Pakistan economy

ISLAMABAD, May 25 (Reuters) - Pakistan has cut its GDP growth estimate for fiscal year 2022-23 to 0.29%, from an earlier estimate of 2%, the national accounts committee said, with a contraction in industrial growth underscoring The country's growth was stunted by slowdowns in the agriculture, industrial and service sectors - with growth estimated at 1.55%, -2.94% and 0.86%, respectively, the committee said in a statement late on Wednesday. Pakistan's fiscal year runs from July to June 30. GDP growth for FY2021-22 was revised to 6.1%, up from 5.97%, and the final figure for FY2020-21 was 5.77%, up from 5.74%, the committee said. Battered by natural disaster, an acute balance of payments crisis, and the worst A central bank statement said on Thursday Pakistan's foreign exchange reserves had dropped to $4.19 billion, barely enough to cover a month of controlled imports. Hit last year by devastating The central bank said last week that GDP growth was likely to be significantly lower this year, compared with the previous year, even lower than its own Pakistan posted its The committee's latest GDP growth estimate for this financial year is lower than the World Bank's estimate of 0.4%, while the Thomson Reuters Shahzad is an accomplished media professional, with over two decades of experience. He primarily reports out of Pakistan, Afghanistan regions, with a great interest and an extensive knowledge of Asia. He also reports on politics, economy, finance, business, commodities, Is...

Pockets of political instability, economic uncertainty and social unrest are unfolding across Pakistan’s Prime Minster Imran Khan was recently ousted in a no-confidence vote. He is the country’s Inflation in Pakistan is expected to cross 15 percent by summer and with U.N.’s Food and Agriculture Organization showing Furthermore, Pakistan may also face a serious balance of payment (BoP) crisis as the State Bank of Pakistan’s reserves have fallen to a perilous level of Diplomat Brief Weekly Newsletter N Get briefed on the story of the week, and developing stories to watch across the Asia-Pacific. Get the Newsletter Due to the current scenario, Pakistan’s Enjoying this article? Click here to subscribe for full access. Just $5 a month. In this scenario, the new government under Prime Minister Shehbaz Sharif faces a dilemma: Should it use populist measures such as further reducing energy prices to win votes in next year’s general elections or take strong, necessary steps that would render it instantaneously unpopular. Doing the former will put Pakistan on the same path as Sri Lanka. The need of the hour is to increase prices, especially of petrol and petroleum levy that will give the government much-needed funds. As of now, against an expected non-tax revenue of $3.3 billion, the government How long will these measures last? Advertisement When the government will need to make an about-face is hard to predict. However, the international context helps us in surmising that the abou...

In March-April, the Pakistan government set up distribution sites across the country to provide s asta aur muft aata (low-cost and free flour) to people to ease their burden amid spiraling prices and the ongoing economic crisis in the country. But instead of doing good, the initiative caused trouble in several places where stampedes broke out, Pakistanis are putting their lives at risk to collect something as basic as a sack of flour. It illustrates how the rising cost of food and other necessities is driving desperation and impacting the masses. With When the recent stampedes over food flooded social media, so did the deeper questions: How did the country end up here? What does this economic crisis mean for the majority of the Pakistani people and for Pakistan’s international projects, especially those with China under the China-Pakistan Economic Corridor (CPEC), which Pakistan considers vital for its future economic growth? Diplomat Brief Weekly Newsletter N Get briefed on the story of the week, and developing stories to watch across the Asia-Pacific. Get the Newsletter Pakistan’s current GDP, per capita income, and GDP growth are the lowest in its Enjoying this article? Click here to subscribe for full access. Just $5 a month. The country’s current situation has multiple causes, including overall poor economic management, corruption, and excessive spending on defense and the armed forces. In a country where half the population is under the Many also associate the curren...

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. • Pakistan economic growth for 2021 was $348.26B, a 15.92% increase from 2020. • Pakistan economic growth for 2020 was $300.43B, a 6.38% decline from 2019. • Pakistan economic growth for 2019 was $320.91B, a 9.89% decline from 2018. • Pakistan economic growth for 2018 was $356.13B, a 4.99% increase from 2017. Similar Country Ranking Country Name Billions of US $ $3,176.30B $1,186.09B $440.83B $416.26B $404.14B $394.09B $366.14B $348.26B $200.09B $142.87B $110.35B $88.93B $77.59B $69.24B $67.40B $65.09B $46.69B $45.34B $40.41B $34.33B $28.74B $28.49B $26.96B $26.59B $22.15B $18.83B $18.63B $18.04B $15.29B $14.01B $13.68B $13.37B $10.00B $9.41B $8.54B $4.74B $3.62B $3.48B $2.54B $2.50B $1.94B $1.63B $0.96B $0.53B $0.40B $0.21B Pakistan Economic Growth - Historical Data Year GDP Per Capita Growth Rate 2021 $348.26B $1,505 6.49% 2020 $300.43B ...

GDP in Pakistan averaged 89.96 USD Billion from 1960 until 2021, reaching an all time high of 356.13 USD Billion in 2018 and a record low of 3.75 USD Billion in 1960. This page provides - Pakistan GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Pakistan GDP - values, historical data and charts - was last updated on June of 2023. Related Last Previous Unit Reference 348.26 300.43 USD Billion Dec 2021 1473.86 1409.70 USD Dec 2021 5232.14 5004.35 USD Dec 2021 43057410.00 22555934.00 PKR Million Dec 2022 1731175.00 663084.00 PKR Million Dec 2022 11556779.00 4817690.00 PKR Million Dec 2022 2260798.00 992747.00 PKR Million Dec 2022 19079377.00 8791447.00 PKR Million Dec 2022 1588101.00 1643625.00 PKR Million Dec 2020