| Economy - overview: |
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, IMF-approved government policies, bolstered
by generous foreign assistance and renewed access to global markets since
late 2001, have generated solid macroeconomic recovery the last two years.
The government has made substantial inroads in macroeconomic reform since
2000, although progress on more politically sensitive reforms has slowed.
For example, in the third and final year of its $1.3 billion IMF Poverty
Reduction and Growth Facility, Islamabad has continued to require waivers
for energy sector reforms. While long-term prospects remain uncertain, given
Pakistan's low level of development, medium-term prospects for job creation
and poverty reduction are the best in nearly a decade. Islamabad has raised
development spending from about 2% of GDP in the 1990s to 4% in 2003, a
necessary step towards reversing the broad underdevelopment of its social
sector. GDP growth is heavily dependent on rain-fed crops, and last year's
end to a four-year drought should support moderate agricultural growth for
the next few years. Foreign exchange reserves continued to reach new levels
in 2003, supported by robust export growth and steady worker remittances.
|
| GDP: |
purchasing power parity -
$318 billion (2003 est.) |
| GDP - real growth
rate: |
5.5% (2003 est.) |
| GDP - per capita: |
purchasing power parity -
$2,100 (2003 est.) |
| GDP - composition
by sector: |
agriculture: 23.3%
industry: 23.5%
services: 53.2% (2003 est.) |
| Investment (gross
fixed): |
12.9% of GDP (2003) |
| Population below
poverty line: |
35% (2001 est.) |
| Household income
or consumption by percentage share: |
lowest 10%: 4.1%
highest 10%: 27.6% (FY96/97) |
| Distribution of
family income - Gini index: |
41 (FY98/99) |
| Inflation rate (consumer
prices): |
2.9% (2003 est.) |
| Labor force: |
43.98 million
note:
extensive export of labor, mostly to the Middle East, and use of child labor
(2003) |
| Labor force - by
occupation: |
agriculture 44%, industry
17%, services 39% (1999 est.) |
| Unemployment rate: |
7.7% plus substantial underemployment
(2003 est.) |
| Budget: |
revenues: $12.08 billion
expenditures: $15.41 billion, including capital expenditures
of NA (2003 est.) |
| Public debt: |
72.7% of GDP (2003) |
| 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: |
7.6% (2003 est.) |
| Electricity - production: |
66.96 billion kWh (2001) |
| Electricity - production
by source: |
fossil fuel: 68.8%
hydro: 28.2%
other: 0% (2001)
nuclear:
3% |
| Electricity - consumption: |
62.27 billion kWh (2001) |
| Electricity - exports: |
0 kWh (2001) |
| Electricity - imports: |
0 kWh (2001) |
| Oil - production: |
62,870 bbl/day (2001 est.)
|
| Oil - consumption: |
365,000 bbl/day (2001 est.)
|
| Oil - exports: |
NA (2001) |
| Oil - imports: |
NA (2001) |
| Oil - proved reserves: |
297.1 million bbl (1 January
2002) |
| Natural gas - production: |
23.4 billion cu m (2001 est.)
|
| Natural gas - consumption: |
23.4 billion cu m (2001 est.)
|
| Natural gas - exports: |
0 cu m NA (2001 est.) |
| Natural gas - imports: |
0 cu m (2001 est.) |
| Natural gas - proved
reserves: |
695.6 billion cu m (1 January
2002) |
| Current account
balance: |
$3.358 billion (2003) |
| Exports: |
$11.7 billion f.o.b. (2003
est.) |
| Exports - commodities: |
textiles (garments, bed linen,
cotton cloth, and yarn), rice, leather goods, sports goods, chemicals, manufactures,
carpets and rugs |
| Exports - partners: |
US 22.6%, UAE 9.4%, UK 6.9%,
Germany 5.3%, Saudi Arabia 4.2%, Hong Kong 4.2% (2003 est.) |
| Imports: |
$12.51 billion f.o.b. (2003
est.) |
| Imports - commodities: |
petroleum, petroleum products,
machinery, plastics, transportation equipment, edible oils, paper and paperboard,
iron and steel, tea |
| Imports - partners: |
UAE 11.6%, China 11.5%, Saudi
Arabia 10.5%, Kuwait 6.4%, Japan 6.3%, US 5.8%, Germany 4.4%, Malaysia 4%
(2003 est.) |
| Reserves of foreign
exchange & gold: |
$11.67 billion (2003) |
| Debt - external: |
$33.54 billion (2003 est.)
|
| Economic aid - recipient: |
$2.4 billion (FY01/02) |
| Currency: |
Pakistani rupee (PKR) |
| Currency code: |
PKR |
| Exchange rates: |
Pakistani rupees per US dollar
- 57.752 (2003), 59.7238 (2002), 61.9272 (2001), 53.6482 (2000), 49.1183
(1999) |
| Fiscal year: |
1 July - 30 June
|
