| Economy | 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 declining exports of manufactures. Faced with untenable budgetary deficits, high inflation, and hemorrhaging foreign exchange reserves, the government agreed to an International Monetary Fund Standby Arrangement in November 2008. Between 2004-07, GDP growth in the 6-8% range was spurred by gains in the industrial and service sectors, despite severe electricity shortfalls. Poverty levels decreased by 10% since 2001, and Islamabad steadily raised development spending in recent years. In 2008 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 24.4% in 2008, primarily because of rising world fuel and commodity prices. In addition, the Pakistani rupee has depreciated significantly as a result of political and economic instability. |
GDP (purchasing power parity):
|
$452.7 billion (2008 est.)
$427.9 billion (2007)
$404.5 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$2,600 (2008 est.)
$2,500 (2007 est.)
$2,400 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
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$160.9 billion (2008 est.) |
GDP - real growth rate:
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5.8% (2008 est.)
5.8% (2007 est.)
6.4% (2006 est.) |
GDP - composition by sector:
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agriculture: 20.4%
industry: 26.6%
services: 53% (2008 est.) |
Investment (gross fixed):
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20% of GDP (2008 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 (FY07/08) |
Inflation rate (consumer prices):
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20.8% (2008 est.) |
Central bank discount rate:
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15% (31 November 2008) |
Commercial bank prime lending rate:
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void |
Stock of money:
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$52.76 billion (31 December 2007) |
Stock of money - per capita:
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300 USD per capita |
Stock of quasi money:
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$18.42 billion (31 December 2007) |
Stock of quasi money - per capita:
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105 USD per capita |
Stock of domestic credit:
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$65.05 billion (31 December 2007) |
Stock of domestic credit - per capita:
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370 USD per capita |
Labor force:
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50.58 million
note: extensive export of labor, mostly to the Middle East, and use of child labor (2008 est.) |
Labor force participation rate:
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28.70 % of population |
Labor force - by occupation:
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agriculture: 43%
industry: 20.3%
services: 36.6% (2005 est.) |
Unemployment rate:
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7.4% plus substantial underemployment (2008 est.) |
Budget:
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revenues: $22.14 billion
expenditures: $32.09 billion (2008 est.) |
Budget revenues per capita:
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126 USD per capita |
Public debt:
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49.8% of GDP (2008 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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4.6% (2008 est.) |
Electricity - production:
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93.26 billion kWh (2007 est.) |
Electricity - production per capita:
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530 kWh per capita |
Electricity - consumption:
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68.4 billion kWh (2006 est.) |
Electricity - consumption - per capita:
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389 kWh per capita |
Electricity - exports:
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0 kWh (2007 est.) |
Electricity - imports:
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0 kWh (2007 est.) |
Oil - production:
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68,670 bbl/day (2007 est.) |
Oil - production per capita:
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390 bbl/day per capita |
Oil - consumption:
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345,000 bbl/day (2006 est.) |
Oil - consumption - per capita:
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0.71 bbl/year per capita |
Oil - exports:
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28,060 bbl/day (2005) |
Oil - imports:
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290,600 bbl/day (2005) |
Oil - proved reserves:
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289.2 million bbl (1 January 2008 est.) |
Natural gas - production:
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30.8 billion cu m (2007 est.) |
Natural gas - production per capita:
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175 cu m per capita |
Natural gas - consumption:
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30.8 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
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175 cu m per capita |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
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0 cu m (2007 est.) |
Natural gas - proved reserves:
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792.8 billion cu m (1 January 2008 est.) |
Agriculture - products:
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cotton, wheat, rice, sugarcane, fruits, vegetables; milk, beef, mutton, eggs |
Current account balance:
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-$10.57 billion (2008 est.) |
Current account balance - per capita:
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-59 USD per capita |
Exports:
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$20.62 billion f.o.b. (2008 est.) |
Exports per capita:
|
117 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 18%, UAE 10.4%, Afghanistan 8.4%, China 5.2%, UK 4.7% (2007) |
Imports:
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$35.38 billion f.o.b. (2008 est.) |
Imports per capita:
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201 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 16.2%, Saudi Arabia 10.9%, UAE 10.1%, US 5.7%, Kuwait 4.9%, Japan 4.4% (2007) |
Reserves of foreign exchange and gold:
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$9.104 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
52 USD per capita |
Debt - external:
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$43.23 billion (31 December 2008 est.) |
Debt - external - per capita:
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246 USD per capita |
Stock of direct foreign investment - at home:
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$25.31 billion (2008 est.) |
Stock of direct foreign investment - at home - per capita:
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144 USD per capita |
Stock of direct foreign investment - abroad:
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$1.032 billion (2008 est.) |
Stock of direct foreign investment - abroad - per capita:
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6 USD per capita |
Market value of publicly traded shares:
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$70.26 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
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399 USD per capita |
Economic aid - donor:
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void |
Economic aid - recipient:
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$1.666 billion (2005) |
Economic aid - recipient per capita:
|
10 USD per capita |
Currency (code):
|
Pakistani rupee (PKR) |
Exchange rates:
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Pakistani rupees (PKR) per US dollar - 70.64 (2008 est.), 60.6295 (2007), 60.35 (2006), 59.515 (2005), 58.258 (2004) |
Fiscal year:
|
1 July - 30 June |
|
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