Economy of Pakistan From Wikipedia, the free encyclopedia Economy of Pakistan Karachi sky line.jpg A view of the skyline in Karachis financial district. Rank 27th (PPP) 47th (Nominal) Currency 1 Pakistani Rupee (PKR) Rs.1 = 100 Paisas Fiscal year 1 July – 30 June Trade organisations ECO, SAFTA, ASEAN, WIPO and WTO Statistics GDP $240 billion (nominal) (2012)[1] $514.6 billion (2012 est.)(PPP) GDP growth 3.7% (2012)[2] GDP per capita $1,578 (nominal; 2012) [3] $3,876 (PPP; 2012)[4] GDP by sector agriculture: 21.2%, industry: 25.4%, services: 53.4% (2010 est.) Inflation (CPI) 7.5% (Jan 2013)[5] Population below poverty line 14% (2013)[6][7] Labour force 60.36 million (2012 est.) Labour force by occupation agriculture: 43%, industry: 20.3%, services: 36.6% (2005 est.) Unemployment 5.6% (2012 est.) Main industries textiles and apparel, food processing, pharmaceuticals, construction materials, chemicals, cement, mining, machinery, steel, engineering, software and hardware, motorcycle and auto parts, electronics, paper products, fertiliser, shrimp Ease of Doing Business Rank 107th (2013)[8] External Exports $29.66 billion (2012 est.)[9][10] Export goods textiles (garments, bed linen, cotton cloth, yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets, steel, foodstuffs, fertilizer, Cement, sugar, animals, electrical equipment, petroleum and rugs Main export partners United States 13.3% China 10.9% United Arab Emirates 8.6% Afghanistan 8.5% (2012 est.)[11] Imports $33 billion (2013 est.) [12] Import goods petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea Main import partners China 19.8% Saudi Arabia 12.0% United Arab Emirates 11.9% Kuwait 6.2% (2012 est.)[13] Public finances Public debt 62% of GDP (2013 est.)[14] Revenues $29.51 billion (2012 est.) Expenses $44.19 billion (2012 est.) Credit rating Standard & Poors:[15] B- (Domestic) B- (Foreign) B- (T&C Assessment) Outlook: Stable[16] Moodys:[16] B3 Outlook: Stable Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars The economy of Pakistan is the 27th largest in the world in terms of purchasing power parity (PPP), and 44th largest in terms of nominal GDP. However as Pakistan has a population of over 183 million (the worlds 6th-largest), GDP per capita is low: the nations 2012 PPP-adjusted GDP per capita of approximately US$2900 ranked 135th, 141st, or 147th in the world according to the International Monetary Fund, World Bank, and US Central Intelligence Agency respectively. Pakistan has a semi-industrialised economy,[17][18][19] which mainly encompasses textiles, chemicals, food processing, agriculture and other industries. Growth poles of Pakistans economy are situated along the Indus River;[19][20] diversified economies of Karachi and Punjabs urban centres coexist with lesser developed areas in other parts of the country.[19] The economy has suffered in the past from decades of internal political disputes, a fast growing population, mixed levels of foreign investment and high defence spending.[21] Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium term.[22]
Posted on: Sat, 26 Oct 2013 09:43:04 +0000
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