Economy of Pakistan

Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes and low levels of foreign investment. Between 2001-07, however, poverty levels decreased by 10%, as Islamabad steadily raised development spending. Between 2004-07, GDP growth in the 5-8% range was spurred by gains in the industrial and service sectors - despite severe electricity shortfalls - but growth slowed in 2008-09 and unemployment rose. Inflation remains the top concern among the public, jumping from 7.7% in 2007 to 20.8% in 2008, and 14.2% in 2009. In addition, the Pakistani rupee has depreciated since 2007 as a result of political and economic instability. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis, but during 2009 its current account strengthened and foreign exchange reserves stabilized - largely because of lower oil prices and record remittances from workers abroad. Textiles account for most of Pakistan's export earnings, but Pakistan's failure to expand a viable export base for other manufactures have left the country vulnerable to shifts in world demand. Other long term challenges include expanding investment in education, healthcare, and electricity production, and reducing dependence on foreign donors.
GDP (purchasing power parity):	GDP (purchasing power parity): $448.1 billion (2009 est.) $436.4 billion (2008 est.) $422 billion (2007 est.) note: data are in 2009 US dollars
GDP (official exchange rate):	GDP (official exchange rate): $166.5 billion (2009 est.)
GDP - real growth rate:	2.7% (2009 est.) 3.4% (2008 est.) 6% (2007 est.)
GDP - per capita (PPP):	GDP - per capita (PPP): $2,600 (2009 est.) $2,500 (2008 est.) $2,500 (2007 est.) note: data are in 2009 US dollars
GDP - composition by sector:	agriculture: 20.8% industry: 24.3% services: 54.9% (2009 est.)
Labor force:	55.88 million note: extensive export of labor, mostly to the Middle East, and use of child labor (2009 est.)
Labor force - by occupation:	agriculture: 43% industry: 20.3% services: 36.6% (2005 est.)
Unemployment rate:	15.2% (2009 est.) 13.6% (2008 est.) note: substantial underemployment exists
Population below poverty line:	24% (FY05/06 est.)
Household income or consumption by percentage share:	lowest 10%: 3.9% highest 10%: 26.5% (2005)
Distribution of family income - Gini index:	30.6 (FY07/08) 41 (FY98/99)
Inflation rate (consumer prices):	Inflation rate (consumer prices): 14.2% (2009 est.) 20.3% (2008 est.)
Investment (gross fixed):	Investment (gross fixed): 18.1% of GDP (2009 est.)
Budget:	revenues: $23.21 billion expenditures: $30.05 billion (2009 est.)
Public debt:	45.3% of GDP (2009 est.) 51.2% of GDP (2008 est.)
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:	-3.6% (2009 est.)
Electricity - production:	90.8 billion kWh (2007 est.)
Electricity - consumption:	72.2 billion kWh (2007 est.)
Electricity - exports:	0 kWh (2008 est.)
Electricity - imports:	0 kWh (2008 est.)
Oil - production:	61,870 bbl/day (2008 est.)
Oil - consumption:	383,000 bbl/day (2008 est.)
Oil - exports:	30,090 bbl/day (2007 est.)
Oil - imports:	319,500 bbl/day (2007 est.)
Oil - proved reserves:	339 million bbl (1 January 2009 est.)
Natural gas - production:	37.5 billion cu m (2008 est.)
Natural gas - consumption:	37.5 billion cu m (2008 est.)
Natural gas - exports:	0 cu m (2008 est.)
Natural gas - imports:	0 cu m (2008 est.)
Natural gas - proved reserves:	885.3 billion cu m (1 January 2009 est.)
Current account balance:	$-2.42 billion (2009 est.) $-15.68 billion (2008 est.)
Exports:	$17.87 billion (2009 est.) $21.09 billion (2008 est.)
Exports - commodities:	textiles (garments, bed linen, cotton cloth, yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs
Exports - partners:	US 16%, UAE 11.7%, Afghanistan 8.6%, UK 4.5%, China 4.2% (2008)
Imports:	$28.31 billion (2009 est.) $38.19 billion (2008 est.)
Imports - commodities:	petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea
Imports - partners:	China 14.1%, Saudi Arabia 12%, UAE 11.2%, Kuwait 5.4%, India 4.8%, US 4.7%, Malaysia 4.1% (2008)
Reserves of foreign exchange and gold:	$15.68 billion (31 December 2009 est.) $8.903 billion (31 December 2008 est.)
Debt - external:	$52.12 billion (31 December 2009 est.) $46.39 billion (31 December 2008 est.)
Stock of direct foreign investment - at home:	$27.95 billion (31 December 2009 est.) $25.44 billion (31 December 2008 est.)
Stock of direct foreign investment - abroad:	$1.078 billion (31 December 2009 est.) $1.017 billion (31 December 2008 est.)
Market value of publicly traded shares:	$23.49 billion (31 December 2008) $70.26 billion (31 December 2007) $45.52 billion (31 December 2006)
Exchange rates:	Pakistani rupees (PKR) per US dollar - 81.41 (2009), 70.64 (2008), 60.6295 (2007), 60.35 (2006), 59.515 (2005)