Economy of South Asia

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Last edited September 6, 2023

Template:Infobox economy

Development of GDP per capita of economies in South Asia

The economy of South Asia comprises 2 billion people (25% of the world population) living in eight countries (though Afghanistan is sometimes excluded).[1][2] It was historically one of the richest regions in the world, comprising 25% of world GDP as recently as 1700,[3] but experienced significant de-industrialisation and a doubling of extreme poverty during the colonial era of the late 18th to mid-20th century.[4] In the post-colonial era, South Asia has grown significantly, with India advancing because of economic liberalisation from the 1980s onwards,[5] and extreme poverty now below 15% in the region.[6] South Asia has been the fastest-growing region of the world since 2014.[7]

History

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Ancient and medieval era

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Colonial era

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Modern era

India is the largest economy in the region (US$3.535 trillion) and makes up almost 80% of the South Asian economy; it is the world's 5th largest in nominal terms and 3rd largest by purchasing power adjusted exchange rates (US$11.745 trillion).[8] India is the member of G-20 major economies and BRICS from the region. It is the fastest-growing major economy in the world and one of the world's fastest registering a growth of 7.2% in FY 2022-23.[9]

India is followed by Bangladesh, which has a GDP of ($411 billion) and a GDP per capita of $2,554, which is 4th in the region above India and Pakistan. It has the fastest GDP growth rate in Asia. It is one of the emerging and growth-leading economies of the world, and is also listed among the Next Eleven countries. It is also one of the fastest-growing middle-income countries. It has the world's 33rd largest GDP in nominal terms and is the 27th largest by purchasing power adjusted exchange rates ($1.015 trillion). Bangladesh's economic growth was 6.4% in 2022.[10] Pakistan has an economy of ($314 billion) and ranks 5th in GDP per capita in the region.[11] Next is Sri Lanka, which has the 2nd highest GDP per capita and the 4th largest economy in the region.

Certain parts of South Asia are significantly wealthier than others; the four Indian states of Maharashtra, Tamil Nadu, Gujarat and Karnataka are projected to account for almost 50% of India's GDP by 2030, while the five South Indian states comprising 20% of India's population are expected to contribute 35% of India's GDP by 2030.[12]

The major stock exchanges in the region are Bombay Stock Exchange (BSE) with market Capitalization of $3.5 trillion (10th largest in the world), National Stock Exchange of India (NSE) with market capitalization of $3.55 trillion (9th largest in the world), Dhaka Stock Exchange (DSE), Colombo Stock Exchange (CSE), and Pakistan Stock Exchange (PSX) with market capitalization of $72 billion. Economic data is sourced from the International Monetary Fund, current as of April 2017, and is given in US dollars.[13]

India is home to the Indian Premier League, which is the second-most valued sports league in the world on a per-match basis.[14]

Country

[15][16][17]

GDP Inflation

(2022)[18]

HDI
Nominal GDP(in millions) (2022) (%Share)[19] GDP per capita

(2022)[20]

GDP (PPP)(in millions) (2022) (%Share) GDP (PPP) per capita (2022) GDP growth

(2022)[21]

HDI

(2019)[22]

Inequality-adjusted HDI (2019)[23]
Template:Country[24] $20,136 (2020) $611 (2020) $80,912 (2020) $2,456 (2020) -2.4% (2020) 5.6% (2020) Template:Increase0.478 (low) No data
Template:Country $460,751 (10.41%) $2,734 $1,345,646 (8.97%) $7,985 7.2% 6.1% Template:Increase0.661 (medium) Template:Increase0.465 (low)
Template:Country $2,707 (0.06%) $3,562 $9,937 (0.07%) $13,077 4.0% 7.7% Template:Increase0.666 (medium) Template:Increase0.450 (low)
Template:Country $3,468,566 (78.35%) $2,466 $11,665,490 (77.74%) $8,293 6.8% 6.9% Template:Increase0.633 (medium) Template:Increase0.538 (low)
Template:Country $5,900 (0.13%) $15,097 $12,071 (0.08%) $30,888 8.7% 4.3% Template:Increase0.747 (high) Template:Increase0.568 (medium)
Template:Country $39,028 (0.88%) $1,293 $141,161 (0.94%) $4,677 4.2% 6.3% Template:Increase0.602 (medium) Template:Increase0.430 (low)
Template:Country $376,493 (8.50%) $1,658 $1,512,476 (10.08%) $6,662 6.0% 12.10% Template:Increase0.544 (low) Template:Increase0.386 (low)
Template:Country $73,739 (1.67%) $3,293 $318,690 (2.12%) $14,230 -8.7% 48.2% Template:Increase0.782 (high) Template:Increase0.686 (medium)
South Asia[25] $4,427,184 (100%) $2,385 $15,005,471 (100%) $8,085 6.4% 8.1% Template:Increase0.639 (medium) -

Poverty

Template:See also Poverty rates vary greatly throughout the region, with a majority of Afghanistan relying on humanitarian aid,[26] and 40% of Sri Lankans slipping into poverty due to the economic crisis that started in 2019.[27]

Country

[28][29][30]

Population below poverty line (at $1.9/day) Global Hunger Index (2021)[31] Population under-nourished (2015)[32] Life expectancy (2019)[33] (global rank) Global wealth report (2019)[34][35][36]
World Bank[37] (year) 2022 Multidimensional Poverty Index Report (MPI source year)[38] Population in Extreme poverty (2022)[39] CIA Factbook (2015)[40] Total national wealth in billion USD (global rank) Wealth per adult in USD Median wealth per adult in USD (global rank)
Template:Country 54.5% (2016) 55.91% (2015–16) 18% 36% 28.3 (103rd) 26.8% 63.2 (160th) 25 (116th) 1,463 640 (156th)
Template:Country 24.3% (2016) 24.64% (2019) 4% 31.5% 19.1 (76th) 16.4% 74.3 (82nd) 697 (44th) 6,643 2,787 (117th)
Template:Country 8.2% (2017) 37.34% (2010) 4% 12% No data No data 73.1 (99th) No Data No Data No Data
Template:Country 21.9% (2011) 16.4% (2019-21) 3% 29.8% 27.5 (101st) 15.2% 70.8 (117th) 12,614 (7th) 14,569 3,042 (115th)
Template:Country 8.2% (2016) 0.77% (2016–17) 4% 16% No data 5.2% 79.6 (33rd) 7 (142nd) 23,297 8,555 (74th)
Template:Country 25.2% (2010) 17.50% (2019) 8% 25.2% 19.1 (76th) 7.8% 70.9 (116th) 68 (94th) 3,870 1,510 (136th)
Template:Country 24.3% (2015) 38.33% (2017–18) 5% 12.4% 24.7 (94th) 22% 69.3 (144th) 465 (49th) 4,096 1,766 (128th)
Template:Country 4.1% (2016) 2.92% (2016) 5% 8.9% 16 (65th) 22% 76.9 (54th) 297 (60th) 20,628 8,283 (77th)

India

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Bangladesh

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Pakistan

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Afghanistan

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Bhutan

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Maldives

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Nepal

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Sri Lanka

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See also

References

  1. ↑ Home to nearly 2 billion people, South Asia could be the next coronavirus hot spot. Washington Post. Retrieved 2023-09-04.
  2. ↑ Indian Involvement in Afghanistan in the Context of the South Asian Security System. Journal of Strategic Security.
  3. ↑ World history by per capita GDP, Chakravarty, Capital Account | Manas. mint(2010-08-25). Retrieved 2023-09-04.
  4. ↑ How British colonialism killed 100 million Indians in 40 years, Hickel, Dylan Sullivan,Jason. www.aljazeera.com. Retrieved 2023-09-04.
  5. ↑ 25 years of liberalisation: A glimpse of India’s growth in 14 charts-Business News , Firstpost. Firstpost. Retrieved 2023-09-04.
  6. ↑ South Asia https://databankfiles.worldbank.org/
  7. ↑ How South Asia can continue as world’s fastest growing subregion - Lei Lei Song. Asian Development Bank. Retrieved 2023-09-04.
  8. ↑ Report for Selected Countries and Subjects. imf.org. IMF. Outlook Database, October 2018
  9. ↑ India’s GDP expanded 6.1% in 2022-23’s last quarter. The Hindu. Retrieved 2023-09-01.
  10. ↑ Global Finance Magazine - Countries with Highest GDP Growth 2022, Ventura, Luca. Global Finance Magazine. Retrieved 2023-09-01.
  11. ↑ Welcome to WorldBank Group. World Bank. Retrieved 23 August 2010.
  12. ↑ Southern states to contribute 35% of India’s $7 trillion economy by 2030. The Times of India. Retrieved 2023-09-06.
  13. ↑ Report for Selected Countries and Subjects. www.imf.org. Retrieved 7 November 2017.
  14. ↑ Indian Premier League’s Jaw-Dropping $6 Billion Broadcast Deal Will Have Major Ramifications In Cricket, Lavalette, Tristan. Forbes. Retrieved 2023-09-04.
  15. ↑ Field Listing :: Names. CIA. Retrieved 28 July 2011.
  16. ↑ UNGEGN List of Country Names. United Nations Group of Experts on Geographical Names. Retrieved 28 July 2011.
  17. ↑ List of countries, territories and currencies. Europa. Retrieved 10 August 2011.
  18. ↑ World Economic Outlook (October 2022) – Inflation rate, average consumer prices. IMF. Retrieved 28 November 2022.
  19. ↑ World Economic Outlook – GDP current prices, in billions of dollars. Retrieved 28 November 2022.
  20. ↑ World Economic Outlook – GDP current prices, per capita. Retrieved 28 November 2022.
  21. ↑ World Economic Outlook (October 2022) – Real GDP growth. IMF.
  22. ↑ Human Development Report 2020 The Next Frontier: Human Development and the Anthropocene{{#if:|, {{{last}}}}. United Nations Development Programme. ISBN 978-9-211-26442-5
  23. ↑ Inequality-adjusted HDI (IHDI). hdr.undp.org. UNDP. Retrieved 23 September 2020.
  24. ↑ Last update for Afghanistan from the World Economic Outlook is for 2020. Later years are unavailable.
  25. ↑ Individual country percentages may not add up to 100% due to rounding. Afghanistan not included in 2022 totals due to year mismatch. World Economic Outlook also does not count Afghanistan in the South Asia subtotals.
  26. ↑ Afghanistan: An entire population pushed into poverty | International Rescue Committee (IRC). www.rescue.org. Retrieved 2023-09-04.
  27. ↑ Over 9 Million Sri Lankans Have Slipped Into Poverty Since January, Finds Study. The Wire. Retrieved 2023-09-04.
  28. ↑ Field Listing :: Names. CIA. Retrieved 28 July 2011.
  29. ↑ UNGEGN List of Country Names. United Nations Group of Experts on Geographical Names. Retrieved 28 July 2011.
  30. ↑ List of countries, territories and currencies. Europa. Retrieved 10 August 2011.
  31. ↑ Global Hunger Index Scores by 2021 GHI Rank. www.globalhungerindex.org. Retrieved 2 March 2022.
  32. ↑ UN. Retrieved 3 June 2015.
  33. ↑ GHO | by category | Life expectancy and Healthy life expectancy - Data by country. apps.who.int. Retrieved 2 March 2022.
  34. ↑ Global wealth report. www.credit-suisse.com. Credit Suisse. Retrieved 25 October 2019.
  35. ↑ Global wealth report 2019. Credit Suisse. Retrieved 25 October 2019.
  36. ↑ Global wealth databook 2019. Credit Suisse. Retrieved 25 October 2019.
  37. ↑ Poverty headcount ratio at national poverty lines (% of population) | Data. data.worldbank.org. Retrieved 26 August 2017.
  38. ↑ Template:Cite report
  39. ↑ World Poverty Clock. worldpoverty.io. Retrieved 27 February 2022.
  40. ↑ The World Factbook — Central Intelligence Agency. www.cia.gov. Retrieved 23 August 2016.

Template:Asia in topicTemplate:South Asian topics

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