PakAlumni Worldwide: The Global Social Network
Pakistan Economy Nears Historic Trillion Dollar PPP GDP Mark
Pakistan's PPP GDP is nearing trillion US$ mark in 2015, according to the latest figures available from the International Monetary Fund.
Nominal GDP based on current exchange rates is reported at $270 billion in 2015, up from $246 billion in 2014, an increase of $24 Billion. Pakistan's per capita nominal GDP for 2015 is $1,427.085, up from $1,325.790 in 2014.
The nation's PPP GDP increased from $884 billion to $930 billion, an increase of $46 billion. Pakistan per capita PPP GDP is $4,902 for 2015, up from $4,749 in 2014, according to the IMF.
A dramatic decline in terrorist violence in Pakistan since the launch of Pakistan Army's Operation Zarb-e-Azb and a big drop in international oil prices have helped drive the country's economic recovery in recent months.
Among the clearest signs of recovery are increasing auto sales, growing smartphone purchases and cement consumption.
Pakistan auto industry is booming. Toyota, Suzuki and Honda factories are working around the clock in the southern port city of Karachi and eastern city of Lahore -- yet customers can still wait for up to four months for new vehicles to be delivered, according to media reports. At the same time, increased construction activity is visible everywhere in the country. First 5 months of the current fiscal year have seen sales of 93,570 cars, an increase of 66% over the same period last year.
Over 2 million 3G subscriptions and a corresponding number of smartphones are being bought every month in the country. More than half the people in Pakistan are expected to own a smartphone within the next few years.
Domestic cement sales have jumped by a phenomenal 16.89% to 4.29 million tons during July and August 2015 from 3.67 million tons shipped in the same period last year.
After its September meeting, the State Bank of Pakistan (SBP) said the rise in fixed investment financing in the energy generation and distribution, chemicals and services sectors signal possible increase in their productive activity in coming months. “The implementation of infrastructure development and energy projects under the China-Pakistan Economic Corridor (CPEC) will further enhance the improving investment environment. Therefore, there is anticipation of higher economic activity in 2015-16, which is expected to boost credit uptake,” it said.
Even as its economy recovers, it is unfortunate that Pakistan continues to lag behind its South Asian neighbors in human development. The latest 2015 human development report from the United Nations Development Program (UNDP) shows that the country's leadership is continuing to fail its people, particularly the youth, by its lack of focus and underinvestment in education and health care sectors. There can be no sustainable economic growth without investing in human development. It requires immediate attention.
Related Links:
Record Cement Sales Raise Hope Of Pakistan Economic Recovery
Credit Suisse Bullish on Pakistan Cement Industry
China-Pakistan Economic Corridor
Pakistan Army Acts Against Terrorists
Pakistan Middle Class Larger & Richer Than India's
Top Global Investor Bullish on Pakistan
The Role of Cement Industry in Economic Development of Pakistan
Riaz Haq
IMF estimates Pakistan's per capita income at Intl$ 5,402.8 (2017, estimate), putting the country's PPP GDP at more than a trillion dollars.
It has risen from 0.56% of the global GDP in 1980 to 0.81% in 2017.
https://www.gfmag.com/global-data/country-data/pakistan-gdp-country...
It's currently ranked as the 24th largest economy in the world. PwC forecasts it to rise to the 20th largest by 2030 and 16th largest by 2050, overtaking Italy, Canada and South Korea.
http://www.pwc.com/gx/en/world-2050/assets/pwc-the-world-in-2050-fu...
Mar 18, 2017
Riaz Haq
IMF estimates that Pakistan's PPP GDP crossed the trillion dollar mark in 2017.
Intl$ 1,059.9 billion (2017, estimate)
https://www.gfmag.com/global-data/country-data/pakistan-gdp-country...
May 16, 2017
Riaz Haq
Pakistan’s Real Economy Is Near $1 Trillion, Says Finance Minister Aurangzeb
https://propakistani.pk/2025/10/10/pakistans-real-economy-is-near-1...
Speaking at a business session organized for the visiting Saudi business delegation at the Overseas Investors Chamber of Commerce and Industry (OICCI) in Karachi, Aurangzeb said the Prime Minister is personally leading two key reform tracks — tax reforms and Pakistan’s digital transformation toward a cashless economy.
“Pakistan’s recorded economy stands at US$411 billion, but nearly half remains undocumented,” the minister said. “The real size of our economy is closer to a trillion dollars.”
He added that digitization and documentation would be pivotal in broadening the tax base and improving fiscal stability.
Aurangzeb reaffirmed that Pakistan’s economic growth must be driven by the private sector, with the government providing an enabling ecosystem for business and investment. He said macroeconomic stability had been restored, with all three major global rating agencies aligned for the first time in several years.
Referring briefly to the recently approved Pakistan–Saudi Arabia Security Pact, the minister said the agreement reflects growing confidence between the two countries and paves the way for deeper economic collaboration.
He also noted that Pakistan is in a constructive phase of talks with the IMF, with only a few pending matters before a likely staff-level agreement in Washington.
Aurangzeb said the government is focused on converting stabilization into growth by promoting exports, improving energy efficiency, and accelerating digital transformation. “We are now in a phase where reform, documentation, and investment must go hand in hand,” he remarked.
on Sunday