Pakistan - Economy
How is the economy of Pakistan? Based on the information we have, Pakistan has a lower middle-income South Asian economy; extremely high debt; endemic corruption; major currency devaluation; major food insecurity and inflation; environmentally fragile agricultural sector; regional disputes with India and Afghanistan hinder investment. Key agricultural products in this country include: sugarcane, bison milk, wheat, milk, rice, maize, potatoes, mangoes/guavas, cotton, onions (2022).
More about the economy of Pakistan
| Labor force | 80.99 million (2023 est.) |
|---|---|
| Industrial production growth rate | -3.76% (2023 est.) |
| Industries | textiles and apparel, food processing, pharmaceuticals, surgical instruments, construction materials, paper products, fertilizer, shrimp |
| Population below poverty line | 21.9% (2018 est.) |
| Taxes and other revenues | 15.4% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Pakistani rupees (PKR) per US dollar - |
| Exchange rates 2023 | 280.356 (2023 est.) |
| Exchange rates 2022 | 204.867 (2022 est.) |
| Exchange rates 2021 | 162.906 (2021 est.) |
| Exchange rates 2020 | 161.838 (2020 est.) |
| Exchange rates 2019 | 150.036 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $107.527 billion (2019 est.) |
| Debt - external 2018 | $95.671 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $13.73 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $9.927 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $22.812 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$350.044 million (2023 est.) |
| Current account balance 2022 | -$12.216 billion (2022 est.) |
| Current account balance 2021 | -$12.283 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 67% of GDP (2017 est.) |
| Budget | |
| Revenues | $38.966 billion (2020 est.) |
| Expenditures | $59.621 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 7.85% of GDP (2023 est.) |
| Remittances 2022 | 8.05% of GDP (2022 est.) |
| Remittances 2021 | 8.98% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 4.2% (2018 est.) |
| Highest 10% | 25.5% (2018 est.) |
| Average household expenditures | |
| On food | 39.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 1.1% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $57.806 billion (2023 est.) |
| Imports 2022 | $76.594 billion (2022 est.) |
| Imports 2021 | $76.514 billion (2021 est.) |
| Imports (partners) | China 28%, UAE 8%, Indonesia 6%, Saudi Arabia 6%, Kuwait 5% (2022) |
| Comodities Imports force | refined petroleum, crude petroleum, natural gas, palm oil, cotton (2022) |
| Exports | |
| Imports 2023 | $57.806 billion (2023 est.) |
| Imports 2022 | $76.594 billion (2022 est.) |
| Imports 2021 | $76.514 billion (2021 est.) |
| Exports (partners) | US 17%, Germany 7%, China 7%, UAE 7%, UK 6% (2022) |
| Comodities Exports force | garments, fabric, cotton fabric, rice, refined petroleum (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $1.347 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.347 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $1.285 trillion (2021 est.) |
| GDP (official exchange rate) | $338.368 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $5,600 (2023 est.) |
| Real GDP per capita 2022 | $5,700 (2022 est.) |
| Real GDP per capita 2021 | $5,600 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 24.4% (2016 est.) |
| Industry | 19.1% (2016 est.) |
| Services | 56.5% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 82% (2017 est.) |
| Government consumption | 11.3% (2017 est.) |
| Investment in fixed capital | 14.5% (2017 est.) |
| Investment in inventories | 1.6% (2017 est.) |
| Exports of goods and services | 8.2% (2017 est.) |
| Imports of goods and services | -17.6% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.5% (2023 est.) |
| Unemployment rate 2022 | 5.55% (2022 est.) |
| Unemployment rate 2021 | 6.34% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 9.7% (2023 est.) |
| Male | 9.3% (2023 est.) |
| Female | 10.7% (2023 est.) |
All Important Facts about Pakistan
Want to know more about Pakistan? Check all different factbooks for Pakistan below.
