Pakistan’s economy is the 24th largest in the world in terms of purchasing power parity, and it is considered a developing economy. Its major industries include textiles, food processing, pharmaceuticals, construction materials, and agriculture. Pakistan has a growing services sector, particularly in information technology, financial services, and telecommunications. The country also benefits from its strategic location, serving as a gateway between Asia and the Middle East. However, Pakistan faces various economic challenges, such as inflation, a large informal sector, and a relatively low tax-to-GDP ratio.