Student Name Muhammad Awad Hasan Chowdhury

Student Id 1910573

Course Name Principles of Macroeconomics

Course Title ECN202

Section 1

Countries Name 1. Bangladesh

2. Senegal
Comparison between Bangladesh and Senegal:
In this assignment, I will compare these two countries from 4 perspectives.
1. GDP per capita (Current US$)
2. Unemployment, Total (% of the total labor force)
3. Imports of goods and services (Current US$)
4. Export of goods and services (Current US$)

1. Real GDP per capita (Current US$):

R ea l G D P p er ca p ita (C u rren t U S $ )
Bangladesh GDP per capita(Current US$) Senegal GDP per capita(Current US$)
3000

2500

2000

1500

1000

500

0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Real GDP per capita means a country’s total output divided by the people’s adjustment for
inflation. It’s an important factor to calculate the standard of living and economic well-being. In
this chart, we see Bangladesh’s GDP gradually rising from the beginning. It’s because the
production of domestic products increased and so did consumption, saving, and net exports. We
know that income must equal expenditure. On the other hand, Senegal’s GDP from the beginning
was high and in 2015, it falls to 1219.25, and then the others were closer to each other. It might
happen of low production or negative net exports or private and public consumption low and so
on. Another factor differing from the two countries’ data is population. Bangladesh is a big
population country than Senegal. So, the data we are seeing is divided by the big population of
Bangladesh and so it’s low which means the standard of living is low. On the flip side, though
Senegal’s real GDP is low, dividing it by the low amount of population, the result would not be
that low. Furthermore, because the exchange rate is always fluctuating, the entire process is
affected.

2. Unemployment, Total (% of the total labor force):

Unemployment, Total (% of total labor force)

10

0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Senegal Unemployment,Total(% of total labor force) Bangladesh Unemployment,Total(% of total labor force)

The first thing we need to know when calculating the unemployment rate is knowing the total
labor force. The labor force is the sum of a country’s total employed and unemployed. In the
chart, we see Bangladesh’s unemployment rate doesn’t change easily. It fluctuates from year to
year. It is because of cyclical unemployment which is short-term ups and downs. On the other
hand, Senegal overcame their unemployment issue in 2016 and still going. The chart shows the
percentage of the labor force. From time to time, the labor force of Bangladesh was high than
Senegal’s. So, if we do the calculation which isn’t fair because of the total labor force,
Bangladesh’s unemployed amount is comparatively high because of a massive labor force. Some
labor force is seeking work but then again fall under the unemployment rate. Some labor force
took a break for some time and looking for a job that is suitable for them also falls under this
criterion. Also, minimum wage laws trigger the unemployment rate.
 3. Imports and Exports of goods and services (Current US$):

Imports and Exports (Current US$) Imports and Exports (Current US$)
80000000000 12000000000
70000000000 10000000000
60000000000 Bangladesh Imports of Senegal Imports of
50000000000 goods and services (cur- 8000000000 goods and services (cur-

Axis Title
Axis Title

40000000000 rent US$) 6000000000 rent US$)

30000000000 Bangladesh Exports of 4000000000 Senegal Exports of goods
20000000000 goods and services (cur- and services (current
10000000000 2000000000
rent US$) US$)
0 0
12 14 16 18 20 12 14 16 18 20
20 20 20 20 20 20 20 20 20 20
Axis Title Axis Title

A country’s net export (Value of export- Value of import) is directly connected to its GDP. Both
of the charts show the trade deficit of these two countries because the Imports amount exceeds
the Exports amount. In Bangladesh’s data, the import and export both are growing together on
their track which means the economy is growing but from 2019-2021, the difference between
these two was negatively high. This means the domestic currency of Bangladesh was negatively
affected and because all thing is connected, it causes inflation, and importing goods will be
costly against the US currency. In general, if we compare the countries’ imports and exports, we
see that Senegal has the highest export amount and on the other hand, Bangladesh has the highest
import amount.