ECONOMY

  • Pakistan is a Muslim majority country with Muslim population comprising of 96.4% (Sunni 85-90%, Shia 10-15%), others include Christians and Hindus 3.6%
  • Internationally Pakistan is being acknowledged as a prime emerging market with immense potential – ranked 26th out of 134 countries in terms of purchasing power parity (PPP) out of a total of 134 countries.
  • Pakistan`s economy grew by 3.6% in FY 2013.
  • It is a semi industrial economy with major industries includes textiles, chemicals, food processing, agriculture, fertilizer, cement, dairy and rugs.
  • Pakistan is a rapidly developing country and is one of the Next Eleven, the eleven countries that, along with the BRIC Countries, have a high potential to become the world’s largest economies
  • Pakistan is currently undergoing process economic liberalization with includes privatization of all government corporations, aimed to attract foreign investment  and decrease budget deficit
  • Foreign Net reserves are $11.18 billion according to survey reports of 2013
  • In 2014, foreign currency reserves are expected to cross $10billion while it is expected to cross $15 billion by mid-2014• Pakistan has a capacity to produce 22,800 MW of electricity, which is majorly produced from hydroelectric power, nuclear fuels and fossil fuels.
  • In FY 2013, total revenue collected was 9.3% of the GDP against 13.9% of expenditures
  • The Services sector has registered a growth rate of 3.7% in 2013 against the growth of 5.3% in the last year. This performance is mainly contributed by finance and insurance, general government services, housing services and other private services, transport, storage and communication wholesale and retail trade.
  • Young and large workforce (almost 104 million people under 30) and immensely rich natural resource-base offers multiple venues of economic and investment activities for generating diverse employment opportunities.
  • Total working age population 121 million, employed labor force 52.71 million.
  • The rapidly increasing number of women in white-collar jobs and their growing taste for sophistication has propelled Pakistan to become one of the fastest growing Retail Markets in the world
  • Capacity for Innovation ranked 71 on the global competitiveness index (GCI)

 

Key macroeconomic indicators (2013)

  • GDP (US$) $574.1 billion
  • GDP growth rate 3.6%
  • GDP per capita = $3,100
  • Population 196 million
  • Urban population = 36.2%
  • Inflation rate almost 7.7%
  • Unemployment 7.7%
  • Literacy rate = 54.9%
  • Poverty 22.3% (FY05/06)