| Pakistan, an impoverished
and underdeveloped country, has suffered from decades of internal
political disputes, low levels of foreign investment, and declining
exports of manufactures. Faced with untenable budgetary deficits,
high inflation, and hemorrhaging foreign exchange reserves, the
government agreed to an International Monetary Fund Standby
Arrangement in November 2008. Between 2004-07, GDP growth in the
6-8% range was spurred by gains in the industrial and service
sectors, despite severe electricity shortfalls. Poverty levels
decreased by 10% since 2001, and Islamabad steadily raised
development spending in recent years. In 2008 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 24.4% in
2008, primarily because of rising world fuel and commodity prices.
In addition, the Pakistani rupee has depreciated significantly as a
result of political and economic instability. |
| GDP
(purchasing power parity): |
$452.7 billion (2008 est.) $427.9
billion (2007) $404.5 billion (2006) |
| GDP
(official exchange rate): |
$160.9 billion (2008 est.) |
| GDP -
real growth rate: |
5.8% (2008 est.) |
| GDP -
per capita (PPP): |
$2,600 (2008 est.) |
| GDP -
composition by sector: |
agriculture: 20.4%
industry: 26.6%
services: 53% (2008 est.) |
| Labor
force: |
50.58 million note: extensive export
of labor, mostly to the Middle East, and use of child labor (2008
est.) |
| Labor
force - by occupation: |
agriculture: 43%
industry: 20.3%
services: 36.6% (2005 est.) |
| Unemployment
rate: |
7.4% plus substantial underemployment
(2008 est.) |
| Population
below poverty line: |
24% (FY05/06 est.) |
| Household
income or consumption by percentage share: |
lowest 10%: 4%
highest 10%: 26.3% (2002) |
| Distribution
of family income - Gini index: |
30.6 (FY07/08) |
| Inflation
rate (consumer prices): |
20.8% (2008 est.) |
| Investment
(gross fixed): |
20% of GDP (2008 est.) |
| Budget: |
revenues: $22.14 billion
expenditures: $32.09 billion (2008 est.) |
| Public
debt: |
49.8% of GDP (2008 est.) |
| Agriculture
- products: |
cotton, wheat, rice, sugarcane,
fruits, vegetables; milk, beef, mutton, eggs |
| Industries: |
textiles and apparel, food processing,
pharmaceuticals, construction materials, paper products, fertilizer,
shrimp |
| Industrial
production growth rate: |
4.6% (2008 est.) |
| Electricity
- production: |
93.26 billion kWh (2007 est.) |
| Electricity
- consumption: |
68.4 billion kWh (2006 est.) |
| Electricity
- exports: |
0 kWh (2007 est.) |
| Electricity
- imports: |
0 kWh (2007 est.) |
| Oil -
production: |
68,670 bbl/day (2007 est.) |
| Oil -
consumption: |
345,000 bbl/day (2006 est.) |
| Oil -
exports: |
28,060 bbl/day (2005) |
| Oil -
imports: |
290,600 bbl/day (2005) |
| Oil -
proved reserves: |
289.2 million bbl (1 January 2008
est.) |
| Natural
gas - production: |
30.8 billion cu m (2007 est.) |
| Natural
gas - consumption: |
30.8 billion cu m (2007 est.) |
| Natural
gas - exports: |
0 cu m (2007 est.) |
| Natural
gas - imports: |
0 cu m (2007 est.) |
| Natural
gas - proved reserves: |
792.8 billion cu m (1 January 2008
est.) |
| Current
account balance: |
-$10.57 billion (2008 est.) |
| Exports: |
$20.62 billion f.o.b. (2008 est.) |
| Exports
- commodities: |
textiles (garments, bed linen, cotton
cloth, yarn), rice, leather goods, sports goods, chemicals,
manufactures, carpets and rugs |
| Exports
- partners: |
US 18%, UAE 10.4%, Afghanistan 8.4%,
China 5.2%, UK 4.7% (2007) |
| Imports: |
$35.38 billion f.o.b. (2008 est.) |
| Imports
- commodities: |
petroleum, petroleum products,
machinery, plastics, transportation equipment, edible oils, paper
and paperboard, iron and steel, tea |
| Imports
- partners: |
China 16.2%, Saudi Arabia 10.9%, UAE
10.1%, US 5.7%, Kuwait 4.9%, Japan 4.4% (2007) |
| Reserves
of foreign exchange and gold: |
$9.104 billion (31 December 2008 est.) |
| Debt -
external: |
$43.23 billion (31 December 2008 est.) |
| Stock of
direct foreign investment - at home: |
$25.31 billion (2008 est.) |
| Stock of
direct foreign investment - abroad: |
$1.032 billion (2008 est.) |
| Market
value of publicly traded shares: |
$70.26 billion (31 December 2007) |
| Currency
(code): |
Pakistani rupee (PKR) |
| Exchange
rates: |
Pakistani rupees (PKR) per US dollar -
70.64 (2008 est.), 60.6295 (2007), 60.35 (2006), 59.515 (2005),
58.258 (2004) |
| Fiscal
year: |
1 July - 30 June |
