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Pakistan

Pakistan Economy Stats

jaacosta47

Author: jaacosta47

The economy of Pakistan has been rising during the last few weeks. The financially weak country's stock market reached an all-time high and brought down the value of the Pakistani Rupee to a nine-month low. Some of the reasons for this phenomenal growth include the $1.5 billion donation by an Arab country, the success of its Euro Bonds that acquired $2 billion, forthcoming 3G/4G auction, and hopes that IMF will clear its fourth release of the 36-month $6.78 billion loan to Pakistan. Saudi Arabia extended a $1.5 billion loan to Pakistan in February so the country could beef up its foreign exchange reserves.

The prime minister is focused on improving the economy through the industries. The gas and electricity sectors are among the priorities. The GSP Plus status from the European Union has been successful. It will enable nearly 20 percent of Pakistani exports to enter the EU market at zero tariff and 70 percent at preferential rates.

The stock market is trading at a high of more than 29,000 points while the value of the rupee has plunged to a mere 96.30 at inter-bank rate. The value of the rupee reached almost 107 in December against $1 dollar. The government is very upbeat about the revitalization of the economy and see Pakistan's return to global debt markets after a gap of seven years. This is considered a sign of "improved confidence" of foreign investors in its monetary policies.

According to a new World Bank report about the real size of world economies, Pakistan has been classified with the cheapest economies including Egypt, Myanmar, Ethiopia and Laos. These nations manifest a price level index that ranges from 35 to 40.

Overview:

an impoverished and underdeveloped country, has suffered from decades of internal political disputes and low levels of foreign investment. Between 2001-07, however, poverty levels decreased by 10%, as Islamabad steadily raised development spending. Between 2004-07, GDP growth in the 5-8% range was spurred by gains in the industrial and service sectors - despite severe electricity shortfalls - but growth slowed in 2008-09 and unemployment rose. Inflation remains the top concern among the public, climbing from 7.7% in 2007 to more than 13% in 2010. In addition, the Pakistani rupee has depreciated since 2007 as a result of political and economic instability. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis, but during 2009-10 its current account strengthened and foreign exchange reserves stabilized - largely because of lower oil prices and record remittances from workers abroad. Record floods in July-August 2010 lowered agricultural output and contributed to a jump in inflation, and reconstruction costs will strain the limited resources of the government. Textiles account for most of Pakistan's export earnings, but Pakistan's failure to expand a viable export base for other manufactures has left the country vulnerable to shifts in world demand. Other long term challenges include expanding investment in education, healthcare, and electricity production, and reducing dependence on foreign donors.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports per capita: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. Figures expressed per capita for the same year.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $27.48 billion 2013 63th out of 223
Budget surplus > + or deficit > - -6.6% of GDP 2012 155th out of 182
Debt > Government debt > Public debt, share of GDP 50.4 CIA 2014 62nd out of 153
Exports $24.71 billion 2012 69th out of 189
Exports per capita $137.92 2012 162nd out of 189
Fiscal year 1 2013
GDP $231.18 billion 2012 42nd out of 177
GDP > Composition by sector > Industry 25.5% 2012 115th out of 217
GDP > Per capita $2,500.27 per capita 2007 133th out of 183
GDP > Per capita > PPP $3,100.00 2012 138th out of 188
GDP per capita $1,290.36 2012 139th out of 177
Gross National Income $60.05 billion 2001 39th out of 158
Population below poverty line 22.3% 2006 2nd out of 2
Public debt 52.1% of GDP 2012 57th out of 149
Unemployment rate 6% 2012 74th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; All CIA World Factbooks 18 December 2003 to 18 December 2008; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"Pakistan Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Pakistan/Economy

NationMaster

Pakistan Economy Profiles (Subcategories)

Adjusted savings 3 Interest payments 3
Aid 5 International tourism 13
Balance of payments 34 Labor force 3
Bank and trade-related lending 4 Long-term debt 4
Budget 10 Market capitalization of listed companies 4
Business 4 Merchandise 4
Changes in net 4 Merchandise imports 4
Commercial service 4 Micro 4
Commercial service imports 4 National accounts 97
Companies 35 Natural gas 8
Currency 14 Net capital account 4
Current account balance 5 Net current transfers 4
Current transfers 4 Net current transfers from abroad 6
Debt 101 Net errors and omissions 4
Economic aid 3 Net financial flows 28
Electricity 8 Net income 4
Entrepreneurship 12 Net income from abroad 6
Exports 3 Net trade in goods 4
External balance on goods and services 7 Net trade in goods and services 4
External debt 215 Official development assistance and official aid 4
Final 12 Oil 10
Financial sector 37 Portfolio investment 12
Foreign aid 43 Poverty 26
Foreign direct investment 10 Poverty and inequality 16
GDP 42 Private nonguaranteed debt 4
GDP growth 3 Public and publicly guaranteed debt service 6
GDP per capita 4 Public and publicly guaranteed (PPG) debt 3
GNI 12 Purchasing power parity 11
Goods 4 Reserves 6
Goods imports 4 Retail 3
Government 11 Royalty and license fees 8
Government debt 4 Savings 44
Government spending 5 Service 4
Gross capital formation 10 Service imports 4
Gross domestic savings 5 Services 10
Gross fixed capital formation 10 Spending 73
Gross national expenditure 9 Stock of direct foreign investment 6
Gross savings 6 Stocks traded 5
Gross value added at factor cost 9 Tax 70
High-technology 4 Total 9
Household final 23 Total debt service 6
IBRD loans and IDA credits 4 Tourism 19
Income 24 Tourism expenditures 5
Income distribution 4 Tourism receipts 5
Income payments 4 Tourist arrivals by region of origin 8
Income receipts 4 Trade 1477
Inequality 8 Trademark applications 3
Inflation 9 Transnational corporations 4
Innovation 23 Use of IMF credit 4
  • Pakistan ranked first for GDP > composition by sector > agriculture amongst Emerging markets in 2012.
  • Pakistan ranked first for debt > IMF charges > INT, current US$ amongst Hot countries in 2012.
  • Pakistan ranked second for GDP amongst Failed states in 2012.
  • Pakistan ranked 18 places from the bottom for GDP > composition by sector > industry amongst Muslim countries in 2012.
  • Pakistan ranked 5th last for GDP per capita amongst Religious countries in 2012.

2

The economy of Pakistan has been rising during the last few weeks. The financially weak country's stock market reached an all-time high and brought down the value of the Pakistani Rupee to a nine-month low. Some of the reasons for this phenomenal growth include the $1.5 billion donation by an Arab country, the success of its Euro Bonds that acquired $2 billion, forthcoming 3G/4G auction, and hopes that IMF will clear its fourth release of the 36-month $6.78 billion loan to Pakistan. Saudi Arabia extended a $1.5 billion loan to Pakistan in February so the country could beef up its foreign exchange reserves.

The prime minister is focused on improving the economy through the industries. The gas and electricity sectors are among the priorities. The GSP Plus status from the European Union has been successful. It will enable nearly 20 percent of Pakistani exports to enter the EU market at zero tariff and 70 percent at preferential rates.

The stock market is trading at a high of more than 29,000 points while the value of the rupee has plunged to a mere 96.30 at inter-bank rate. The value of the rupee reached almost 107 in December against $1 dollar. The government is very upbeat about the revitalization of the economy and see Pakistan's return to global debt markets after a gap of seven years. This is considered a sign of "improved confidence" of foreign investors in its monetary policies.

According to a new World Bank report about the real size of world economies, Pakistan has been classified with the cheapest economies including Egypt, Myanmar, Ethiopia and Laos. These nations manifest a price level index that ranges from 35 to 40.

Posted on 25 May 2014

jaacosta47

jaacosta47

423 Stat enthusiast