Economy of Pakistan 46rd Largest Economy in World
Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the world’s fifth-most populous country, with a population exceeding 225.1 million, and has the world’s second-largest Muslim population. Pakistan is the 33rd-largest country by area, spanning 881,913 square kilometres
What Is an Economy?
An economy is the large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated. The production, consumption, and distribution of goods and services are used to fulfill the needs of those living and operating within the economy, which is also referred to as an economic system.
Currency Of Pakistan
Trade Organizations Of Pakistan
| ECO, SAFTA, WTO, AIIB, ADB and others |
Country group
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Statistics
What is the population of Pakistan in 2021?
GDP Of Pakistan
Gross Domestic Product (GDP) of Pakistan
| Year | GDP Nominal (Current USD) |
GDP Real (Inflation adj.) |
GDP change |
GDP per capita | Pop. change |
Population |
|---|---|---|---|---|---|---|
| 2017 | $304,951,818,494 | $240,856,714,914 | 5.70% | $1,158 | 2.10 % | 207,906,209 |
| 2016 | $278,654,637,738 | $227,866,886,766 | 5.53% | $1,119 | 2.11 % | 203,631,353 |
| 2015 | $270,556,126,820 | $215,932,848,621 | 4.73% | $1,083 | 2.11 % | 199,426,964 |
| 2014 | $244,360,888,751 | $206,178,251,481 | 4.67% | $1,056 | 2.11 % | 195,305,013 |
| 2013 | $231,218,567,179 | $196,970,457,771 | 4.40% | $1,030 | 2.13 % | 191,260,806 |
| 2012 | $224,383,620,830 | $188,675,424,552 | 3.51% | $1,007 | 2.15 % | 187,280,129 |
| 2011 | $213,587,413,184 | $182,282,709,027 | 2.75% | $994 | 2.18 % | 183,340,174 |
| 2010 | $177,406,854,515 | $177,406,854,515 | 1.61% | $989 | 2.22 % | 179,424,641 |
| 2009 | $168,152,775,283 | $174,601,545,522 | 2.83% | $995 | 2.26 % | 175,525,609 |
| 2008 | $170,077,814,106 | $169,793,571,392 | 1.70% | $989 | 2.29 % | 171,648,986 |
| 2007 | $152,385,716,312 | $166,953,023,525 | 4.83% | $995 | 2.31 % | 167,808,105 |
| 2006 | $137,264,061,106 | $159,256,450,281 | 6.18% | $971 | 2.32 % | 164,022,627 |
| 2005 | $109,502,102,511 | $149,990,711,055 | 7.67% | $936 | 2.32 % | 160,304,008 |
| 2004 | $97,977,766,198 | $139,309,432,952 | 7.37% | $889 | 2.33 % | 156,664,697 |
| 2003 | $83,244,801,093 | $129,748,800,034 | 4.85% | $848 | 2.37 % | 153,093,373 |
| 2002 | $72,306,820,396 | $123,751,409,564 | 3.22% | $827 | 2.45 % | 149,549,700 |
| 2001 | $72,309,738,921 | $119,885,776,649 | 1.98% | $821 | 2.55 % | 145,978,402 |
| 2000 | $73,952,374,970 | $117,555,262,344 | 4.26% | $826 | 2.68 % | 142,343,578 |
| 1999 | $62,973,855,719 | $112,751,930,855 | 3.66% | $813 | 2.80 % | 138,624,621 |
| 1998 | $62,191,955,814 | $108,770,776,064 | 2.55% | $807 | 2.89 % | 134,843,233 |
| 1997 | $62,433,300,338 | $106,065,848,423 | 1.01% | $809 | 2.91 % | 131,057,431 |
| 1996 | $63,320,122,807 | $105,000,725,251 | 4.85% | $825 | 2.89 % | 127,349,290 |
| 1995 | $60,636,022,423 | $100,147,018,592 | 4.96% | $809 | 2.84 % | 123,776,839 |
| 1994 | $51,894,781,282 | $95,412,089,508 | 3.74% | $793 | 2.80 % | 120,362,762 |
GDP Of 2021
294.00 USD Billion Of 2021
GDP ranking
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GDP per capita
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GDP per capita rank
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Gdp By Sector
Agriculture: 19.19% Industry: 19.12% Services: 61.68% (2021 est)
Inflation (Cpi) Of Pakistan
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index.
8.4% (July 2021) Inflation rate in Pakistan
Base Borrowing Rate
Bank rate, also known as discount rate in American English, is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country, and has changed over time in some countries as the mechanisms used to manage the rate have changed.
Whenever a bank has a shortage of funds, they can typically borrow from the central bank based on the monetary policy of the country. The borrowing is commonly done via repos: the repo rate is the rate at which the central bank lends short-term money to the banks against securities. It is more applicable when there is a liquidity crunch in the market. In contrast, the reverse repo rate is the rate at which banks can park surplus funds with the reserve bank, which is mostly done when there is surplus liquidity.
7.00% (September 2020) Bank rate in Pakistan
Population Below Poverty Line
The poverty threshold, poverty limit, poverty line or breadline, is the minimum level of income deemed adequate in a particular country. The poverty line is usually calculated by finding the total cost of all the essential resources that an average human adult consumes in one year. The largest of these expenses is typically the rent required for accommodation, so historically, economists have paid particular attention to the real estate market and housing prices as a strong poverty line affect. Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc. The poverty threshold may be adjusted annually. In practice, like the definition of poverty, the official or common understanding of the poverty line is significantly higher in developed countries than in developing countries.
In October 2015, the World Bank updated the International Poverty Line (IPL), a global absolute minimum, to $1.90 per day. By this measure, the percentage of the global population living in absolute poverty fell from over 80% in 1800 to 10% by 2015, according to United Nations estimates, which found roughly 734 million people remained in absolute poverty.
Below Poverty line in Pakistan
- 35.1% on less than $3.20/day (2015)
0.5% in extreme poverty (December 2020)
(World Poverty Clock estimate)
Gini coefficient Of Pakistan
In economics, the Gini coefficient, also the Gini index and the Gini ratio, is a measure of statistical dispersion intended to represent the income inequality or the wealth inequality within a nation or a social group. The Gini coefficient was developed by the statistician and sociologist Corrado Gini.
| 31.6 medium (2018, World Bank) |
Human Development Index
The Human Development Index (HDI) is a statistic composite index of life expectancy, education (mean years of schooling completed and expected years of schooling upon entering the education system), and per capita income indicators, which are used to rank countries into four tiers of human development. A country scores a higher HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. It was developed by Pakistani economist Mahbub ul Haq and was further used to measure a country’s development by the United Nations Development Programmed (UNDP)’s Human Development Report Office.
0.557 medium (2019) Ranking (154nd) in World
Labour Force Of Pakistan By Secter
- 75,862,533 (2020)
- 48.9% employment rate (2018)
Labour Force Of Pakistan By Occupation
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23.0%Unemployment of Pakistan
The Pakistani rate of unemployment increased by 6.5 percent, and we can say that one out of every 10 persons in the country are experiencing unemployment. In the year 2020, when the unemployment rate in Pakistan was approximately 4.45 percent, a minor decrease from 4.65 percent the previous year.
- 6.9% (2018-19)
5.8% (2017–18)
Main Industries Of Pakistan
- Textile
- Clothing
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Food processing
- Medication
- Surgical instrument
- List of building materials
- Fertilizer
- Shrimp
- Pulp and paper industry
Ease Of Doing Business Rank Of Pakistan
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Higher rankings (a low numerical value) indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth impact of improving these regulations is strong. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as “founders” of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. The report was discontinued by the World Bank on September 16, 2021, following the release of an independent audit of the data irregularities. The audit documented how bank leadership pressured experts to manipulate the results of the 2018 and 2020 Doing Business Reports.
Pakistan Ease Of Doing Business Rank 108 Medium in World.
External
Exports Of Pakistan
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyer is an importer.
$25.630 billion (FY 2021)
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Imports Of Pakistan
An import is the receiving country in an export from the sending country. Importation and exportation are the defining financial transactions of international trade. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority.
$53.785 billion (FY 2021)
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Gross External Debt Of Pakistan
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase.