Pakistan 2021 Year End Review: Highs, Lows and Issues
The Covid19 pandemic that started in late 2019 continued to ravage the world in 2021. Europe, India and the United States were among the m...
The Covid19 pandemic that started in late 2019 continued to ravage the world in 2021. Europe, India and the United States were among the most impacted by it. Pakistan was able to control it better than its large eastern neighbor but it, too, was hit by double digit global inflation. Pakistan's economic recovery began in earnest with higher GDP growth, record exports and remittances from the Pakistani diaspora. It was a banner year for Pakistan's technology startups with over $300 million of venture investments, about 15 times higher than the year 2020. The war in Afghanistan ended with the US troops withdrawal and the fall of Kabul to the Taliban. Many risks and uncertainties remain as Pakistan and the world enter Year 2022. Let us hope and pray that the new year brings peace and prosperity for all.
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| Happy New Year 2022 |
Here is a summary of some of the key highlights, lowlights and issues for Pakistan's year 2021:
Highlights:
1. Banner year for tech startups in Pakistan
2. Exports, remittances and Roshan Digital Accounts hit new records
3. Demographic dividend and record remittances
4. Pakistan's online workforce 3rd largest in the world
5. India variant, later named Delta variant, sparked a new wave of covid that Pakistan controlled. Over 150 million vaccine doses administered.
6. Sehat card launched in Punjab after KP, a major step toward universal healthcare
7. Economic recovery led by construction (cement, infrastructure, housing) manufacturing (cars, motorcycles, tractors) and agriculture (bumper crops)
8. Over 20 million mobile phones assembled in Pakistan
9. Textile boom, record corporate profits, new companies registrations
10. Pakistan is on track to become the world’s 7th largest consumer market
11. War in Afghanistan ended with US withdrawal and the fall of Kabul to the Taliban
12. OIC Conference on Afghanistan
13. Pakistan National Security Policy document launched
Lowlights:
1. Inflation up, Deficits up, Gas shortages
2. Going into 3rd year of pandemic with Omicron surging
3. PTI popularity down
Uncertainties and Risks:
1. Humanitarian crisis in Afghanistan
2. Impact of Omicron
3. Soaring current account deficits
Related Links:
Haq's Musings
South Asia Investor Review
Banner Year For Pakistani Tech Startups
Pakistan to Be World's 7th Largest Consumer Market By 2030
Sehat Card: Universal Healthcare in Pakistan
Textile Boom in Pakistan
Construction and Manufacturing Driving Pakistan's Recovery
Demographic Dividend and Record Remittances
Mobile Phone Manufacturing in Pakistan
Covid Crisis in India
Pakistan's COVID Handling
Riaz Haq's Youtube Channel
PakAlumni: Pakistani Social Network
Pakistan 2021 Year End Review: Highs, Lows and Issues
The Covid19 pandemic that started in late 2019 continued to ravage the world in 2021. Europe, India and the United States were among the m...
