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Pakistan:
Economy

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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


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