Pakistan:
Economy

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Other pages in this profile of Pakistan:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $410 billion (2007 est.)
GDP (official exchange rate)	Definition $143.8 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 6.4% (2007 est.)
GDP - per capita	Definition - World rank and map $2,600 (2007 est.)
GDP - composition by sector	Definition agriculture: 19.6% industry: 26.8% services: 53.7% (2007 est.)
Labor force	Definition 49.18 million note: extensive export of labor, mostly to the Middle East, and use of child labor (2007 est.)
Labor force - by occupation	Definition agriculture: 42% industry: 20% services: 38% (2004 est.)
Unemployment rate	Definition - World rank and map 7.5% plus substantial underemployment (2007 est.)
Population below poverty line	Definition 24% (FY05/06 est.)
Household income or consumption by percentage share	Definition lowest 10%: 4% highest 10%: 26.3% (2002)
Distribution of family income - Gini index	Definition - World rank and map 30.6 (2002)
Inflation rate (consumer prices)	Definition - World rank and map 7.8% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 21.4% of GDP (2007 est.)
Budget	Definition revenues: $21.95 billion expenditures: $27.62 billion (2007 est.)
Public debt	Definition - World rank and map 52.8% of GDP (2007 est.)
Agriculture - products	Definition cotton, wheat, rice, sugarcane, fruits, vegetables; milk, beef, mutton, eggs
Industries	Definition textiles and apparel, food processing, pharmaceuticals, construction materials, paper products, fertilizer, shrimp
Industrial production growth rate	Definition - World rank and map 6.8% (2007 est.)
Electricity - production	Definition - World rank and map 89.82 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 67.06 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 399.8 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 68,220 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 345,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 2.1 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 23,230 bbl/day (2004)
Oil - imports	Definition - World rank and map 278,900 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 376.8 million bbl (2007 est.)
Natural gas - production	Definition - World rank and map 29.54 billion cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 29.54 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 176 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 764.6 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$7.105 billion (2007 est.)
Exports	Definition - World rank and map $16.31 billion f.o.b. (2007 est.)
Exports - commodities	Definition textiles (garments, bed linen, cotton cloth, yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs
Exports - partners	Definition US 17.7%, UAE 10.2%, Afghanistan 8.3%, China 5.2%, UK 4.7% (2006)
Imports	Definition - World rank and map $30.33 billion f.o.b. (2007 est.)
Imports - commodities	Definition petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea
Imports - partners	Definition China 16.3%, Saudi Arabia 10.8%, UAE 10%, US 5.7%, Kuwait 4.8%, Japan 4.3% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $15.69 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $39.23 billion (31 December 2007 est.)
Stock of direct foreign investment - at home	Definition $20.01 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $952 million (2007 est.)
Market value of publicly traded shares	Definition $45.52 billion (2006)
Economic aid - recipient	Definition $1.666 billion (2005)
Currency (code)	Definition Pakistani rupee (PKR)
Exchange rates	Definition Pakistani rupees per US dollar - 60.6295 (2007), 60.35 (2006), 59.515 (2005), 58.258 (2004), 57.752 (2003)
Fiscal year	Definition 1 July - 30 June

Pakistan: Economy

Pakistan:
Economy