Aggregates are based on constant 2010 U.S. dollars. Resident Representative for Pakistan Teresa Daban Sanchez Resident Representative . Pakistan’s gross domestic product (GDP) growth was 5.53 percent in 2018 after adjusting for inflation. Pakistan reached an all time high of 10.35% in 1970 and a record low of 0.47% in 1971. Pakistan needs good governance and sustainable economy that can be achieved by reducing the militancy (Akhter & Iraqi , 2018). The following are the key indicators showing how things have gone wrong with the Pakistan’s economy. The Trading Economics Application Programming Interface (API) provides direct access to our data. Government of Pakistan releases Pakistan Economic Survey 2018 Pakistan’s economy continued to maintain its growth momentum which has been building up since FY 2014. Growth projections have been revised down since the April 2020 Regional Economic Outlook, the IMF says in … 5 . Despite their efforts, the pandemic has inflicted heavy economic damage on the region. Pakistan’s economy achieved growth rate of 4.7 percent in 2015/16, the highest in the past eight years. Economic indicators for Pakistan Pakistan's GDP expected to contract by 0.4% in 2020 and grow by 2.0% in 2021 – ADO 2020 Update Pakistan's inflation rates forecasted at 10.7% in 2020 and 7.5% in 2021 – ADO 2020 Update GDP at current prices in Q1 of 2018-19 is estimated at Rs 44.33 lakh crore, as against Rs 38.97 lakh crore in Q1 of 2017-18, showing a growth rate of 13.8 percent. CPEC will add 2.5% into current GDP which will increase the GDP growth rate to 7.5%. Pakistan economic growth for 2018 was $314.57B, a 3.28% increase from 2017. ... Outlook in fiscal year 2018, projections for growth and inflation are maintained, but the current account deficit is expected to exceed the earlier forecast again by a wide margin. GDP per Capita in Pakistan (with a population of 207,906,209 people) was $1,158 in 2017, an increase of $39 from $1,119 in 2016; this represents a change of 3.5% in GDP … Projects & Operations. Despite several internal and external challenges, Pakistan's gross domestic product recorded its highest growth in 10 years of 5.3 per cent during the outgoing fiscal year 2016-17. Annual percentage growth rate of GDP at market prices based on constant local currency. Others. ... Pakistan GDP: 1,084 trillion International Dollars (2019) Gross Domestic Product (PPP in 2011 prices) … Pakistan’s GDP grew by 3.3 percent in the closing financial year 2018-19 amid tough economic scenario and introduction of structural reforms in the economy. NOTE: The information regarding GDP - real growth rate (%) on this page is re-published from the CIA World Factbook 2018. Tel: 92.51.873 6086-88 Fax: 92.51.873 6083 Email: RR-PAK@imf.org. Pakistan was a middle class and predominantly agricultural country when it gained independence in 1947. Pakistan's vision 2030 aims at achieving 7–8% of GDP percent till 2030. Pakistan gdp … As the graph below shows, over the past 57 years this indicator reached a maximum value of 11.35 in 1970 and a minimum value of 0.47 in 1971. All suggestions for corrections of any errors about GDP - real growth rate (%) should be addressed to the CIA. India attains maximum gdp growth rate of 9.63% in year 1988 and minimum -5.24% in 1979. Economic indicators for Pakistan Pakistan's GDP expected to contract by 0.4% in 2020 and grow by 2.0% in 2021 – ADO 2020 Update Pakistan's inflation rates forecasted at 10.7% in 2020 and 7.5% in 2021 – ADO 2020 Update In 2018, the growth rate for the world GDP was 3.6%. Aggregates are based on constant 2010 U.S. dollars. Pakistan GDP (Gross Domestic Product) was INT$1,083.93billion for 2019 in PPP terms. Human development continues to lag behind most of the region. For next fiscal year, the WB projected negative growth rate of 1 percent for 2020-21. While Pakistan’s current account deficit contracted by 9.2pc month-on-month in March 2018, the current account deficit widened 50.5pc to reach 3.8pc of GDP … Office Information. Online tool for visualization and analysis. Although since 2005 the GDP has been growing an average 5 percent a year, it is not enough to keep up with fast population growth. There had been moderate efforts in the past to address this high population growth rate along with lack of awareness among couples to maintain a moderate family size. This rate is 3 -tenths of one percent higher than the figure of 5.2% published in 2017. Nominal GDP vs. PPP GDP. Find Out . Pakistan GDP Last Previous Highest Lowest Unit; GDP Annual Growth Rate 1.91: 5.53: 10.22-1.80: percent: GDP 278.22: 314.57: 314.57: 3.71: USD Billion: GDP Constant Prices 13570459.00: 13132237.00: 13570459.00: 8216160.00: PKR Million: Gross National Product 14435379.00: 13806113.00 Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Positive Aspects In October 2016, the IMF chief Christine confirmed her economic assessment in Islamabad that Pakistan's economy was 'out of crisis' The World Bank predicts that by 2018, Pakistan's economic growth will increase 5.4% due to greater foreign investment, namely from the China-Pakistan The first contraction in decades, this reflects the effects of COVID-19 containment measures that followed monetary and fiscal tightening prior to the outbreak. Pakistan Economic Growth and Global Perspective Although domestically the government was following stabilization process, however globally, rising trade tensions posed a risk to the global growth outlook in FY 2019. No claims are made regarding the accuracy of GDP - real growth rate (%) information contained here. Pakistan Economic Growth and Global Perspective Although domestically the government was following stabilization process, however globally, rising trade tensions posed a risk to the global growth outlook in FY 2019. The GDP figure in 2018 was €266,374 $314,588 million, Pakistan is number 41 in the ranking of GDP of the 196 countries that we publish. ... GDP per capita growth (annual %) Download. Pakistan has a growing semi-industrialized economy that relies on manufacturing, agriculture and remittances. GDP growth (annual %) - Pakistan from The World Bank: Data. GDP 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. Pakistan’s GDP growth, according to a recent report by Moody’s Investors Service, is expected to be closer to 5 percent in both fiscal year 2017 and 2018, while the fiscal deficit will be wider than expected. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Pakistan’s GDP grew by 3.3 percent in the closing financial year 2018-19 amid tough economic scenario and introduction of structural reforms in the economy. GDP 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. Direct access to our calendar releases and historical data. Pakistan from The World Bank: Data. Most Recent Year. The economy likely recovered in Q1 of this fiscal year—which began in July 2020—after GDP growth slowed significantly in FY 2020 (July 2019–June 2020) due to lockdown measures imposed at the tail end of the year. Its overall score has decreased by 0.2 point because of a drop in the fiscal health score. Pakistan's economic growth, after reaching an 11-year high of 5.8 per cent in FY18, is expected to see a decline over the next two years, the World Bank has predicted. Pakistan reached an all time high of 10.35% in 1970 and a record low of 0.47% … ... (2018), Pakistan needs another 60 years to get all children of school going age into school. Pakistan economic growth for 2019 was $278.22B, a 11.55% decline from 2018. Most Recent Value. “When the incumbent government came to power, the economy was in a shambles. Publish your articles and forecasts in our website. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). During period 1961 to 2017, Pakistan grew by more than 10% in 3 years while India never. The official figures are much better than the expectations of economists who have predicted about 7.5-7.6 per cent Q1 growth. FY2018. 1952-2018 Data | 2020-2021 Forecast | Historical | Chart. Access the latest politics analysis and economic growth summary through 2011 for Pakistan from The Economist Intelligence Unit ... -June), growing by 0.8%, partly owing to the government’s fiscal consolidation efforts. In Bangladesh, the real GDP growth is estimated at 8.1 per cent in 2019, up from 7.9 per cent in 2018, the report said, adding that the country's growth is projected at 7.2 per cent in 2020 and 7.3 per cent in 2021. Positive Aspects In October 2016, the IMF chief Christine confirmed her economic assessment in Islamabad that Pakistan's economy was 'out of crisis' The World Bank predicts that by 2018, Pakistan's economic growth will increase 5.4% due to greater foreign investment, namely from the China-Pakistan Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Pakistan November Wholesale Inflation Edges Down to 5%, Pakistan Inflation Rate Eases to 8.4% in November, Moody's Changes Pakistan Outlook to Stable, Egypt Inflation Rate Eases to 5.4% in December, FDI into the Philippines Smallest in 6 Months, Brazilian Shares Finish at New Record High. Countries by Real GDP Growth Rate in 2018 (Data from IMF WEO Database, April 2020) This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate ; the rate of growth of the value of all final goods and services produced within a … The WB has revised its projection for GDP growth rate for Pakistan for three years as the growth rate for 2018-19 was revised downward to negative 0.1 percent and the growth rate for 2019-20 was slashed down to negative 0.3 percent. GDP growth rate reduced from 5.8% to 2.9% as calculated by international financial institutions. Pakistan is one of the poorest and least developed countries in Asia. For agriculture sector, the government is projecting a growth rate of 3.8 percent for FY 2018-19 and 7.8 percent for the industrial sector. Please check your download folder. DataBank. Average annual growth fell to 4.6% in the 1990s with significantly lower growth in the second half of that decade. WDI Tables. Pakistan’s GDP growth has gradually increased since 2012, and was 5.3% in 2017. Annual percentage growth rate of GDP at market prices based on constant local currency. Average annual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. Gross domestic product scenario. Pakistan’s GDP growth is expected to fall to 3.4 per cent in the fiscal year 2019 from 5.8 per cent in FY2018, and to 2.7 per cent in FY2019-20. Country. Pakistan Economic Outlook. There are two main systems of common currency conversion: nominal and PPP. It is calculated without making deductions for … India vs. Pakistan: Economic Comparision 2018 As of now the size of India Economy has become $2088 billion which tagged it as the 7th largest economy in the whole world. Pakistan - GDP growth (annual %) The value for GDP growth (annual %) in … Download historical data for 20 million indicators using your browser. Pakistan’s economic freedom score is 54.8, making its economy the 135th freest in the 2020 Index. Pakistan’s economic freedom score is 54.8, making its economy the 135th freest in the 2020 Index. Balance of payments … Pakistan GDP (Gross Domestic Product) was INT$1,083.93billion for 2019 in PPP terms. Thematic data tables from WDI. Pakistan achieved a growth rate of 5.3% during fiscal year 2016-17, the highest in a decade, but it was short of the government’s targeted 5.7%. Human development continues to lag behind most of the region. The GDP growth had reached the lowest level of 0.36 percent in FY 2009 and thereafter it remained volatile with an average of 2.82 percent between FY 2008 and FY 2013. Pakistan’s real GDP growth is estimated to have declined from 1.9 percent in FY19 to -1.5 percent in FY20. ... China, … If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. 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. But in its March 2018 report on Pakistan, the fund projected the economic growth rate at 4.7% for the current fiscal year when Pakistan was following expansionary fiscal policies. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. These two approaches to GDP estimation have separate strengths and are generally used for different reasons. Data. ... though it declined about 10% between November 2017 and March 2018. Despite this, Pakistan's average economic growth rate since independence has been higher than the average growth rate of the world economy during the same period. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. In 2018, the interest rate in Pakistan was at approximately 6.33 percent, higher than the previous year's rate of 4.04 percent. Search, browse and map more than 10,000 projects from 1947 to the present. Pakistan’s GDP growth, according to a recent report by Moody’s Investors Service, is expected to be closer to 5 percent in both fiscal year 2017 and 2018, while the fiscal deficit will be wider than expected. The Asian Development Bank has projected Pakistan’s economic growth rate will decrease to 5.1 percent for FY 2018-19, IMF at 4.7 percent because of fears the economy would slow down because of issues on the external front. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. 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