pakistan gross domestic product

[192] The government decided in 2011 to cut off ties with the IMF. [121] In the previous market year of 2018/19 Pakistan exported a record 4.5 million tonnes of rice as compared to around 4 MMT during the corresponding period last year. Agriculture accounts for about 18.9% of GDP and employs about 42.3% of the labour force. Most of the Textile Industry is established in Punjab.

71–80. [129] Manufacturing is the largest of Pakistan's industrial sectors, accounting for approximately 12.13% of GDP. The Pakistan Bureau of Statistics provisionally valued this sector at Rs.389,545 million in 2005 thus registering over 65% growth since 2000. Gross Domestic Product in Current Prices for Pakistan U.S. [64], In 2017, Pakistan's GDP in terms of purchasing power parity crossed $1 trillion. In recent years, majority stakes in many corporations have been acquired by multinational groups.

However, by 2013, Pakistan's cement is fast-growing mainly because of demand from Afghanistan and countries boosting real estate sector, In 2013 Pakistan exported 7,708,557 metric tons of cement. ISSN 1354-7860 (print), 1469-9648 (online) (doi:10.1080/13547860.2011.539403), Shahbaz, Muhammad and Feridun, Mete (2012) Electricity consumption and economic growth empirical evidence from Pakistan. Recent discoveries of a thick oxidised zone underlain by sulphide zones in the shield area of the Punjab province, covered by thick alluvial cover have opened new vistas for metallic minerals exploration. Forestry 4. Most American countries use a national income accounting standard that fails to record the informal economy. GDP in Pakistan averaged 78.69 USD Billion from 1960 until 2019, reaching an all time high of 314.57 USD Billion in 2018 and a record low of 3.71 USD Billion in 1960. This feature is limited to our corporate solutions. OECD and China. [80], Data is from Ministry of Finance and PBS.

[152], Pakistan is ranked 4th in terms of broadband Internet growth in the world, as the subscriber base of broadband Internet has been increasing rapidly. In May 2017 American provider of stock market indexes and analysis tools, MSCI has confirmed that the Pakistan Stock Exchange (PSX) has been reclassified from Frontier Markets to Emerging Markets in its semi-annual index review. Crops ( i+ii+iii) i) Important Crops ii) Other Crops iii) Cotton Ginning 2. Most cities in Pakistan receive substantial sunlight throughout the year, which would suggest good conditions for investment in solar energy. [41] Pakistan is a developing country[42][43][44] and is one of the Next Eleven countries identified by Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICS countries, among the world's largest economies in the 21st century. An annual report that updated by State bank of Pakistan shows Pakistan cross 1 billion ($) IT Export which is a good achievement of Pakistan IT Industry.

However, the market bounced back strongly in 2009 and the trend continues in 2011. Since 2000 Pakistani banks have begun aggressive marketing of consumer finance to the emerging middle class, allowing for a consumption boom (more than a 7-month waiting list for certain car models) as well as a construction bonanza. Household income or consumption by percentage share: Tariffs applied by Pakistan as provided by ITC's, Officially the Republic of China, participates as ", This page was last edited on 29 October 2020, at 14:30. [145] By 2009, Pakistan had improved its rank by ten places to reach 20th. [105] By 2014 the stock market burst into uncharted territories as the benchmark KSE 100 Index rose 907 points (3.1%) and shot past the 30,000-point barrier to close at a new record high, this came days after Moody's announced that it was upgrading the outlook of 5 major Pakistani banks from Negative to Stable, resulting in heavy buying in the banking sector. It contributes about 18.5% percent of Gross Domestic Product (GDP) and accounts for 37.4% of employed labor force and is the largest source of foreign exchange earnings.

This declined started from financial year 2014–15 when an international commodity slump set in. [131] Major sectors in industries include cement, fertiliser, edible oil, sugar, steel, tobacco, chemicals, machinery, food processing and medical instruments, primarily surgical.

A bulk of Pakistan's exports are directed to the OECD region and China. However, the economy proved to be unexpectedly resilient in the face of multiple adverse events concentrated into a four-year (1998–2002) period —. If the rich people in Pakistan are shifted to solar energy that they should be forced to purchase solar panels, the shortfall can be controlled.

[60] According to the World Bank, poverty in Pakistan fell from 64.3% in 2002 to 29.5% in 2014. Most barriers to the flow of capital and international direct investment have been removed.

3G and 4G was simultaneously launched in Pakistan on 23 April 2014 through a SMRA Auction.

A reversal in global oil prices led to In the 2012–2013 cement industry in Pakistan became the most profitable sector of economy.

Violations of labour law also occur among major subcontractors of international brands, where workers may be beaten, insulted by their superiors or paid below the minimum wage. This necessitates putting in place a framework to facilitate financing in the formal private sector and mobilise non-government resources for a market-based housing finance system. In FY 2013, FBR tax collection was Rs.1,946 billion. [59], As of May 2019, IMF has predicted that future growth rates will be 2.9%, the lowest in South Asia. A reversal in global oil prices led to This program has a broad canvas of schemes enabling youth and poor segment of society to get better employment opportunities, economic empowerment, acquiring skills needed for gainful employment, access to IT and imparting on-the-job training for young graduates to improve the probability of getting a productive job.

551.9 billion. [121] In the previous market year of 2018/19 Pakistan exported a record 4.5 million tonnes of rice as compared to around 4 MMT during the corresponding period last year. [182] Moreover, multiple foreign automakers announced their intention to enter the Pakistani market, and some also entered into joint ventures with local conglomerates.

The 9 million-strong Pakistani diaspora, contributed US$19.3 billion to the economy in FY2017. [81] Again in 2018–19, Agriculture sector did not hit its target growth and only grew by 0.85%.

[114]

"Pakistan: Gross Domestic Product (Gdp) in Current Prices from 1984 to 2021* (in Billion International Dollars). Sony Ericsson, Nokia and Motorola along with Samsung and LG remain the most popular brands among customers.[156]. Auto finance continued to be the dominated segment, while personal loans showed a pickup as well.

According to many sources, the Pakistani government has made substantial economic reforms since 2000,[71] and medium-term prospects for job creation and poverty reduction are the best in nearly a decade. Currently the newly printed 5,000 rupee note is the largest denomination in circulation.

Due to threat of terrorism the number of foreigner tourists has gradually declined and the shock of 2013 Nanga Parbat tourist shooting has terribly adversely effected the tourism industry.

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