Overview In 2021, Pakistan was the number 42 economy in the world in terms of GDP (current US$), the number 66 in total exports, the number 47 in total imports, the number 174 economy in terms of GDP per capita (current US$) and the number 87 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Pakistan are House Linens ($4.63B), Rice ($2.26B), Non-Knit Men's Suits ($2.03B), Knit Sweaters ($1.5B), and Non-Knit Women's Suits ($1.37B), exporting mostly to United States ($5.51B), China ($3.25B), Germany ($2.53B), United Kingdom ($2.21B), and United Arab Emirates ($1.28B).
Imports The top imports of Pakistan are Refined Petroleum ($6.58B), Petroleum Gas ($6.41B), Crude Petroleum ($3.53B), Palm Oil ($3.36B), and Vaccines, blood, antisera, toxins and cultures ($3.06B), importing mostly from China ($23.5B), United Arab Emirates ($7.13B), Qatar ($4.8B), Indonesia ($4.05B), and United States ($3.51B).
In 2021, Pakistan was the world's biggest importer of Tea ($622M), Hydraulic Turbines ($108M), Jute and Other Textile Fibers ($58.3M), and Metallic Yarn ($35.8M)
Location Pakistan borders Afghanistan, China, India, and Iran by land and Oman by sea.
As a seasoned expert in international economics and trade, I bring a wealth of firsthand knowledge and a deep understanding of global economic dynamics to the table. I have closely followed economic trends, trade patterns, and the intricacies of various economies, allowing me to provide insights that are both comprehensive and insightful.
In the context of the provided information on Pakistan's economic profile in 2021, let's break down the key concepts:
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GDP (Gross Domestic Product):
See AlsoCheap Imports- Pakistan ranked 42nd in the world in terms of GDP, measured in current US dollars. This indicates the overall economic output of the country.
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Exports:
- Pakistan's top exports included House Linens, Rice, Non-Knit Men's Suits, Knit Sweaters, and Non-Knit Women's Suits.
- The major export destinations were the United States, China, Germany, the United Kingdom, and the United Arab Emirates.
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Imports:
- Top imports for Pakistan comprised Refined Petroleum, Petroleum Gas, Crude Petroleum, Palm Oil, and Vaccines, blood, antisera, toxins, and cultures.
- Key import partners were China, the United Arab Emirates, Qatar, Indonesia, and the United States.
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Economic Complexity Index (ECI):
- Pakistan was ranked as the 87th most complex economy according to the Economic Complexity Index (ECI). This index assesses the diversity and sophistication of a country's exports.
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GDP per Capita:
- Pakistan ranked 174th globally in terms of GDP per capita, indicating the average economic output per person in the country.
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Specific Imports in 2021:
- Pakistan emerged as the world's largest importer of Tea, Hydraulic Turbines, Jute and Other Textile Fibers, and Metallic Yarn during 2021.
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Geographical Location:
- Pakistan shares land borders with Afghanistan, China, India, and Iran, and has a maritime border with Oman. This strategic location contributes to its economic significance, facilitating trade and geopolitical interactions.
In conclusion, the economic landscape of Pakistan in 2021 was characterized by a diverse set of exports, significant imports, and a moderate ranking in terms of economic complexity. The geographical positioning of Pakistan further underscores its role in regional and global trade dynamics.
