What is the GDP of Pakistan in billion? (2024)

What is the GDP of Pakistan in billion?

In 2021, the country had a population of 227 million people. As of FY22, the nominal GDP of Pakistan stands at US$376 billion with a nominal GDP per capita of US$1,658 (177th); its GDP based on PPP stands at US$1.512 trillion with a GDP (PPP) per capita of US$6,662 (168th).

Pakistan, in 2030, will have a (GDP Nominal) of around US$1.0 trillion and (GDP PPP) of around US$3.7 trillion, according to trading economics. This value can be further divided into the unit levels (GSP), providing an outlook of how much value each unit contributes to the national GDP.

According to the Asian Development Outlook (ADO) April 2023, ADB's flagship economic report, Pakistan's gross domestic product (GDP) growth is projected to slow to 0.6% in FY2023 from 6% last fiscal year as the economy struggles to recover.

Pakistan gdp per capita for 2021 was $1,505, a 13.82% increase from 2020. Pakistan gdp per capita for 2020 was $1,322, a 7.99% decline from 2019. Pakistan gdp per capita for 2019 was $1,437, a 11.33% decline from 2018. Pakistan gdp per capita for 2018 was $1,621, a 3.39% increase from 2017.

Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Pakistan, on the other hand, reached USD 1,505 per capita, or 348.26 billion USD for the whole country. Pakistan is therefore currently ranked 42 of the major economies.

GDP in Pakistan averaged 89.96 USD Billion from 1960 until 2021, reaching an all time high of 356.13 USD Billion in 2018 and a record low of 3.75 USD Billion in 1960.

As a point of reference, the US National Intelligence Council, citing Oxford Economics, predicts that by 2040, India's economy will rank 3rd, China's 1st and Pakistan's 23rd. Using a popular macroeconomic model, the Goldman Sachs paper predicts the economic outlook for 104 countries.

Pakistan gdp growth rate for 2021 was 6.49%, a 7.76% increase from 2020.

As per the same report in 2050 Pakistan real gdp would reach 2.7T USD. India and Bangladesh would be at 27T and 2.4T respectivily.By 2050 the gap between india and pak GDP would swell to 24 trillon from current just 2 trillion dollars.

The real total GDP (gross domestic product) in Pakistan is expected to grow by 16.65% by 2026. The GNI (gross national income) in Pakistan is forecast to amount to US$255.60bn in 2025.

How Pakistan can improve its economy?

Green public spaces must be developed, and the education system strengthened to enhance the labor market. Pakistan is well positioned to become a bigger player in international trade if it increases and diversifies its exports to include higher-value products that are growing in global demand.

While Pakistan is nearly one-tenth of India's size in terms of its economy and its GDP is around USD 350 billion only.

Lahore contributes majorly to Pakistan's economy as it's the wealthiest city in the country.

Bank cites 'precarious economic situation, low foreign exchange reserves and large fiscal and current account deficits' among the primary reasons.

Long-term growth of real gross domestic product (GDP) per capita therefore has been low, averaging only around 2.2 percent annually over 2000-22. Pakistan's economy is currently under severe stress with low foreign reserves, a depreciating currency, and high inflation.

India surpassed Pakistan in economic growth rate and became one of the fastest-growing economies in the world in the past three decades. Today, India is the 5th largest economy in the world. In 1970, Pakistan's GDP per capita was $226 vs. India's $112, whereas, in 2022, Pakistan stands at $1400 vs.

Pakistan an under developed country is striving to accelerate its economic growth and catch up with the pace of the fast growing economies of the region.

[citation needed] Sindh is the richest province of Pakistan in natural resources of gas, petrol, and coal.

Which country has strongest GDP?

According to the latest available data from the World Bank, the United States of America is currently the world's largest economy, with a GDP of over $23 trillion in 2021.

According to the study, India took the number one spot on the most attractive nationalities list while Pakistan came on the 27th.

India has scored 80 points on the Global Law and Order Index ranking in the 60^th position. In terms of rankings, the country is below its neighbours Pakistan and Sri Lanka. But on the brighter side it's also placed above countries in terms of points like United Kingdom (79) and Bangladesh (79).

Pakistan's foreign debts amount to about $100bn (£83bn), meaning that the share owed to China is just under one-third. But China is Pakistan's biggest single creditor and tends to charge relatively high interest rates compared with multilateral lenders.

There is a real danger that Pakistan could default on its debt, which could lead to intensifying political turmoil amid already surging terrorism. Pakistan's stability increasingly depends on the outcome of an ever-worsening economic crisis.

However, based on current trends and projections, here are some possible scenarios for Pakistan's economy in 2030. Economic Growth: Pakistan's economy is projected to continue to grow steadily, with a projected GDP growth rate of around 5% to 6% per year.

Gross domestic product (GDP) at purchasing power parity (PPP) terms is expected to grow from USD 628 billion in 2016 to USD 1,324 billion in 2030 and USD 3,064 billion by 2050.

This statistic shows the projected top ten largest national economies in 2050. By 2050, China is forecasted to have a gross domestic product of over 58 trillion U.S. dollars.

What is the ranking of Pakistan in economic Ranking 2023?

Pakistan (Ranked 136th) :: Legatum Prosperity Index 2023.

UN assistance reached directly 26.1 million Afghans with some form of aid, while helping to stabilize the exchange rate, curb inflation and affect other economic indicators. The new report projects that the 2023 GDP in Afghanistan could increase by 1.3 percent if the level of foreign aid remains at $3.7 billion.

Pakistan Inflation

Excessive external borrowings by the country over the years raised the spectre of default, causing the currency to fall and making imports more expensive in relative terms. By June 2022, inflation was at an all time high, along with rising food prices.

Consumption, investment and exports are the drivers of the country with exports being the biggest driver of economic growth. Most of Pakistan's exports are to Afghanistan, United States of America, United Arab Emirates, European Union, the United Kingdom and the Middle East.

​Agriculture constitutes the largest sector of our economy. Majority of the population, directly or indirectly, dependent on this sector.

GDP Growth Rate in Pakistan averaged 4.93 percent from 1952 until 2018, reaching an all time high of 10.22 percent in 1954 and a record low of -1.80 percent in 1952. This page provides - Pakistan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Under these circ*mstances, the Planning Ministry has predicted that the size of Bangladesh's economy will be $1 trillion by 2040 if the growth falls below 5%. On the other hand, if economic growth increases to 8-9% and internal stability is maintained, it will reach $1 trillion by 2030.

The Pakistan real estate forecast 2023 has indicated that it is also going to be a year of boom for the real estate market like the previous year due to many reasons such as unstable gold prices, inflation and unstable stock market etc.

In 1990, India and Pakistan had almost identical per-capita GDPs, a little under US$370 per person. But by 2021, India's had surged to $2,277, about 50% higher than Pakistan's. The reasons for their different choices have a lot to do with politics.

In absolute terms, 41.6 per cent of India's 1.1 billion people earned less than 78 pence per day compared with 22.6 per cent of Pakistan's 173 million. Hence, Poverty ratio is twice in India as compared to Pakistan.

Which country has more poor India or Pakistan?

According to official figures, the international poverty rate is the highest in India among the eight countries in the region. India also has the largest number of extreme poor among these countries, 239 million, which is about 28% of the world's extreme poor.

Since Islamabad is amongst the most expensive cities in Pakistan, Park View City proves to be the most expensive residential area in all of Pakistan. The rates of these residential plots are: 5 Marla is worth PKR 15,000,000.

Born on July 18, 1950, Shahid Khan is the richest person of Pakistan. Shahid Khan, the owner of Flex-N-Gate, is a billionaire businessman and sports tycoon. Flex-N-Gate supplies motor vehicle components.

By and large, the poorest districts of Pakistan are belonging to Baluchistan (i.e., Sherani, Kohlu, Chaghi, and Dera Bugti) and Sindh (i.e., Badin, Umerkot, Tando Muhammad Khan, and Tharparker) provinces; however, districts of Punjab (i.e., Lahore, Rawalpindi, and Gujranwala) province are found relatively lower asset- ...

This huge public expenditure acted as a drain on the country's economic resources. Insufficient Foreign Investment: Pakistan also failed to attract sufficient foreign investment due to lack of political stability, low degree of international credibility and lack of well developed infrastructure.

Pakistan is one of the world's leading producers of opium poppy (for the production of heroin) and also produces or transports cannabis (as hashish) from Afghanistan for local markets and for reexport abroad. Animal husbandry provides important domestic and export products.

By that time, the research projects Pakistan's real GDP to have grown to $12.7 trillion and its GDP per capita to $27,100. These numbers, however, are projected to be less than a third of the size of China, India and the US.

India has already become the world's fifth largest economy in the 75th year of Independence and will reach the $3.5 trillion mark by end-March, said the Economic Survey tabled in Parliament on Tuesday. In real terms, the economy is expected to grow at 7 per cent for the year ending March 2023.

India gdp for 2021 was $3,176.30B, a 19.07% increase from 2020.

Who has the highest GDP in billion?

Pakistan Economic Outlook

Data published thus far suggests the economy has weakened in FY 2023 (July 2022–June 2023) to date. Exports and remittances fell 10% year on year in July–March, and the Purchasing Managers' Index has been bogged down in contractionary territory.

Pakistan gdp growth rate for 2021 was 6.49%, a 7.76% increase from 2020. Pakistan gdp growth rate for 2020 was -1.27%, a 3.77% decline from 2019.

India is currently a $ 3.1 trillion economy. It took India 60 years since Independence to become one trillion-dollar economy, but the next trillion dollars was added only in 7 years. The 3rd trillion was added in just 5 years in 2019.

$26.854 trillion (PPP; 2023 est.)

Meanwhile, Asia's largest economy grew slower than India's for the first time since 2016. China's National Bureau of Statistics reported the country's annual GDP to be ¥121.02 trillion ($17.94 trillion), a 3% increase from the previous year. China's GDP exceeded ¥100 trillion for the first time in 2020.

As of 2021, India's economy is $10.207 trillion (purchasing power parity) and accounts for a 7.19% share of world GDP (PPP).

It is the only middle-income economy and the only newly industrialized economy in the top 30. It is often ranked among the world's most innovative countries, leading several measures of global patent filings. China has the second-largest financial assets in the world, valued at $17.9 trillion as of 2021.

For several years, the nation's debt has been bigger than its gross domestic product, which was $26.13 trillion in the fourth quarter of 2022. Debt-to-GDP is a useful metric for analyzing the debt over long time spans, as it puts the debt into relative terms by comparing it against the size of the national economy.

GDP Per Capita in the Seven Wealthiest Countries, 1870 to 1930. By the turn of the century, the United States boasted the world's largest GDP per capita.

Where does California rank in economy?

Boasting of his state's robust economic growth, California Gov. Gavin Newsom recently declared that “California's values and entrepreneurial spirit have powered this ascent to becoming the 4th biggest economy in the world.”