| People | Pakistan |
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Economy - overview:
|
Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes, low levels of foreign investment, and a costly, ongoing confrontation with neighboring India. However, since 2001, IMF-approved reforms - most notably, privatization of the banking sector - bolstered by generous foreign assistance and renewed access to global markets, have generated macroeconomic recovery. Pakistan has experienced GDP growth in the 6-8% range in 2004-07, spurred by gains in the industrial and service sectors. Poverty levels have decreased by 10% since 2001, and Islamabad has steadily raised development spending in recent years, including a 52% real increase in the budget allocation for development in FY07. In 2007 the fiscal deficit - a result of chronically low tax collection and increased spending - exceeded Islamabad's target of 4% of GDP. Inflation remains the top concern among the public, jumping from 7.7% in 2007 to more than 11% during the first few months of 2008, primarily because of rising world commodity prices. The Pakistani rupee has depreciated since the proclamation of emergency rule in November 2007. |
GDP (purchasing power parity):
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$446.1 billion (2007 est.) |
GDP (official exchange rate):
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$106.3 billion (2007 est.) |
GDP - real growth rate:
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6.3% (2007 est.) |
GDP - per capita (PPP):
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$2,600 (2007 est.) |
GDP - composition by sector:
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agriculture: 19.6%
industry: 26.8%
services: 53.7% (2007 est.) |
Investment (gross fixed):
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21.4% of GDP (2007 est.) |
Population below poverty line:
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24% (FY05/06 est.) |
Household income or consumption by percentage share:
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lowest 10%: 4%
highest 10%: 26.3% (2002) |
Distribution of family income - Gini index:
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30.6 (2002) |
Inflation rate (consumer prices):
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6.9% (2007 est.) |
Labor force:
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49.18 million
note: extensive export of labor, mostly to the Middle East, and use of child labor (2007 est.) |
Labor force participation rate:
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29.32 % of population |
Labor force - by occupation:
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agriculture: 42%
industry: 20%
services: 38% (2004 est.) |
Unemployment rate:
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7.5% plus substantial underemployment (2007 est.) |
Budget:
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revenues: $23.17 billion
expenditures: $29.74 billion (2007 est.) |
Budget revenues per capita:
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139 USD per capita |
Public debt:
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53.8% of GDP (2007 est.) |
Industries:
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textiles and apparel, food processing, pharmaceuticals, construction materials, paper products, fertilizer, shrimp |
Industrial production growth rate:
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6.8% (2007 est.) |
Electricity - production:
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89.82 billion kWh (2005) |
Electricity - production per capita:
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536 kWh per capita |
Electricity - consumption:
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67.06 billion kWh (2005) |
Electricity - consumption - per capita:
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400 kWh per capita |
Electricity - exports:
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0 kWh (2005) |
Electricity - imports:
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0 kWh (2005) |
Oil - production:
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68,220 bbl/day (2005 est.) |
Oil - production per capita:
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407 bbl/day per capita |
Oil - consumption:
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345,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
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0.75 bbl/year per capita |
Oil - exports:
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23,230 bbl/day (2004) |
Oil - imports:
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278,900 bbl/day (2004) |
Oil - proved reserves:
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289.2 million bbl (1 January 2006 est.) |
Natural gas - production:
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29.54 billion cu m (2005 est.) |
Natural gas - production per capita:
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177 cu m per capita |
Natural gas - consumption:
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29.54 billion cu m (2005 est.) |
Natural gas - consumption - per capita:
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177 cu m per capita |
Natural gas - exports:
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0 cu m (2005 est.) |
Natural gas - imports:
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0 cu m (2005) |
Natural gas - proved reserves:
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764.6 billion cu m (1 January 2006 est.) |
Agriculture - products:
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cotton, wheat, rice, sugarcane, fruits, vegetables; milk, beef, mutton, eggs |
Current account balance:
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-$6.477 billion (2007 est.) |
Current account balance - per capita:
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-38 USD per capita |
Exports:
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$20.58 billion f.o.b. (2007 est.) |
Exports per capita:
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123 USD per capita |
Exports - commodities:
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textiles (garments, bed linen, cotton cloth, yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs |
Exports - partners:
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US 21%, UAE 9%, Afghanistan 7.7%, China 5.3%, UK 5.1% (2006) |
Imports:
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$30.99 billion f.o.b. (2007 est.) |
Imports per capita:
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185 USD per capita |
Imports - commodities:
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petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea |
Imports - partners:
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China 13.8%, Saudi Arabia 10.5%, UAE 9.7%, US 6.5%, Japan 5.7%, Kuwait 4.7%, Germany 4.2% (2006) |
Reserves of foreign exchange and gold:
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$16.03 billion (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
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96 USD per capita |
Debt - external:
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$40.32 billion (31 December 2007 est.) |
Debt - external - per capita:
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241 USD per capita |
Stock of direct foreign investment - at home:
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$14.67 billion (2006 est.) |
Stock of direct foreign investment - abroad:
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$885 million (2006 est.) |
Market value of publicly traded shares:
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$45.52 billion (2006) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$1.666 billion (2005) |
Economic aid - recipient per capita:
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10 USD per capita |
Currency (code):
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Pakistani rupee (PKR) |
Exchange rates:
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Pakistani rupees per US dollar - 60.6295 (2007), 60.35 (2006), 59.515 (2005), 58.258 (2004), 57.752 (2003) |
Fiscal year:
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1 July - 30 June |
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