Economy - overview:
Decades of internal political disputes and low levels of foreign investment have led to slow growth and underdevelopment in Pakistan. Agriculture accounts for more than one-fifth of output and two-fifths of employment. Textiles account for most of Pakistan's export earnings, and Pakistan's failure to expand a viable export base for other manufactures has left the country vulnerable to shifts in world demand. Official unemployment was 6.6% in 2013, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Over the past few years, low growth and high inflation, led by a spurt in food prices, have increased the amount of poverty. As a result of political and economic instability, the Pakistani rupee has depreciated more than 40% since 2007. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis. Although the economy has stabilized since the crisis, it has failed to recover. Foreign investment has not returned, due to investor concerns related to governance, energy, security, and a slow-down in the global economy. Remittances from overseas workers, averaging about $1 billion a month since March 2011, remain a bright spot for Pakistan. However, after a small current account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current account turned to deficit in the following two years, spurred by higher prices for imported oil and lower prices for exported cotton. Pakistan remains stuck in a low-income, low-growth trap, with growth averaging about 3.5% per year from 2008 to 2013. Pakistan must address long standing issues related to government revenues and energy production in order to spur the amount of economic growth that will be necessary to employ its growing and rapidly urbanizing population, more than half of which is under 22. Other long term challenges include expanding investment in education and healthcare, adapting to the effects of climate change and natural disasters, and reducing dependence on foreign donors.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Distribution of family income - Gini index: Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$574.1 billion (2013 est.)
country comparison to the world: 27
$554.2 billion (2012 est.)
$531 billion (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$236.5 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
3.6% (2013 est.)
country comparison to the world: 88
4.4% (2012 est.)
3.7% (2011 est.)
[see also: GDP - real growth rate country ranks ]
$3,100 (2013 est.)
country comparison to the world: 177
$3,100 (2012 est.)
$3,000 (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
12.7% of GDP (2013 est.)
country comparison to the world: 120
13.3% of GDP (2012 est.)
12.9% of GDP (2011 est.)
[see also: Gross national saving country ranks ]
household consumption:
81%
government consumption:
10.8%
investment in fixed capital:
12.6%
investment in inventories:
1.6%
exports of goods and services:
12.7%
imports of goods and services:
-18.8%
(2013 est.)
agriculture:
25.3%
industry:
21.6%
services:
53.1% (2013 est.)
cotton, wheat, rice, sugarcane, fruits, vegetables; milk, beef, mutton, eggs
textiles and apparel, food processing, pharmaceuticals, construction materials, paper products, fertilizer, shrimp
3.5% (2013 est.)
country comparison to the world: 86
[see also: Industrial production growth rate country ranks ]
59.21 million
country comparison to the world: 10
note:
extensive export of labor, mostly to the Middle East, and use of child labor (2012 est.)
[see also: Labor force country ranks ]
agriculture:
45.1%
industry:
20.7%
services:
34.2% (2010 est.)
6.6% (2013 est.)
country comparison to the world: 68
6% (2012 est.)
note:
substantial underemployment exists
[see also: Unemployment rate country ranks ]
22.3% (FY05/06 est.)
[see also: Population below poverty line country ranks ]
lowest 10%:
3.9%
highest 10%:
39.3% (FY05/06)
30.6 (FY07/08)
country comparison to the world: 119
41 (FY98/99)
[see also: Distribution of family income - Gini index country ranks ]
revenues:
$29.71 billion
expenditures:
$47.97 billion (2013 est.)
12.6% of GDP (2013 est.)
country comparison to the world: 202
[see also: Taxes and other revenues country ranks ]
-7.7% of GDP (2013 est.)
country comparison to the world: 191
[see also: Budget surplus (+) or deficit (-) country ranks ]
54.6% of GDP (2013 est.)
country comparison to the world: 57
52.1% of GDP (2012 est.)
[see also: Public debt country ranks ]
1 July - 30 June
7.7% (2013 est.)
country comparison to the world: 194
9.7% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]
12% (31 January 2012 est.)
country comparison to the world: 13
14% (31 December 2010 est.)
[see also: Central bank discount rate country ranks ]
11.5% (31 December 2013 est.)
country comparison to the world: 60
12.41% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
$71.96 billion (31 December 2013 est.)
country comparison to the world: 42
$62.29 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
$93.11 billion (31 December 2013 est.)
country comparison to the world: 55
$82.63 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
$106.8 billion (31 December 2013 est.)
country comparison to the world: 50
$94.65 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
$NA (31 December 2012 est.)
$NA (31 December 2011)
$38.17 billion (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]
-$2.36 billion (2013 est.)
country comparison to the world: 147
-$2.072 billion (2012 est.)
[see also: Current account balance country ranks ]
$25.05 billion (2013 est.)
country comparison to the world: 70
$24.71 billion (2012 est.)
[see also: Exports country ranks ]
textiles (garments, bed linen, cotton cloth, yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs
US 13.6%, China 11.1%, UAE 8.5%, Afghanistan 7.8% (2012)
$39.27 billion (2013 est.)
country comparison to the world: 61
$40.07 billion (2012 est.)
[see also: Imports country ranks ]
petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea
China 19.7%, Saudi Arabia 12.3%, UAE 12.1%, Kuwait 6.3% (2012)
$11.18 billion (31 December 2013 est.)
country comparison to the world: 73
$13.8 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$52.43 billion (31 December 2013 est.)
country comparison to the world: 61
$54.5 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]
$24.33 billion (31 December 2013 est.)
country comparison to the world: 68
$22.73 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]
$1.569 billion (31 December 2013 est.)
country comparison to the world: 74
$1.519 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
Pakistani rupees (PKR) per US dollar -
100.4 (2013 est.)
93.3952 (2012 est.)
85.194 (2010 est.)
81.71 (2009)
70.64 (2008)