Outlook.
● World Bank. (2022). World Development Indicators.
● World Health Organization. (2022). World Health Statistics.
