What's new

Pakistan's GDP at $380 Billion , Per Capita at $1800. Registers 6% growth for 2021-22

AZ1

ELITE MEMBER
Jul 25, 2017
8,831
-2
9,315
Country
Pakistan
Location
Pakistan
FTG2yQSX0AIZey0.jpeg
 

Flash_Ninja

SENIOR MEMBER
May 16, 2013
3,778
0
4,739
Country
Pakistan
Location
United Kingdom
If IK had two terms of continous rule, Pakistan would have hit $500 billion at 6% at the end of his tenure. If the rate went up to 7% or 8% then at the end of 10 years it would have hit $650 billion

Just imagine, pakistans GDP per capita would be approaching $3000 and millions would have been lifted out of poverty with many millions more moved into the middle class.
 

faani83

FULL MEMBER
Aug 11, 2019
146
-2
246
Country
Canada
Location
Canada

Pakistan exceeds expectations as growth rate nears 6pc


ISLAMABAD: The growth rate forecast of Pakistan’s economy increased significantly during 2021-22, making it the second-highest economic growth recorded over the past four years suggesting recovery of the economy from the Covid-19 pandemic.

The projection that Pakistan’s economy will grow at a rate of 5.97 per cent in 2021-22 is much higher than the projections of 4pc and 4.3pc by the International Monetary Fund and the World Bank, respectively, for the same year.

This projection came as a surprise when it was feared the fuel subsidies will ditch the growth forecast. The growth was mainly contributed by the industrial sector, followed by services and agriculture sectors. In the agriculture sector, a robust growth was seen in four major crops — cotton, rice, sugarcane and maize — while a dip was noted in wheat production.

The 105th meeting of the National Accounts Committee, chaired by Planning Secretary Dawood Muhmmad Bareach, approved the figures of gross domestic product (GDP) for the fiscal year 2021-22 and revised figure for 2020-21.

Forecast much higher than IMF, World Bank projections
An upward trend in the growth was also seen in the revised figures for the year 2020-21, when it was estimated at 5.74pc, which was provisionally projected at 5.57pc.

The size of the economy rose to $380 billion in 2021-22 from the revised figure of $346.76bn the previous year. The size of the economy grew in dollar terms as the rupee strengthened against the greenback — the highest-ever increase in any year.

Per capita income has also been calculated at Rs314,353, up from Rs268,223 for 2020-21. The per capita income in dollar terms has jumped to $1,798 from previous year’s projections of $1,676.

The revised GDP growth rate for the year 2020-21 is 5.74pc, which was provisionally estimated at 5.57pc. The crops sub-sector has improved from 5.92pc to 5.96pc. Other crops have improved from provisional growth of 8.08pc to 8.27pc in revised estimates. The industrial sector’s growth in the revised estimates is 7.81pc, which was 7.79pc in the provisional estimates, while the services sector’s growth has improved from 5.7pc to 6pc.

The provisional GDP growth rate for the year 2021-22 is estimated at 5.97pc. This is the outcome of a broad-based growth witnessed in all sectors of the economy. The growth in agricultural, industrial and services sectors is 4.40pc, 7.19pc and 6.19pc, respectively. The growth in the agriculture sector was achieved despite a fall in wheat production.

The growth in important crops during this year is 7.24pc against last year’s 5.83pc. The growth in production of important crops — cotton, rice, sugarcane and maize — are estimated at 17.9pc, 10.7pc, 9.4pc and 19pc, respectively.

Cotton crop production increased from last year’s 7.1 million bales to 8.3m bales; rice output from 8.4m tonnes to 9.3m tonnes; sugarcane production from 81m tonnes to 88.7m tonnes; and maize production rose from 8.4m tonnes to 10.6m tonnes.

Wheat production decreased from 27.5m tonnes in 2020-21 to 26.4m tonnes in 2021-22. Other crops showed growth of 5.44pc, mainly because of an increase in production of pulses, vegetables, fodder, oilseeds and fruits.

The livestock sector is showing a growth of 3.26pc this year against 2.38pc last year, forestry grows 6.13pc against a negative growth of 0.45pc last year and fishing stands at 0.35pc this year against 0.73pc last year.

The overall industrial sector shows an increase of 7.19pc in 2021-22, while it recorded a growth of 7.81pc in 2020-21. The mining and quarrying sector has declined by 4.47pc due to a fall in production of other minerals.

The large-scale manufacturing industry is driven primarily by QIM data (from July 2021 to March 2022) which shows an increase of 10.48pc. Major contributors to this growth are food (11.67pc), tobacco (16.7pc), textile (3.19pc), wearing apparel (33.95pc), wood products (157.5pc), chemicals (7.79pc), iron & steel products (16.55pc), automobiles (54.10pc), furniture (301.83pc) and other manufacturing (37.83pc).

The electricity, gas and water industry shows a growth of 7.86pc, mainly due to an increase in subsidies in 2021-22. Value added in the construction industry, mainly driven by construction-related expenditures by industries, has registered a modest growth of 3.14pc in 2021-22 against 2.48pc the previous year, mainly due to an increase in general government spending.

The services sector shows a growth of 6.19pc in 2021-22 against 6pc in 2020-21. The wholesale and retail trade industry grew by 10.04pc. It is dependent on the output of agriculture, manufacturing and imports. The growth in trade value added relating to agriculture, manufacturing and imports stands at 3.99pc, 9.82pc and 19.93pc, respectively.

The transportation and storage industry has increased by 5.42pc due to increase in gross value addition of railways (41.85pc), air transport (26.56pc), road transport (4.99pc) and storage. Accommodation and food services activities have increased by 4.07pc. Similarly, information and communication increased by 11.9pc due to improvement in telecommunication, computer programming, consultancy and related activities.

The finance and insurance industry shows an overall increase of 4.93pc, mainly due to an increase in deposits and loans. Real estate activities grew by 3.7pc, while public administration and social security (general government) activities posted a negative growth of 1.23pc due to high deflator. Education has witnessed a growth of 8.65pc due to public sector expenditure. Human health and social work activities increased by 2.25pc due to general government expenditures. The provisional growth in other private services is 3.76pc.

Published in Dawn, May 19th, 2022

-Present government acknowledging past government performance!
-Just Balance of Payment and Dollar Crisis
 

ghazi52

PDF THINK TANK: ANALYST
Mar 21, 2007
80,026
82
132,066
Country
Pakistan
Location
United States
.,.,

Pakistan exceeds expectations as growth rate nears 6pc

Mubarak Zeb Khan
May 19, 2022


ISLAMABAD: The growth rate forecast of Pakistan’s economy increased significantly during 2021-22, making it the second-highest economic growth recorded over the past four years suggesting recovery of the economy from the Covid-19 pandemic.

The projection that Pakistan’s economy will grow at a rate of 5.97 per cent in 2021-22 is much higher than the projections of 4pc and 4.3pc by the International Monetary Fund and the World Bank, respectively, for the same year.

This projection came as a surprise when it was feared the fuel subsidies will ditch the growth forecast. The growth was mainly contributed by the industrial sector, followed by services and agriculture sectors. In the agriculture sector, a robust growth was seen in four major crops — cotton, rice, sugarcane and maize — while a dip was noted in wheat production.

The 105th meeting of the National Accounts Committee, chaired by Planning Secretary Dawood Muhmmad Bareach, approved the figures of gross domestic product (GDP) for the fiscal year 2021-22 and revised figure for 2020-21.

Forecast much higher than IMF, World Bank projections

An upward trend in the growth was also seen in the revised figures for the year 2020-21, when it was estimated at 5.74pc, which was provisionally projected at 5.57pc.

The size of the economy rose to $380 billion in 2021-22 from the revised figure of $346.76bn the previous year.

The size of the economy grew in dollar terms as the rupee strengthened against the greenback — the highest-ever increase in any year.
Per capita income has also been calculated at Rs314,353, up from Rs268,223 for 2020-21.

The per capita income in dollar terms has jumped to $1,798 from previous year’s projections of $1,676.

The revised GDP growth rate for the year 2020-21 is 5.74pc, which was provisionally estimated at 5.57pc. The crops sub-sector has improved from 5.92pc to 5.96pc. Other crops have improved from provisional growth of 8.08pc to 8.27pc in revised estimates. The industrial sector’s growth in the revised estimates is 7.81pc, which was 7.79pc in the provisional estimates, while the services sector’s growth has improved from 5.7pc to 6pc.

The provisional GDP growth rate for the year 2021-22 is estimated at 5.97pc. This is the outcome of a broad-based growth witnessed in all sectors of the economy. The growth in agricultural, industrial and services sectors is 4.40pc, 7.19pc and 6.19pc, respectively. The growth in the agriculture sector was achieved despite a fall in wheat production.
The growth in important crops during this year is 7.24pc against last year’s 5.83pc. The growth in production of important crops — cotton, rice, sugarcane and maize — are estimated at 17.9pc, 10.7pc, 9.4pc and 19pc, respectively.

Cotton crop production increased from last year’s 7.1 million bales to 8.3m bales; rice output from 8.4m tonnes to 9.3m tonnes; sugarcane production from 81m tonnes to 88.7m tonnes; and maize production rose from 8.4m tonnes to 10.6m tonnes.

Wheat production decreased from 27.5m tonnes in 2020-21 to 26.4m tonnes in 2021-22. Other crops showed growth of 5.44pc, mainly because of an increase in production of pulses, vegetables, fodder, oilseeds and fruits.

The livestock sector is showing a growth of 3.26pc this year against 2.38pc last year, forestry grows 6.13pc against a negative growth of 0.45pc last year and fishing stands at 0.35pc this year against 0.73pc last year.

The overall industrial sector shows an increase of 7.19pc in 2021-22, while it recorded a growth of 7.81pc in 2020-21. The mining and quarrying sector has declined by 4.47pc due to a fall in production of other minerals.

The large-scale manufacturing industry is driven primarily by QIM data (from July 2021 to March 2022) which shows an increase of 10.48pc.

Major contributors to this growth are food (11.67pc), tobacco (16.7pc), textile (3.19pc), wearing apparel (33.95pc), wood products (157.5pc), chemicals (7.79pc), iron & steel products (16.55pc), automobiles (54.10pc), furniture (301.83pc) and other manufacturing (37.83pc).

The electricity, gas and water industry shows a growth of 7.86pc, mainly due to an increase in subsidies in 2021-22.

Value added in the construction industry, mainly driven by construction-related expenditures by industries, has registered a modest growth of 3.14pc in 2021-22 against 2.48pc the previous year, mainly due to an increase in general government spending.

The services sector shows a growth of 6.19pc in 2021-22 against 6pc in 2020-21. The wholesale and retail trade industry grew by 10.04pc. It is dependent on the output of agriculture, manufacturing and imports.

The growth in trade value added relating to agriculture, manufacturing and imports stands at 3.99pc, 9.82pc and 19.93pc, respectively.

The transportation and storage industry has increased by 5.42pc due to increase in gross value addition of railways (41.85pc), air transport (26.56pc), road transport (4.99pc) and storage. Accommodation and food services activities have increased by 4.07pc. Similarly, information and communication increased by 11.9pc due to improvement in telecommunication, computer programming, consultancy and related activities.

The finance and insurance industry shows an overall increase of 4.93pc, mainly due to an increase in deposits and loans.

Real estate activities grew by 3.7pc, while public administration and social security (general government) activities posted a negative growth of 1.23pc due to high deflator.
Education has witnessed a growth of 8.65pc due to public sector expenditure.

Human health and social work activities increased by 2.25pc due to general government expenditures.
The provisional growth in other private services is 3.76pc.

Published in Dawn, May 19th, 2022
 

N.Siddiqui

SENIOR MEMBER
Nov 21, 2015
7,813
8
14,319
Country
Pakistan
Location
Pakistan
The fourth and fifth year of PTI government would have broken and surpassed all previous records regarding GDP growth, in the history of Pakistan.

But even now, a PTI government in say next 4 months with a 2/3rd majority is the real deal, will go full throttle with reforms and changes which cannot be done earlier.
 
Last edited:

koolio

SENIOR MEMBER
Sep 5, 2006
4,083
0
5,258
Country
Pakistan
Location
United Kingdom
This is ample proof PTI did excellent job under harsh circumstances, now sadly all the gains are going down at breath taking speed, PDM is not fit to govern Pakistan anymore.
 

Wood

SENIOR MEMBER
Mar 30, 2013
3,940
-10
3,165
Country
India
Location
Canada
What is Pakistan's CAD this year? In the (pre covid) past, it has been the case that whenever Pakistan's economy grows above average - the CAD will worsen and result in a BOP crisis. So curious about how the CAD looks for this year :unsure:
 

PAKISTANFOREVER

ELITE MEMBER
Aug 15, 2015
16,815
-7
27,478
Country
United Kingdom
Location
Pakistan

Pakistan exceeds expectations as growth rate nears 6pc

Mubarak Zeb Khan Published May 19, 2022 - Updated about an hour ago




0
ISLAMABAD: The growth rate forecast of Pakistan’s economy increased significantly during 2021-22, making it the second-highest economic growth recorded over the past four years suggesting recovery of the economy from the Covid-19 pandemic.

The projection that Pakistan’s economy will grow at a rate of 5.97 per cent in 2021-22 is much higher than the projections of 4pc and 4.3pc by the International Monetary Fund and the World Bank, respectively, for the same year.

This projection came as a surprise when it was feared the fuel subsidies will ditch the growth forecast. The growth was mainly contributed by the industrial sector, followed by services and agriculture sectors. In the agriculture sector, a robust growth was seen in four major crops — cotton, rice, sugarcane and maize — while a dip was noted in wheat production.
The 105th meeting of the National Accounts Committee, chaired by Planning Secretary Dawood Muhmmad Bareach, approved the figures of gross domestic product (GDP) for the fiscal year 2021-22 and revised figure for 2020-21.


An upward trend in the growth was also seen in the revised figures for the year 2020-21, when it was estimated at 5.74pc, which was provisionally projected at 5.57pc.

The size of the economy rose to $380 billion in 2021-22 from the revised figure of $346.76bn the previous year. The size of the economy grew in dollar terms as the rupee strengthened against the greenback — the highest-ever increase in any year.
Per capita income has also been calculated at Rs314,353, up from Rs268,223 for 2020-21. The per capita income in dollar terms has jumped to $1,798 from previous year’s projections of $1,676.


The revised GDP growth rate for the year 2020-21 is 5.74pc, which was provisionally estimated at 5.57pc. The crops sub-sector has improved from 5.92pc to 5.96pc. Other crops have improved from provisional growth of 8.08pc to 8.27pc in revised estimates. The industrial sector’s growth in the revised estimates is 7.81pc, which was 7.79pc in the provisional estimates, while the services sector’s growth has improved from 5.7pc to 6pc.

The provisional GDP growth rate for the year 2021-22 is estimated at 5.97pc. This is the outcome of a broad-based growth witnessed in all sectors of the economy. The growth in agricultural, industrial and services sectors is 4.40pc, 7.19pc and 6.19pc, respectively. The growth in the agriculture sector was achieved despite a fall in wheat production.
The growth in important crops during this year is 7.24pc against last year’s 5.83pc. The growth in production of important crops — cotton, rice, sugarcane and maize — are estimated at 17.9pc, 10.7pc, 9.4pc and 19pc, respectively.

Cotton crop production increased from last year’s 7.1 million bales to 8.3m bales; rice output from 8.4m tonnes to 9.3m tonnes; sugarcane production from 81m tonnes to 88.7m tonnes; and maize production rose from 8.4m tonnes to 10.6m tonnes. Wheat production decreased from 27.5m tonnes in 2020-21 to 26.4m tonnes in 2021-22. Other crops showed growth of 5.44pc, mainly because of an increase in production of pulses, vegetables, fodder, oilseeds and fruits.
The livestock sector is showing a growth of 3.26pc this year against 2.38pc last year, forestry grows 6.13pc against a negative growth of 0.45pc last year and fishing stands at 0.35pc this year against 0.73pc last year.

The overall industrial sector shows an increase of 7.19pc in 2021-22, while it recorded a growth of 7.81pc in 2020-21. The mining and quarrying sector has declined by 4.47pc due to a fall in production of other minerals.
The large-scale manufacturing industry is driven primarily by QIM data (from July 2021 to March 2022) which shows an increase of 10.48pc. Major contributors to this growth are food (11.67pc), tobacco (16.7pc), textile (3.19pc), wearing apparel (33.95pc), wood products (157.5pc), chemicals (7.79pc), iron & steel products (16.55pc), automobiles (54.10pc), furniture (301.83pc) and other manufacturing (37.83pc).

The electricity, gas and water industry shows a growth of 7.86pc, mainly due to an increase in subsidies in 2021-22. Value added in the construction industry, mainly driven by construction-related expenditures by industries, has registered a modest growth of 3.14pc in 2021-22 against 2.48pc the previous year, mainly due to an increase in general government spending.
The services sector shows a growth of 6.19pc in 2021-22 against 6pc in 2020-21. The wholesale and retail trade industry grew by 10.04pc. It is dependent on the output of agriculture, manufacturing and imports. The growth in trade value added relating to agriculture, manufacturing and imports stands at 3.99pc, 9.82pc and 19.93pc, respectively.

The transportation and storage industry has increased by 5.42pc due to increase in gross value addition of railways (41.85pc), air transport (26.56pc), road transport (4.99pc) and storage. Accommodation and food services activities have increased by 4.07pc. Similarly, information and communication increased by 11.9pc due to improvement in telecommunication, computer programming, consultancy and related activities.

The finance and insurance industry shows an overall increase of 4.93pc, mainly due to an increase in deposits and loans. Real estate activities grew by 3.7pc, while public administration and social security (general government) activities posted a negative growth of 1.23pc due to high deflator. Education has witnessed a growth of 8.65pc due to public sector expenditure. Human health and social work activities increased by 2.25pc due to general government expenditures. The provisional growth in other private services is 3.76pc.
Published in Dawn, May 19th, 2022


Pakistan SERIOUSLY needs to bring back PTI by ANY means necessary.
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom