page_title: Pakistan
section_title: Economy
hierarchical_section_title: Pakistan / Economy
caption_attribution_description: English: Statue of a bull outside Islamabad Stock Exchange, Islamabad, Pakistan.
context_page_description: Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the world's fifth-most populous country with a population exceeding 212.2 million. It has the world's second-largest Muslim population. It is the 33rd-largest country by area, spanning 881,913 square kilometres. Pakistan has a 1,046-kilometre coastline along the Arabian Sea and Gulf of Oman in the south and is bordered by India to the east, Afghanistan to the west, Iran to the southwest, and China to the northeast. It is separated narrowly from Tajikistan by Afghanistan's Wakhan Corridor in the northwest, and also shares a maritime border with Oman.
  The territory that now constitutes Pakistan was the site of several ancient cultures and intertwined with the history of the broader Indian subcontinent. The ancient history involves the Neolithic site of Mehrgarh and the Bronze Age Indus Valley Civilisation, and was later home to kingdoms ruled by people of different faiths and cultures, including Hindus, Indo-Greeks, Muslims, Turco-Mongols, Afghans and Sikhs.
context_section_description: Economy of Pakistan is the 23rd largest in the world in terms of purchasing power parity (PPP), and 42nd largest in terms of nominal gross domestic product. Economists estimate that Pakistan was part of the wealthiest region of the world throughout the first millennium CE, with the largest economy by GDP. This advantage was lost in the 18th century as other regions such as China and Western Europe edged forward. Pakistan is considered a developing country and is one of the Next Eleven, a group of eleven countries that, along with the BRICs, have a high potential to become the world's largest economies in the 21st century.
  In recent years, after decades of social instability, as of 2013, serious deficiencies in macromanagement and unbalanced macroeconomics in basic services such as rail transportation and electrical energy generation have developed. The economy is considered to be semi-industrialized, with centres of growth along the Indus River. The diversified economies of Karachi and Punjab's urban centres coexist with less-developed areas in other parts of the country, particularly in Balochistan. According to the Economic complexity index, Pakistan is the 67th-largest export economy in the world and the 106th most complex economy. During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion.
  As of 2019, Pakistan's estimated nominal GDP is US$284.2 billion. The GDP by PPP is US$1.254 trillion. The estimated nominal per capita GDP is US$1,388, the GDP (PPP)/capita is US$6,016 (international dollars), According to the World Bank, Pakistan has important strategic endowments and development potential. The increasing proportion of Pakistan's youth provides the country with both a potential demographic dividend and a challenge to provide adequate services and employment. 21.04% of the population live below the international poverty line of US$1.25 a day. The unemployment rate among the aged 15 and over population is 5.5%. Pakistan has an estimated 40 million middle class citizens, projected to increase to 100 million by 2050. A 2015 report published by the World Bank ranked Pakistan's economy at 24th-largest in the world by purchasing power and 41st-largest in absolute terms. It is South Asia's second-largest economy, representing about 15.0% of regional GDP.
  Pakistan's economic growth since its inception has been varied. It has been slow during periods of democratic transition, but robust during the three periods of martial law, although the foundation for sustainable and equitable growth was not formed. The early to middle 2000s was a period of rapid economic reforms; the government raised development spending, which reduced poverty levels by 10% and increased GDP by 3%. The economy cooled again from 2007. Inflation reached 25.0% in 2008, and Pakistan had to depend on a fiscal policy backed by the International Monetary Fund to avoid possible bankruptcy. A year later, the Asian Development Bank reported that Pakistan's economic crisis was easing. The inflation rate for the fiscal year 2010–11 was 14.1%. Since 2013, as part of an International Monetary Fund program, Pakistan's economic growth has picked up. In 2014 Goldman Sachs predicted that Pakistan's economy would grow 15 times in the next 35 years to become the 18th-largest economy in the world by 2050. In his 2016 book, The Rise and Fall of Nations, Ruchir Sharma termed Pakistan's economy as at a 'take-off' stage and the future outlook until 2020 has been termed 'Very Good'. Sharma termed it possible to transform Pakistan from a "low-income to a middle-income country during the next five years".
  Pakistan is one of the largest producers of natural commodities, and its labour market is the 10th-largest in the world. The 7-million–strong Pakistani diaspora contributed US$19.9 billion to the economy in 2015–16. The major source countries of remittances to Pakistan are: the UAE; the United States; Saudi Arabia; the Gulf states (Bahrain, Kuwait, Qatar, and Oman); Aust
caption: The Pakistan Stock Exchange is one of the worst-performing markets in the world. According to Bloomberg, in the two years before 2019 Pakistan stocks have erased more than half of their combined market value.[357]
exif: {"Image ImageDescription": "OLYMPUS DIGITAL CAMERA", "Image Make": "OLYMPUS_IMAGING_CORP.", "Image Model": "X450,D535Z,C370Z", "Image Orientation": "Horizontal (normal)", "Image XResolution": "200", "Image YResolution": "200", "Image ResolutionUnit": "Pixels/Inch", "Image Software": "1.4", "Image DateTime": "2019:02:04 02:56:30", "Image YCbCrPositioning": "Co-sited", "Image ExifOffset": "568", "Image PrintIM": "[80, 114, 105, 110, 116, 73, 77, 0, 48, 50, 53, 48, 0, 0, 20, 0, 1, 0, 20, 0, ... ]", "Thumbnail Compression": "JPEG (old-style)", "Thumbnail XResolution": "72", "Thumbnail YResolution": "72", "Thumbnail ResolutionUnit": "Pixels/Inch", "Thumbnail JPEGInterchangeFormat": "2284", "Thumbnail JPEGInterchangeFormatLength": "6761", "EXIF ExposureTime": "1331/500000", "EXIF FNumber": "29/10", "EXIF ExposureProgram": "Program Normal", "EXIF ISOSpeedRatings": "64", "EXIF ExifVersion": "0221", "EXIF DateTimeOriginal": "2019:02:04 02:56:30", "EXIF DateTimeDigitized": "2019:02:04 02:56:30", "EXIF ComponentsConfiguration": "YCbCr", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "307/100", "EXIF MeteringMode": "CenterWeightedAverage", "EXIF LightSource": "Unknown", "EXIF Flash": "Flash did not fire, compulsory flash mode", "EXIF FocalLength": "29/5", "EXIF FlashPixVersion": "0100", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "1600", "EXIF ExifImageLength": "1200", "Interoperability InteroperabilityIndex": "R98", "Interoperability InteroperabilityVersion": "[48, 49, 48, 48]", "EXIF InteroperabilityOffset": "2160", "EXIF FileSource": "Digital Camera", "EXIF CustomRendered": "Normal", "EXIF ExposureMode": "Auto Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "1", "EXIF SceneCaptureType": "Standard", "EXIF GainControl": "None", "EXIF Contrast": "Normal", "EXIF Saturation": "Normal", "EXIF Sharpness": "Normal"}