Pakistan officially the Islamic Republic of Pakistan is a sovereign country in South Asia. It has a semi-industrialised economy which is the 27th largest in the world in terms of purchasing power and 47th largest in terms of nominal GDP. Pakistan is a rapidly developing country and is one of the Next Eleven, the eleven countries that, along with the BRICs, have a high potential to become the world's largest economies in the 21st century. The economy is semi-industrialized, with centres of growth along the Indus River. The diversified economies of Karachi and Punjab's urban centres coexist with less developed areas in other parts of the country. Pakistan's estimated nominal GDP as of 2011 is US$202 billion. The estimated nominal per capita GDP is US$1,197, GDP (PPP) per capita is US$2,851 (international dollars), and debt-to-GDP ratio is 55.5%. A 2010 report by RAD-AID positioned Pakistan's economy at 27th largest in the world by purchasing power and 45th largest in absolute dollars. It is South Asia's second largest economy, representing about 15 percent of regional GDP.

Pakistan's economic growth since its inception has been varied. It has been slow during periods of civilian rule, but excellent during the three periods of military rule, although the foundation for sustainable and equitable growth was not formed. The early to middle 2000s was a period of rapid reform; the government raised development spending, which reduced poverty levels by 10% and increased GDP by 3%. The economy cooled again from 2007. Inflation reached 25% in 2008 and Pakistan had to depend on an aggressive fiscal policy backed by the International Monetary Fund to avoid possible bankruptcy. A year later, the Asian Development Bank reported that Pakistan's economic crisis was easing. The inflation rate for the fiscal year 2010–11 was 14.1%. Pakistan is one of the largest producers of natural commodities, and its labour market is the 10th largest in the world. Around 600,000 Pakistanis went abroad to work in 2009. Expatriate workers send remittances of close to US$8 billion annually—the largest source of foreign exchange apart from exports. According to the World Trade Organization Pakistan's share of overall world exports is declining; it contributed only 0.128% in 2007.The trade deficit in the fiscal year 2010–11 was US$11.217 billion.

The structure of the Pakistani economy has changed from a mainly agricultural to a strong service base. Agriculture now accounts for only 21.2% of the GDP. Even so, according to the United Nations Food and Agriculture Organization, Pakistan produced 21,591,400 metric tons of wheat in 2005, more than all of Africa (20,304,585 metric tons) and nearly as much as all of South America (24,557,784 metric tons). The service and industrial sectors account for 52.4% and 26.4% of GDP respectively. Between 2002 and 2007 there was substantial foreign investment in Pakistan's banking and energy sectors. Other important industries include clothing and textiles (accounting for nearly 60% of exports), food processing, chemicals manufacture, iron and steel. There is great potential for tourism in Pakistan, but it is severely affected by the country's instability.

Source: Invesment Support and Promotion Agency, Pakistan.


General Information
Official Name Islamic Republic of Pakistan
Capital Islamabad
Main Cities Islamabad, Karachi, Lahore, Faisalabad, Rawalpindi
Languages Urdu (official) 8%, English (official; lingua franca of Pakistani elite and most government ministries), Punjabi 48%, Sindhi 12%, Siraiki (a Punjabi variant) 10%, Pashtu 8%, Balochi 3%, Hindko 2%, Brahui 1%, Burushaski and other 8%
Government Federal Republic
Independence Day 14 August 1947 (from British India)
Area total: 803,940 sq km (land:778,720 sq km; water: 25,220 sq km)
Population 182.59 million
Currency Pakistani Rupee (PKR)
Climate Generally arid; hot summers, cool or cold winters; wide variations of temperature in given locale and between coastal area on Arabian Sea and glacial regions of northern areas; little rainfall.
Time Zone PST (UTC +5), Summer PDT (UTC +6)
Main Airports Jinnah Int’l Airport (KHI, Karachi), Allama Iqbal Int’l Airport (LHE, Lahore), Islamabad Int’l Airport (ISB, Rawalpindi)
Main Harbors Karachi, Port Muhammad Bin Qasim
Source: National sources,2014
Economic Information
  2009 2010 2011 2012 2013
Key Economic Indicator  
GDP Nominal, Current Price(US$, billion) 169.7 177.6 213.7 225.5 238.7
GDP Growth (%) 036 2.6 3.6 4.4 3.6
Current Account Balance(% of GDP) -5.45 -2.22 0.1 -2.06 -1.05
Inflation, Consumer Prices(%) 17.5 10.1 13.6 11 7.4
Foreign Direct Investment(FDI) Inflows(US$, million) 2,338 2,022 1,326 859 1,309
General Government Balance (% of GDP) -5 -6 -7 -8.3 -7.8
Economic Growth (% real change)
Private Consumption 79 80 81 83 81
Government Consumption 11 10 10 10 11
Gross fixed Investment 16 14 13 13 13
Export of goods & Services 12 14 14 12 13
Import of goods & Services 20 19 19 20 19
Structure of Economy (% of GDP)
Agriculture 21.56 21.19 21.63 21.4 21.27
Industry 24.73 25.43 24.95 25.10 25.25
Services 53.71 53.38 53.42 53.50 53.48
Economic Policy
Budget Balance(% of GDP) -4.6 -5.0 -6.4 -8.0 -5.1
Public Debt(% of GDP) 61.6 62.4 60.9 64.3 63.3
Money Market interest rate(%) 14.5 14.0 14.4 13.5 12.0
M2 Growth (% change) 9.6 12.5 15.9 14.1 15.9
Exchange Reate LCU to USD 84.1 85.6 85.8 94.3 98.7
Balance of Payments (US$, million)
Current Account Balance -13,628 -8,868 -7,609 -13,383 -14,425
Trade Balance -16,907 -16,374 -18,250 -24,490 -27,284
Exports (Goods) 19,604 21,409 25,790 26,369 25,525
Imports (Goods) 36,511 37,787 44,040 50,859 53,809
Service Balance -3,468 -1,774 -2,029 -3,192 -1,564
Income Balance -4,407 -3,282 -3,017 -3,245 -3,669
Transfer Balance 11,154 12,562 15,687 17,544 18,092
Net direct investment flows -3,695 -2,075 -1,591 -744 -1,258
Net portfolio investment flows 1073 65 -338 -144 -26
Net debt flows 5,350 5,853 1,462 1,426 2,655
Other Capital Flows (* negative is flight) -3,010 -3,087 -172 -680 735
Change in International reserves 15,654 46,248 29,125 -33,706 -66,281
External Position(US$m)
Toral Foreign Debt 213,207 250,581 264,727 260,706 244,892
Total Foreign exchange reserves 12,425.2 16,750.4 18,243.8 15,288.6 11,019.6
International inverstment position -54,822 -59,164 -59,824 -63,760 -72,927
Total assets 23,374 26,158 26,574 23,657 17,261
Total liabilities 78,196 85,322 86,398 87,417 90,188
Population and Income
Population (Million) 168.2 171.73 175.31 178.91 182.59
GDP per capita at PPP(US$) 2,789.6 2,836.37 2,936.86 3,055.67 3,149.4
Unemployment Rate (% of total labor force) 5.46 5.55 5.95 6.45 6.7
Source: IMF, International Financial Statistics 2014
Pakistan Trade with World
US$ Mn. 2009 2010 2011 2012 2013
Export (fob) 19,604 21,409 25,790 26,369 26,525
Import (cif) 36,511 37,787 44,040 50,859 53,809
Trade Volume 56,115 52,192 69,830 77,228 80,334
Trade Balance -16,907 -16,374 -18,250 -24,490 -27,284
World Trade (US$ Bn) 24,949 28,143 35,397 36,355 36,774
Share 0.22% 0.18% 0.19% 0.2% 0.2%
Source: IMF, International Financial Statistics 2014
Pakistan Trade with D-8 Countries
US$ Mn. 2009 2010 2011 2012 2013
Export (fob) 1,329.34 1,817 2,496 2,171 1,996
Import (cif) 3,259.76 4,601 4,364 5,980 5,785
Trade Volume 4,589.1 6,418 6,860 8,151 7,781
Trade Balance -1,930.42 -2,784 1,868 -3,809 -3,789
D-8 Intra Trade (US$ Mn) 66,947.62 101,139 129,493 148,191 133,064
Share 6.85% 6.34% 5.29% 5.5% 5.8%
Source: IMF, International Financial Statistics 2014
Pakistan Trade By 10 Main Commodities
Export by 10 Principal Commodities, (million US$)
No. Commodity 2009 2010 2011 2012 2013
1. Cotton 3,204 4,013 5,097 5,225 5,334
2. Other made textile articles, sets, worn clothing etc. 2,917 3,284 3,570 3,285 3,685
3. Cereals 1,823 2,279 2,807 2,061 2,181
4. Articles of apparel, accessories, knit or crochet 1,680 1,982 2,239 2,006 2,105
5. Articles of apparel, accessories, not knit or crochet 1,206 1,461 1,774 1,694 1,855
6. Articles of leather, animal gut, harness, travel goods 578 619 681 674 743
7. Salt, sulphur, earth, stone, plaster, lime and cement 563 514 571 714 723
8. Sugar and Sugar Confectionery 112 88 66 253 633
9. Raw hides and skins (other than furskins) and leather 270 415 468 457 529
10. Mineral fuels, oils, distillation products, etc. 714 1,203 1,312 331 527
Import by 10 Principal commodities, (million US$)
No. Commodity 2009 2010 2011 2012 2013
1. Mineral fuels, oils, distillation products, etc 8,838 11,398 14,860 15,947 15,247
2. Machinery, nuclear reactors, boilers, etc 3,119 2,953 2,951 3,060 3,058
3. Electrical, Electronic equipment 2,619 2,441 2,430 2,752 2,682
4. Organic chemicals 1,518 1,721 2,213 2,038 2,015
5. Animal, vegetable fats and oils, cleavage products, etc. 1,412 1,852 2,589 2,313 1,979
6. Iron and Steel 1,683 1,695 1,680 1,847 1,841
7. Plastic and articles thereof 1,185 1,458 1,679 1,501 1,569
8. Vehicles other than railway, tramway 969 1,307 1,502 1,595 1,238
9. Cotton 498 831 909 684 1,046
10. Ships, boats and other floating structures 399 839 527 544 981
Source: WTO, International Trade Centre 2014
Export and Import by Main Destination Country
Export by Main Destination Country (% of total)
2009 2010 2011 2012 2013
USA 18.3 17.2 15.1 14.9 14.9
China 5.7 6.7 6.6 10.6 10.6
Afganistan 7.8 7.9 10.5 8.5 8
UAE 8.8 8.6 7.6 11.7 7.1
UK 5.4 5.2 5 5.1 5.7
Others 54 54.4 55.2 49.2 53.7
Source: WTO, International Trade Centre 2014
Import by Main Origin Country (% of total)
2009 2010 2011 2012 2013
UAE 10.6 14 15.6 16.5 17.7
China 12 14 14.8 15.3 115.1
Kuwait 5.7 6.9 8.9 9.6 9
Saudi Arabia 11.1 10.2 10.7 9.8 8.8
Japan 4.1 4.2 4.3 4.3 4.5
Others 56.5 50.7 45.7 44.5 44.9
Source: WTO, International Trade Centre 2014
Foreign Direct Investment (Overview, selected years)
US$(Mn.) FDI Flows FDI Stocks
2009 2010 2011 2012 2013 2009 2010 2011 2012 2013
Inward 2,338 2,022 1,326 859 1,307 17,673 19,828 20,916 23,125 27,589
Outward 71 47 62 82 237 1,851 1,362 1,401.3 1,550 1,731
Source: UNCTAD, 2014
Agriculture: Food Commodities
US$ Mn 2009 2010 2011 2012 2013
Export 2,238 2,679 3,420 2,965 3,480
Import 2,517 3,553 3,702 3,261 2,900
Trade Volume 4,755 6,232 7,122 6,226 6,380
Trade Balance -279 -874 -282 -296 -580
Pakistan's Total Trade 56,115 52,192 69,830 77,228 80,334
Share to Pakistan's Total Trade 8.47% 11.9% 10.2% 8.06% 7.94%
Source: WTO,FAO 2014
Energy
Oil/Petroleum(Thousand Barrels per Day)
2009 2010 2011 2012 2013
Total Oil Production 59.8 67.3 68.3 67.7 64.2
Consumption 414 411 417 402 445
Refinery 276 286.3 286.3 186.3 186.3
Proved Reserved(Billion barrels) 0.33 0.31 0.31 0.28 0.28
Natural Gas
Natural Gas(Billion Cubic Feet/Day) 2009 2010 2011 2012 2013
Total Production 3.7 3.8 3.8 4.0 3.7
Consumption 3.7 3.8 3.8 4.0 3.7
Proved Reserved(Trillion cubic meters,TCM) 0.7 0.7 0.7 0.6 0.6
Others Energy
Energy Year
2009 2010 2011 2012 2013
Biofuels production (Thousand barrels daily) 0.3 0.2 0.2 0.2 0.2
Electricity Generation (Terawatt-hours) 95.0 94.1 94.9 94.0 93.2
Renewable Energy (Installed Capacity) Geothermal (mega-watts) - - - - -
Solar (maga-watts) - - - 0.18 10
Wind (mega-watts) - 50 50 50 50
Source: BP statistics, 2014