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    Tahmina Akter: (Lecturer, Department of Economics) Bangladesh University of Business and Technology (BUBT)

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    Tahmina Akter: (Lecturer, Department of Economics) Bangladesh University of Business and Technology (BUBT)

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    XOPY

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    GDP - Copy - Copy

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    Tahmina Akter: (Lecturer, Department of Economics) Bangladesh University of Business and Technology (BUBT)

    Uploaded by

    songitmondol69
    XOPY

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    of 7

    Assignment On

    "Comparative Analysis of Bangladesh and United States of America (USA) Nominal and Real
    GDP,GNP, Inflation, and Unemployment Rates (2015-2020)"

    Supervised by:

    Tahmina Akter
    (Lecturer, Department of Economics)

    Bangladesh University of Business and Technology (BUBT)


    Group members list :

    Name ID Intake/Section
    Md.Aminul Islam Alif 22231101052 59/2

    Songit Mondol 22231101080 59/2

    Lima 22231101056 59/2

    Nafisa Nahar Neha 22231101086 59/2

    Israt Jahan Eima 22231101088 59/2

    Date of Submission: 22th September, 2024


    Definition of Nominal GDP:
    Nominal Gross Domestic Product (GDP) measures the total value of all goods and
    services produced within a country's borders, without adjusting for inflation. It
    represents the market value at current prices. The nominal GDP does not account
    for price changes or inflation, meaning it can overstate or understate growth if
    inflation or deflation occurs.

    Bangladesh Nominal United States of


    Year GDP (USD Billions) America (USA) Nominal
    GDP (USD Trillion)
    2020 305.55 21
    2019 274.03 21.4
    2018 250.95 20.5
    2017 220.78 19.5
    2016 208.56 18.5
    2015 195.58 18

    Note: During 2015-2020, the USA's nominal GDP consistently surpassed


    Bangladesh's, underscoring its expansive economic scale and diverse industrial
    base. While Bangladesh's rapid growth is impressive, the USA's larger economic
    output and broad array of industries highlight its dominant economic position on
    the global stage.

    Definition of Real GDP:


    Real GDP is the total value of all goods and services produced in a country,
    adjusted for inflation, using constant prices from a base year. It reflects the true
    growth in an economy by removing the effects of price changes, allowing for more
    accurate comparisons over time.

    Bangladesh Banglades United States United


    Year Real GDP h of America States of
    (USD Billions) GDP (USA) Real America
    Growth GDP (USD (USA) GDP
    (Annual %) Trillion) Growth
    (Annual %)
    2020 270 3.4% 19.5 -3.4 (due
    to the
    COVID-19
    pandemic)
    %
    2019 261 7.9% 19 2.3%
    2018 242 7.9% 18.5 2.9%
    2017 224 7.3% 17.7 2.4%
    2016 208 7.2% 17.3 1.6%
    2015 195 6.6% 17 3.1%

    Note : Bangladesh's economy has shown remarkable resilience and growth,


    especially in comparison to the United States. In 2020, the U.S. GDP was
    approximately $21 trillion, dwarfing Bangladesh's $324 billion. However,
    Bangladesh's real GDP growth rates often outpaced those of the U.S., driven by its
    robust manufacturing sector, particularly in textiles, and significant strides in
    poverty reduction. While the U.S. economy remains larger and more diversified,
    Bangladesh's rapid growth is narrowing the gap in terms of economic dynamism,
    highlighting its potential on the global stage.
    Definition of GNP:

    Gross National Product (GNP): Unlike GDP, which only includes production
    within a country's borders, GNP includes the value of goods and services produced
    by the citizens of a country, whether inside or outside the country. GNP accounts
    for net income from abroad (i.e., income earned by citizens abroad minus income
    earned by foreigners domestically).

    Bangladesh GNP (USD United States of


    Year Billions) America (USA) (USD
    Trillion)
    2020 340 21.6
    2019 410 21.5
    2018 390 20
    2017 370 19.1
    2016 350 18.7
    2015 340 18.5

    Note:From 2015 to 2020, the USA's GNP was significantly higher than
    Bangladesh's, reflecting a more extensive and developed economy. The USA's
    GNP rose from about $18 trillion to approximately $21 trillion, while Bangladesh's
    GNP increased from $340 billion to around $400 billion. This substantial GNP for
    the USA illustrates its larger economic scale and diversity, while Bangladesh's
    impressive growth underscores its strengthening economic position and potential
    for future development.
    Definition of Inflation Rate:

    Inflation Rate: Inflation measures the rate at which the general price level of goods
    and services rises over time. A higher inflation rate increases nominal GDP, as the
    total market value increases, even if the real output remains unchanged.

    Bangladesh Inflation Rate United States of


    Year (%) America (USA)
    Inflation Rate (%)
    2020 5.7 1.2
    2019 5.6 1.8
    2018 5.8 2.4
    2017 5.8 2.1
    2016 5.9 1.3
    2015 6.0 0.1

    Note: From 2015 to 2020, Bangladesh had relatively stable inflation rates,
    generally ranging from 5% to 6%, indicating steady but moderate price increases.
    In contrast, the USA experienced more fluctuations, with inflation rates varying
    from around 0.1% to 7%. Bangladesh's stable inflation suggests a more consistent
    economic environment, while the USA's variable inflation reflects greater
    economic dynamics and challenges, particularly during periods of economic
    disruption. Both countries managed inflation differently, adapting their monetary
    policies to their specific economic conditions and needs.
    Definition of Unemployment Rate:

    The unemployment rate measures the share of workers in the labor force who do
    not currently have a job but are actively looking for work. People who have not
    looked for work in the past four weeks are not included in this measure.

    Bangladesh United States of


    Year Unemployment America (USA)
    Rate (%) Unemployment Rate (%)
    2020 5.0 8.1 (due to the COVID-
    19 pandemic)
    2019 4.1 3.7
    2018 4.0 3.9
    2017 4.1 4.4
    2016 4.2 4.9
    2015 4.4 5.3

    Note: From 2015 to 2020, Bangladesh generally had lower unemployment rates
    compared to the USA. Bangladesh's rates ranged from about 4% to 5%, while the
    USA's rates fluctuated between approximately 3% and 8%. The lower
    unemployment in Bangladesh indicates a relatively stable job market, while the
    USA experienced more volatility, particularly during economic disruptions like the
    COVID-19 pandemic. To effectively address unemployment, both countries can
    benefit from targeted job creation programs, skills development initiatives, and
    economic reforms that cater to their unique circumstances.

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