Pakistan economic growth for 2019 was $278.22B, a 11.55% decline from 2018. Thus, the volatility of economic growth rate is independent of the education budget. Pakistan’s economy achieved growth rate of 4.7 percent in 2015/16, the highest in the past eight years. Pakistan’s GDP grew by 3.3 percent in the closing financial year 2018-19 amid tough economic scenario and introduction of structural reforms in the economy. As the graph below shows, over the past 57 years this indicator reached a maximum value of 11.35 in 1970 and a minimum value of 0.47 in 1971. For next fiscal year, the WB projected negative growth rate of 1 percent for 2020-21. Economic indicators for Pakistan Pakistan's GDP expected to contract by 0.4% in 2020 and grow by 2.0% in 2021 – ADO 2020 Update Pakistan's inflation rates forecasted at 10.7% in 2020 and 7.5% in 2021 – ADO 2020 Update Pakistan’s real GDP growth is estimated to have declined from 1.9 percent in FY19 to -1.5 percent in FY20. Although since 2005 the GDP has been growing an average 5 percent a year, it is not enough to keep up with fast population growth. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Economic indicators for Pakistan Pakistan's GDP expected to contract by 0.4% in 2020 and grow by 2.0% in 2021 – ADO 2020 Update Pakistan's inflation rates forecasted at 10.7% in 2020 and 7.5% in 2021 – ADO 2020 Update In 2018, the interest rate in Pakistan was at approximately 6.33 percent, higher than the previous year's rate of 4.04 percent. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Please check your download folder. No claims are made regarding the accuracy of GDP - real growth rate (%) information contained here. Growth is then expected to gradually recover to 6.9 per cent in fiscal year 2021 and to 7.2 per cent in the following year. While Pakistan’s current account deficit contracted by 9.2pc month-on-month in March 2018, the current account deficit widened 50.5pc to reach 3.8pc of GDP … Human development continues to lag behind most of the region. Pakistan’s GDP grew by 3.3 percent in the closing financial year 2018-19 amid tough economic scenario and introduction of structural reforms in the economy. Pakistan Economic Growth and Global Perspective Although domestically the government was following stabilization process, however globally, rising trade tensions posed a risk to the global growth outlook in FY 2019. Global Economic Prospects examines trends for the world economy and how they affect developing … Office Information. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out . In 2018, the estimated average inflation rate in Pakistan amounted to about 3.93 percent compared to the previous year, a slight drop from 2017, but … DataBank. ... GDP per capita growth (annual %) Download. Pakistan real GDP growth was at level of 1.9 % in 2019, down from 5.5 % previous year. NOTE: The information regarding GDP - real growth rate (%) on this page is re-published from the CIA World Factbook 2018. ... though it declined about 10% between November 2017 and March 2018. Pakistan needs good governance and sustainable economy that can be achieved by reducing the militancy (Akhter & Iraqi , 2018). There are two main systems of common currency conversion: nominal and PPP. Others. The official figures are much better than the expectations of economists who have predicted about 7.5-7.6 per cent Q1 growth. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The first contraction in decades, this reflects the effects of COVID-19 containment measures that followed monetary and fiscal tightening prior to the outbreak. Annual percentage growth rate of GDP at market prices based on constant local currency. Pakistan - GDP growth (annual %) The value for GDP growth (annual %) in … Pakistan’s GDP growth has gradually increased since 2012, and was 5.3% in 2017. International Monetary Fund (IMF) has projected an increase in the inflation rate for Pakistan to 7.5 percent (from 3.9 percent in 2018) and revised GDP growth rate … It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Pakistan economic growth for 2018 was $314.57B, a 3.28% increase from 2017. 1952-2018 Data | 2020-2021 Forecast | Historical | Chart. Pakistan reached an all time high of 10.35% in 1970 and a record low of 0.47% in 1971. 5 . 2018: The Year That Was ... Pakistan's gross domestic product recorded its highest growth in 10 years of 5.3 per cent during the outgoing fiscal year 2016-17. Pakistan’s real GDP growth is estimated to have declined from 1.9 percent in FY19 to -1.5 percent in FY20. WDI Tables. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. India attains maximum gdp growth rate of 9.63% in year 1988 and minimum -5.24% in 1979. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Pakistan November Wholesale Inflation Edges Down to 5%, Pakistan Inflation Rate Eases to 8.4% in November, Moody's Changes Pakistan Outlook to Stable, Egypt Inflation Rate Eases to 5.4% in December, FDI into the Philippines Smallest in 6 Months, Brazilian Shares Finish at New Record High. For agriculture sector, the government is projecting a growth rate of 3.8 percent for FY 2018-19 and 7.8 percent for the industrial sector. Pakistan's average economic growth rate in the first five decades (1947–1997) has been higher than the growth rate of the world economy during the same period. New and Supplemental Projects by Fiscal Year. Online tool for visualization and analysis. Pakistan's population has grown rapidly from around 30 million in 1947 to over 130 million in 1996. Pakistan from The World Bank: Data. Access the latest politics analysis and economic growth summary through 2011 for Pakistan from The Economist Intelligence Unit ... -June), growing by 0.8%, partly owing to the government’s fiscal consolidation efforts. Average annual growth fell to 4.6% … Pakistan has a growing semi-industrialized economy that relies on manufacturing, agriculture and remittances. The Gross Domestic Product (GDP) in Pakistan expanded 5.79 percent in fiscal year 2017/18, ending in June 2018. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. grew at a rate of 1.6% per annum and manufacturing grew at a rate of 7.7% per annum in the 1950s.24 In 1959-60, Per Capita GNP was Rs.355 in West Pakistan and Rs.269 in East Pakistan.25 The 1960s: era of economic growth Amidst massive inflow of American aid, political stability enabled Pakistan to sustain high It is calculated without making deductions for … Its overall score has decreased by 0.2 point because of a drop in the fiscal health score. Its overall score has decreased by 0.2 point because of a drop in the fiscal health score. Since FY 2014 Pakistan’s economy has been … Countries by Real GDP Growth Rate in 2018 (Data from IMF WEO Database, April 2020) This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate ; the rate of growth of the value of all final goods and services produced within a … World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. Publish your articles and forecasts in our website. The IMF programme to support Pakistan’s external account is expected to restart in early 2021. Pakistan’s GDP growth, according to a recent report by Moody’s Investors Service, is expected to be closer to 5 percent in both fiscal year 2017 and 2018, while the fiscal deficit will be wider than expected. Aggregates are based on constant 2010 U.S. dollars. The economy likely recovered in Q1 of this fiscal year—which began in July 2020—after GDP growth slowed significantly in FY 2020 (July 2019–June 2020) due to lockdown measures imposed at the tail end of the year. Most Recent Value. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. In 2018, the growth rate for the world GDP was 3.6%. Despite several internal and external challenges, Pakistan's gross domestic product recorded its highest growth in 10 years of 5.3 per cent during the outgoing fiscal year 2016-17. Growth projections have been revised down since the April 2020 Regional Economic Outlook, the IMF says in … Pakistan economic growth for 2018 was $314.57B, a 3.28% increase from 2017. To compare GDPs around the world, currencies must be converted so that they’re consistent across all countries. Positive Aspects In October 2016, the IMF chief Christine confirmed her economic assessment in Islamabad that Pakistan's economy was 'out of crisis' The World Bank predicts that by 2018, Pakistan's economic growth will increase 5.4% due to greater foreign investment, namely from the China-Pakistan Average annual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. These two approaches to GDP estimation have separate strengths and are generally used for different reasons. CPEC will add 2.5% into current GDP which will increase the GDP growth rate to 7.5%. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. To make things even worst, political instability, widespread corruption and lack of law enforcement hamper private investment and foreign aid. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Pakistan was a middle class and predominantly agricultural country when it gained independence in 1947. Pakistan GDP Last Previous Highest Lowest Unit; GDP Annual Growth Rate 1.91: 5.53: 10.22-1.80: percent: GDP 278.22: 314.57: 314.57: 3.71: USD Billion: GDP Constant Prices 13570459.00: 13132237.00: 13570459.00: 8216160.00: PKR Million: Gross National Product 14435379.00: 13806113.00 - GDP growth was recorded at 5.8 percent in 2018. Pakistan is one of the poorest and least developed countries in Asia. Resident Representative for Pakistan Teresa Daban Sanchez Resident Representative . Search, browse and map more than 10,000 projects from 1947 to the present. ... Pakistan GDP: 1,084 trillion International Dollars (2019) Gross Domestic Product (PPP in 2011 prices) … GDP growth rate reduced from 5.8% to 2.9% as calculated by international financial institutions. Official unemployment was 6% in 2017, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Definition: Annual percentage growth rate of GDP at market prices based on constant local currency. Pakistan's economic growth, after reaching an 11-year high of 5.8 per cent in FY18, is expected to see a decline over the next two years, the World Bank has predicted. ... Outlook in fiscal year 2018, projections for growth and inflation are maintained, but the current account deficit is expected to exceed the earlier forecast again by a wide margin. Pakistan economic growth for 2019 was $278.22B, a 11.55% decline from 2018. Pakistan's vision 2030 aims at achieving 7–8% of GDP percent till 2030. GDP at current prices in Q1 of 2018-19 is estimated at Rs 44.33 lakh crore, as against Rs 38.97 lakh crore in Q1 of 2017-18, showing a growth rate of 13.8 percent. The Asian Development Bank has projected Pakistan’s economic growth rate will decrease to 5.1 percent for FY 2018-19, IMF at 4.7 percent because of fears the economy would slow down because of issues on the external front. Direct access to our calendar releases and historical data. The absolute value of GDP in Pakistan dropped €3,226 $10,021 million with respect to 2017. GDP is the sum of gross … Selected Countries and Economies. Pakistan’s economic freedom score is 54.8, making its economy the 135th freest in the 2020 Index. Pakistan gdp … Pakistan real GDP growth was at level of 1.9 % in 2019, down from 5.5 % previous year. November 17, 2020. Average annual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. All suggestions for corrections of any errors about GDP - real growth rate (%) should be addressed to the CIA. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The GDP figure in 2018 was €266,374 $314,588 million, Pakistan is number 41 in the ranking of GDP of the 196 countries that we publish. Interest rate in pakistan expanded 5.79 percent in fiscal year 2021 and to 7.2 per cent in fiscal 2021. ( coronavirus ) showing how things have gone wrong with the pakistan ’ s GDP growth rate 7.5. Predicted about 7.5-7.6 per cent in fiscal year 2021 and to 7.2 per cent fiscal! Higher than the figure of 5.2 % published in 2017 % ) information contained.... Figures are much better than the previous year 2.5 % into current GDP which will increase the growth! Is projecting a growth rate of 1 percent for 2020-21 compare GDPs around World! However, projected the country ’ s economy agricultural country when it gained independence in 1947 the following are key. Search, browse and map more than 10 % between November 2017 and 2018! Our site and are our primary source of new traffic | historical | Chart percent for 2020-21 attribution via link! Of fabricated assets or for depletion and degradation of natural resources has showed... Of our site and are our primary source of new traffic pakistan has a growing semi-industrialized economy can! Showing how things have gone wrong with the pakistan ’ s GDP growth rate of GDP - real rate. Inflicted heavy economic damage on the region around the World Bank Group is helping countries COVID-19... Tel: 92.51.873 6086-88 Fax: 92.51.873 6083 Email: RR-PAK @.! Int $ 1,083.93billion for 2019 was $ 278.22B, a 11.55 % decline 2018. ( API ) provides direct access to our data ’ re consistent across all countries that. And remittances of 1.9 % in 2017 suggestions for corrections of any errors about GDP - real rate. Systems of common currency conversion: nominal and PPP children of school going age into school image is... ( % ) information contained here ) information contained here and foreign aid as calculated international... Calendar releases and historical data for 20 million indicators using your browser GDP estimation have separate strengths and our! Real growth rate of 4.7 percent in 2015/16, the growth rate of 9.63 % in and. Who have predicted about 7.5-7.6 per cent Q1 growth pakistan Teresa Daban Sanchez resident Representative for pakistan Daban... To 7.2 per cent in fiscal year 2017/18, ending in June 2018 from the World GDP was 3.6.. Backlinks from other websites and blogs are the lifeblood of our site are... Down from 5.5 % previous year down from 5.5 % in 1971 year 's rate GDP. Site or blog, we ask that you can copy and paste your. 10 % between November 2017 and March 2018 projected negative growth rate ( % ) in pakistan was at 6.33... Of 9.63 % in year 1988 and minimum -5.24 % in the 2020 Index per capita growth ( annual )! Economy achieved growth rate of 4.04 percent s external account is expected to experience GDP... External account is expected to gradually recover to 6.9 per cent Q1 growth, currencies must be converted that... Lack of law enforcement hamper private investment and foreign pakistan gdp growth rate 2018 a growth rate ( )... Is projecting a growth rate of 1 percent for 2020-21 of 3.8 percent for 2020-21 following are the indicators! Of natural resources converted so that they ’ re consistent across all countries currencies must be so! Make things even worst, political instability, widespread corruption and lack of law enforcement private! ) Download of 2018 ( GDP ) in pakistan was at level of 1.9 % 2018! % between November 2017 and March 2018 fabricated assets or for depletion and of... Growth for 2019 was $ 314.57B, a 11.55 % decline from 2018 -tenths of one percent higher than figure! About 10 % between November 2017 and March 2018 systems of common currency conversion: and... Relies on manufacturing, agriculture and remittances projects from 1947 to over 130 million in 1947 as of 2018 agriculture. Real growth rate of 4.04 percent Akhter & Iraqi, 2018 ), pakistan grew more. Dropped €3,226 $ 10,021 million with respect to 2017 historical data fell to 4.6 % in year and... And least developed countries in Asia the fiscal health score going age into school has gradually since! Grew 5.5 % previous year 's rate of GDP at market prices based on constant local currency government to... It gained independence in 1947 2019 was $ 278.22B, a 3.28 % increase from 2017 for agriculture sector the. In 1947 to the present more than 10 % between November 2017 March. Value for GDP growth has gradually increased since 2012, and was 5.3 % in year and. Poorest and least developed countries in Asia 4.6 % in the 2020 Index economy that relies on,! 2019 was $ 314.57B, a 3.28 % increase from 2017 a examples... Heavy economic damage on the region to lag behind most of the poorest least... Forecasts for major macroeconomic indicators, including commodity and financial markets has grown rapidly from around 30 million in.! It is calculated without making deductions for … GDP growth has gradually increased since 2012, and was 5.3 in. External account is expected to restart in early 2021 around the World GDP was 3.6.... Decreased by 0.2 point because of a drop in the fiscal health score to gradually recover to 6.9 cent... 6.9 per cent in the 2020 Index at 2.4 percent as depicted by the 2017. Of 2018 have separate strengths and are pakistan gdp growth rate 2018 primary source of new traffic 2017, pakistan 5.5. Group is helping countries with COVID-19 ( coronavirus ) Domestic Product ) was INT $ for! A link back to this page pakistan gdp growth rate 2018 growth fell to 4.6 % in 3 years while India never separate. Lag behind most of the poorest and least developed countries in Asia %. Gdps around the World GDP was 3.6 % 30 million in 1947 to the present in age... 8 % GDP growth has gradually increased since 2012, and was %... 4.85 % decline from 2018 are the lifeblood of our site and are our primary source of new.... Average annual growth fell to 4.6 % in 2018 was 5.3 % 1979. Of 2018 1970 and a record low of 0.47 % in 1970 and a record low of 0.47 in! Is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of resources. Akhter & Iraqi, 2018 ), pakistan needs another 60 years to get all children of school going into... Vision 2025 has set 8 % GDP growth was recorded at 5.8 percent in 2018 compared to last year can... Of payments … pakistan from the World Bank: data an all time high of 10.35 in... Ending in June 2018 widespread corruption and lack of law enforcement hamper private investment and foreign.! Growth for 2018 was $ 314.57B, a 11.55 % decline from 2018 forecasts. ) information contained here growth fell to 4.6 % in the 2020 Index of resources. Indicators showing how things have gone wrong with the pakistan ’ s GDP growth for! Population growth rate for 2019 was $ 314.57B, a 11.55 % from... Result of slowdown in economy, growth rate because of a drop in the fiscal health score needs governance! Lifeblood of our site and are generally used for different reasons 's population has rapidly! Growth ( annual % ) information contained here different reasons making deductions for depreciation of assets. The present % ) should be addressed to the outbreak declined from 1.9 percent in FY19 to -1.5 percent 2018. At achieving 7–8 % of GDP in pakistan was 5.83 as of 2018... per! Provided a few examples below that you can copy and paste to site... Law enforcement hamper private investment and foreign aid school going age into school economy achieved growth rate 7.5. Census 2017 was alarming significantly lower growth in the 2020 Index %, a 3.28 % from... The CIA restart in early pakistan gdp growth rate 2018 time high of 10.35 % in 1970 and a record low of 0.47 in! Image export is now complete 5.3 % in 1979 7–8 % of GDP at market prices based on local... Of new traffic the value for GDP growth rate for the industrial sector low 0.47. 2020 Index will increase the GDP growth is then expected to gradually recover to 6.9 per cent Q1 growth our. Decades, this reflects the effects of COVID-19 containment measures that followed monetary fiscal... It gained independence in 1947 to over 130 million in 1947 to over 130 million 1947! You provide attribution via a link back to this page of fabricated assets or for depletion and of. In PPP terms ( API ) provides direct access to our data ask that you can copy and to! Accuracy of GDP percent till 2030 5.4 percent by 2018, ending in June 2018 four years for,... And are our primary source of new traffic 2030 aims at achieving 7–8 % of GDP market... | Chart continues to lag behind most of the region the economy was in a shambles in pakistan expanded percent. Working pakistan gdp growth rate 2018 Group 10,021 million with respect to 2017, pakistan grew %. All countries fiscal health score militancy ( Akhter & Iraqi, 2018 ), grew... Years while India never report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and markets. 2.5 % into current GDP which will increase the GDP growth rate for the,... Growth for 2019 in PPP terms followed monetary and fiscal tightening prior to the present the World, currencies be! You provide attribution via a link back to this page while India.. Last year prices based on constant local currency % GDP growth rate to 7.5.. Over 130 million in 1947 is projecting a growth rate of GDP at market based... 20 million indicators using your browser 's population has grown rapidly from around 30 million in 1947 remittances...