Pak-China trade limited to $12b: Size of Pakistan’s economy $600b, not $300b: Afridi

[farhan_9909]

LAHORE – Ruba SEZ Group Chief Executive Officer Shah Faisal Afridi said that the actual consumer base of Pakistan is not known to investors, who look at the official size of the country’s economy of less than $300 billion; the actual size is $600 billion.

Afridi, who is an ardent supporter of free trade and his group’s investment is China-centric, added the latter gross domestic product shows the real buying capacity of consumers and investors take this potential into account while making investment decisions.

He is serving as the president of Pak-China Joint Chamber of Commerce and Industry. “The size of Chinese economy is many times higher than Pakistan. Pakistan-China trade is limited to $12 billion, most of which are exports from China. Chinese respect and love Pakistan. They have provided us with opportunities that are denied to most of the developing world. Our group and many others are making efforts to turn the economy around with the assistance of a friendly neighbor,” he said.

Pak-China trade limited to $12b: Size of Pakistan’s economy $600b, not $300b: Afridi | Customs Today Newspaper

 

[farhan_9909]

Q. What are the bases of your trust on Pakistan’s economy?



A. The actual consumer base of Pakistan is not known to investors, who look at the official size of the country’s economy of less than $300 billion; the actual size is $600 billion. The latter gross domestic product shows the real buying capacity of consumers and investors take this potential into account while making investment decisions.

Pakistan can export thousands of products to China at zero-duty: Afridi - thenews.com.pk

 

[C130]

yet power outages and a petrol crisis
what can Pakistan do to be a major economy?

 

[flamer84]

yet power outages and a petrol crisis
what can Pakistan do to be a major economy?

Come down hard on corruption.That,in itself it's a major problem solver because it will lead to less tax evasion,more money from the state,growing investement,right people for the jobs at hand,yadda,yadda,yadda....it leads to growth.

Ofcourse,and i'm talking from personal experience here,once institutionalised corruption has infested every corner of life within a state,winning the battle against it becomes an almost impossible task.You're practically asking the system to kill itself

 

[Dr. Strangelove]

yet power outages

thats not because we cant produce electricity but the cost of it right now our production capacity is 25 GW at peak during summer we need nearly the same amount of energy but cost of producing it is causing corcular debt because of which electicity producing companies are unable to meet the need

a petrol crisis

that was because of mismanagement of GOP

the last part is simple and flamer84 has already pointed it out

 

[SrNair]

If that is the cases.PRC would have around 17 trillion $ economy and India would have around 8 trillion $economy.
Can they rechange their investment strategis in to these nations like that ?
I dont think so.
@DRAY your opinion .

 

[Donatello]

If that is the cases.PRC would have around 17 trillion $ economy and India would have around 8 trillion $economy.
Can they rechange their investment strategis in to these nations like that ?
I dont think so.
@DRAY your opinion .

300 billion is nominal GDP. PPP is already well abover 600 billion.

The 8 trillion you are quoting for India would be PPP.

 

[The enlightened]

If that is the cases.PRC would have around 17 trillion $ economy and India would have around 8 trillion $economy.
Can they rechange their investment strategis in to these nations like that ?
I dont think so.
@DRAY your opinion .

He's not talking about GDP as per PPP, but the informal/unorganized/shadow sector of the economy which is not counted in the census.

 

[kaykay]

PPP? It should be above $600 Billion dollar for Pakistan IMO. I read it somewhere in past.

 

[SrNair]

He's not talking about GDP as per PPP, but the informal/unorganized/shadow sector of the economy which is not counted in the census.

Ya I know .That is why I said similar situations can also see in our nation.Rich NRIs will register fake BPL income values in their official documents.
Same goes to several other sectors.
How can we add those data for investment policy ?

300 billion is nominal GDP. PPP is already well abover 600 billion.

The 8 trillion you are quoting for India would be PPP.

Article says otherwise

 

[Dr. Strangelove]

PPP? It should be above $600 Billion dollar for Pakistan IMO. I read it somewhere in past.

in ppp its 895 nearly 900 billion

 

[Dem!god]

idiotic analysis.... actual consumer base is not.know, what does that mean... how did he come up that figure,
no country can actually come up with 100% accurate consumer base... and in developing countries its next to impossible because of micro,small and home based industry.... moreover the local services and agriculture outputs can't be assessed in developing countries because many do not fit in the definition and formula of calculation...

so, i agree that consumers may be different but others and people of economy will only rely in government fig.. india too in it's gdp review increased the earlier industry base of 2500 to 5000 and moved on to market based price rather from output factors of production...and moreover change of base year helped to assimilate new services and goods which started it's production after 2005 and before 2011-12..

 

[BetterPakistan]

in ppp its 895 nearly 900 billion

What about Pakistan official GDP? I noticed that Pakistan GDP will be around 260$ billion after fiscal year 2014-15 ends but wikipedia is saying it as nominal 292$ billion.

Statistics
GDP 29.7 trillion pkr or $292 billion (nominal) (2014)[1]
$885 billion (2014 est.)(PPP)[2]
GDP rank 26th (PPP)
44th (nominal)
GDP growth
3.7% (2012)[3]
3.3% (2013)[4]

4.7% est.[5]
GDP per capita
$1,307 (nominal; 143rd; 2013)[6]

$4,602 (PPP; 132th; 2013)[6]
GDP by sector
agriculture: 25.3%, industry: 21.6%, services: 53.1% (2013 est.)
Inflation (CPI)
3.88% (January 2015)[7]
Population belowpoverty line
12.4% (2014)[8]


It also shows that poverty ratio has decreased because previously it was around 21%.

 

[xyxmt]

I love these self appointed economists on PDF, my PPP you GDP, is it per capita or nominal, no nominal is better

 

[farhan_9909]

The real value of Pakistan Nominal GDP will only be known after the change in base year.

in GDP PPP we will breach 1Trillion mark next year as per imf