Dhaka v/s Kolkata

[dray]

One area we haven't discussed so far is the cultural aspects of the two cities, can we discuss about quality cinemas, literature, arts, music, etc.

 

[Anubis]

One area we haven't discussed so far is the cultural aspects of the two cities, can we discuss about quality cinemas, literature, arts, music, etc.

You will beat us in cinema....but we will beat you in modern literature and music....arts is....well arts!

 

[Truth Finder]

World Bank actually relies on the respective national bureaus of the countries for their data, not only World Bank, actually every such international organizations rely on them. India has been using the base year of 2004/05 and so is West Bengal. Bangladesh has just switched into the base year of 2005/6 from the previous one of 1994/95.

World Bank says it's $115.6 billion. Your country says it's $151 Billion. Margin of error more than 30% in GDP calculation.

https://www.google.co.in/#q=gdp+bangladesh

 

[extra terrestrial]

World Bank says it's $115.6 billion. Your country says it's $151 Billion. Margin of error more than 30% in GDP calculation.

Yep, that 2013 figure from World Bank is an estimation, they just estimated it by adjusting the GDP of 2012 with the growth rate, the GDP of previous year was on the base year of 1994/95. They usually collect the actual GDP of a country at the end of the year, while the rest of the year they just show their estimation.

The figure of 151 billion is the latest one published by BBS with the base year of 2005/06. You'll find the same figure in World Bank's website once 2013 ends.

 

[Anubis]

World Bank says it's $115.6 billion. Your country says it's $151 Billion. Margin of error more than 30% in GDP calculation.

https://www.google.co.in/#q=gdp bangladesh

That is because WB is taking 1995-96 as baseline for 2011-2012 FY.BBS is taking 2005-06 base line for 2012-2013 FY.$115 bn is previous fiscal year with old base year.$151 is current fiscal year with new base year!

 

[Truth Finder]

That is because WB is taking 1995-96 as baseline for 2011-2012 FY.BBS is taking 2005-06 base line for 2012-2013 FY.$115 bn is previous fiscal year with old base year.$151 is current fiscal year with new base year!

You cannot wake a person pretending to be asleep.God knows who gave this "base year" theory changing the GDP upto 30%. Ok.

 

[Anubis]

You cannot wake a person pretending to be asleep.God knows who gave this "base year" theory changing the GDP upto 30%. Ok.

Real GDP is GDP evaluated at the market prices of some base year. For example, if 1990 were chosen as the base year, then real GDP for 1995 is calculated by taking the quantities of all goods and services purchased in 1995 and multiplying them by their 1990 prices.

This is the definition of real GDP.
Base year is a real thing and even WB knows it!

When you were looking for data in World Bank website you probably missed the huge header:

link: http://data.worldbank.org/indicator/NY.GDP.DEFL.ZS

 

[Lil Mathew]

That is because WB is taking 1995-96 as baseline for 2011-2012 FY.BBS is taking 2005-06 base line for 2012-2013 FY.$115 bn is previous fiscal year with old base year.$151 is current fiscal year with new base year!

Yep, that 2013 figure from World Bank is an estimation, they just estimated it by adjusting the GDP of 2012 with the growth rate, the GDP of previous year was on the base year of 1994/95. They usually collect the actual GDP of a country at the end of the year, while the rest of the year they just show their estimation.

The figure of 151 billion is the latest one published by BBS with the base year of 2005/06. You'll find the same figure in World Bank's website once 2013 ends.

I think you both got confused between real gdp and nominal gdp......
Nominal GDP of Bengladesh is 115.6 billion USD (2012)...
You can calculate real gdp with gdp deflator based on 1995 or 2005...

 

[extra terrestrial]

I think you both got confused between real gdp and nominal gdp......
Nominal GDP of Bengladesh is 115.6 billion USD (2012)...
You can calculate real gdp with gdp deflator based on 1995 or 2005...

Nope, Bangladesh's nominal GDP or GDP in current prices stands at $153.58 billion in 2013.

http://www.thedailystar.net/beta2/news/gdp-swells-per-capita-income-crosses-1000/

 

[Soms]

We all can get mired in the GDP battle easily. (actually the term City GDP is murky....one shell company dispensing profits can add hugely to a city)

Unilever changing its HQ from CTG to DAC would have radically changed the "City GDP" (eventhough one doesn't have city based figues for BD)

A similar thing might happen if ..god forbid....ITC shifts from Kolkata!

 

[Lil Mathew]

Nope, Bangladesh's nominal GDP or GDP in current prices stands at $153.58 billion in 2013.

http://www.thedailystar.net/beta2/news/gdp-swells-per-capita-income-crosses-1000/

That article is about the real gdp ,not nominal gdp...

 

[extra terrestrial]

That article is about the real gdp ,not nominal gdp...

The article says the figure is on current prices, in other words Nominal GDP.

BTW if you're saying 153.58 billion is our real GDP then nominal GDP would be even higher.

 

[rongbaz]

Whatever the statistics, that can't depict the real picture, because gdp calculation has lot of limitations.

 

[Lil Mathew]

The article says the figure is on current prices, in other words Nominal GDP.

BTW if you're saying 153.58 billion is our real GDP then nominal GDP would be even higher.

The nominal GDP of a given year is computed using that year's prices, while the real GDP of that year is computed using the base year's prices...
That is for the calculation of nominal GDP is independent of base year... If your GDP deflator is less than 100 percent nominal GDP become less than real GDP, that is always nominal GDP is not greater than real gdp.... But due to inflation the nominal is seen always greater than real gdp... Anyway Nominal gdp of bangladesh is 115.6 billion USD (2012).. This 153 billion USD some thing other...

 

[extra terrestrial]

The nominal GDP of a given year is computed using that year's prices, while the real GDP of that year is computed using the base year's prices...
That is for the calculation of nominal GDP is independent of base year... If your GDP deflator is less than 100 percent nominal GDP become less than real GDP, that is always nominal GDP is not greater than real gdp.... The article giving real gdp on current prices basis of prices in 2005... Okk...

Dude, you have simply lost it! Nominal GDP actually relies on base years and is also termed as "GDP on current prices". There is nothing like "real gdp on current prices". "Real GDP" or "GDP on constant prices" comes by adjusting the nominal GDP with the inflation which as a result shrinks the total amount. That's the reason why Nominal GDP shows a higher figure than real GDP.