Size of Pakistan’s economy is $313.13 billion, says SBP

[Umair Nawaz]

No its 264 billion dollars at pkr@128. Sbp is famous for figure fudging. It convinienty took prk @110 which is erroneous and perverse. The economy has actually shrunk and contracted.

and u are?

 

[Shamsher1990]

If 207 million Pakistanis are not worried at all about this GDP kind of thing .Then why an Indian is so much worried about Pakistan !!!

May be because 220 million Pakistani are not worried is the reason you are in such a huge mess. Food for thought?

I guess folks need to understand few things :

Credit Crisis =/= Economic Collapse =/= Currency Crisis

Credit Crisis means you are having issues meeting your loan payment. You can still have a great economy with world class factories and lots of major service companies. It simply means you are --hopefully temporarily-- are facing difficulty in paying your debts. It can also happen because the prevailing sentiment in the market regarding your country is negative, in the sense that market thinks you will not be able to service your debt.

Economic Collapse simply means your economy, production and consumption of goods and services, has shrunken substantially or is about to shrink substantially. It means there is something fundamentally wrong with your economy and/or with the world economy, if you have exposure that is. It means for some reason, either you are producing in excess or the consumers --in the country or outside-- are not willing to buy what has been produced and holding the money close to their chest. Can happen because of many reason.

Currency crisis means your country's currency is being sold substantially more than it is bought. It may happen because you were buying more commodities from outside or it may happen because the commodities you are buying are now getting more expensive.

Now all three of them may be present together and even show a correlation and even causation with each other but they may or may not occur together as well.

Currently Pakistan is facing a Currency crunch and Credit crisis. The economy of Pakistan is not only well but growing decently as well owing to ongoing investment in infrastructure.

Pakistan is facing difficulty in making payments of their loans and if they have to ask IMF, it will force Pakistan to disclose its loan book and terms of loans to IMF causing downgrade of Pakistani credit worthiness.

To top it all, due to increase in oil prices, Pakistan's imports are becoming more expensive even though Pakistan's exports have increased in recent past. Also, Pakistan's forex reserves are now going out of money so it limits its ability to stabilize the currency without hurting the economy --ie limiting the imports.

Had Pakistan exporting more than importing, this exact situation had been very favorable.

If this goes on, in the long run, Pakistan will face issues even in its economy as investor or rather creditors, even the chinese ones will be hesitant to put money in the country. Pakistan may have to make concessions elsewhere.

@Nilgiri

 

[Baby Leone]

Relax, this forum is for discussion.Pakistan grown 9 billion dollar as per above article and is that also a stupid figures ! It is coming from SPB and not some random source guy.When i check bangladesh figures, comes almost 36 billion dollar and added from 2017 to 2018.They are little smaller economy than pakistan.They are 285 billion dollar as estimation in 2018 and so the gap between both economies is around 28 billion dollar.

https://en.wikipedia.org/wiki/Economy_of_Bangladesh

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

This a food for thought as reveals that Bangladesh is growing exactly 4 times than pakistan in dollar terms.This is mainly because of depreciation of your rupee against dollar.Now it stands 130 pakistani rupee to a dollar and remain record low

https://arynews.tv/en/pakistani-rupee-hits-record-low-at-rs-130/

@Starlord @Crystal-Clear @Salza



I know India is huge and growing approximately 27 times than pakistan in dollar figures.But it is also a food for thought that Bangladesh is growing 4 times than pakistan, though they are little smaller economy than yours.

@Umair Nawaz

Let's assume that Bangladesh adding another 36 billion in coming year, then one can assume that

Bangladesh economy= Pakistan economy in and around 2020

Bangladesh forex reserves is also around 4 times more than pakistan and its export figure much higher than pakistan.

@Kami leone

lol these indians are annoying why you have so much complex? when ever there is a discussion about Pakistan or Bangladesh you start comparing your shithole? cand you pls also compare the poverty rates, access to sanitation, number of illiterates like you, the way you compare every thing on macro level......let me show you the mirror ( i know you would not feel shame as this is something strange for you indians) India have more illiterates like you then the combine illiterate population of whole south asia and thats is the same for poverty, access to sanitation and others. Now if you have a little shame left in you after getting humiliated every time you would not poke your ugly indian nose in every other matter

 

[Karna_007]

lol these indians are annoying why you have so much complex? when ever there is a discussion about Pakistan or Bangladesh you start comparing your shithole? cand you pls also compare the poverty rates, access to sanitation, number of illiterates like you, the way you compare every thing on macro level......let me show you the mirror ( i know you would not feel shame as this is something strange for you indians) India have more illiterates like you then the combine illiterate population of whole south asia and thats is the same for poverty, access to sanitation and others. Now if you have a little shame left in you after getting humiliated every time you would not poke your ugly indian nose in every other matter

Lol at the end of the day,you people come up with sanitation,poverty, literacy etc and that very very common once you people failed during discussions.

Let me show you mirror if you never see the mirror..

More than 40m Pakistanis defecate openly: Unicef

https://www.dawn.com/news/1168181

Above is not from indian media and data is from UNICEF and not from any tom and harry,ok !

So what is the solution for 40 million people !

Do your govt have money to address the situation ?
Do your govt have any plan like in India to address the situation?
1 dollar=130 PKR and reserve below 10 billion with exports much less than bangladesh and a bankrupt govt.

Your country hardly can make a Dam and that's why come in a pathetic situation requesting contribution from public.How can a country go such a bottom level !

Here comes to the indian improvement in sanitation and massive fund allocated for same

Rural India will reach 100% toilet coverage by December 2018

The number of Indians who defecate in the open has dropped from an estimated 550 million in October 2014 to 200 million by early 2018.

https://www.livemint.com/Politics/F...ach-100-toilet-coverage-by-December-2018.html

So according to above only 200 million people vs 40 million from pakistan, though India is 6 times your population.So in percentage, you people are higher than in India.

In conclusion, India will have access to toilet for every one in a decade, while in pakistan 40 million still considering population growth as well.

India irradicatted polio and pakistan is only few country, still suffering from Polio.

Literacy rate

Below data shows how far pakistan lagging in literacy rate.In the top your women are hardly working or prefer to go job outside compared to India.Look at the country statistics if you have any brain left to evaluate....

https://en.wikipedia.org/wiki/Literacy_in_India

@Iqbal Ali @Umair Nawaz @undercover JIX @Kuru @Nilu Pule @Maarkhoor @DANCING GIRL

 

[MultaniGuy]

Lol at the end of the day,you people come up with sanitation,poverty, literacy etc and that very very common once you people failed during discussions.

Let me show you mirror if you never see the mirror..

More than 40m Pakistanis defecate openly: Unicef

https://www.dawn.com/news/1168181

Above is not from indian media and data is from UNICEF and not from any tom and harry,ok !

So what is the solution for 40 million people !

Do your govt have money to address the situation ?
Do your govt have any plan like in India to address the situation?
1 dollar=130 PKR and reserve below 10 billion with exports much less than bangladesh and a bankrupt govt.

Your country hardly can make a Dam and that's why come in a pathetic situation requesting contribution from public.How can a country go such a bottom level !

Here comes to the indian improvement in sanitation and massive fund allocated for same

Rural India will reach 100% toilet coverage by December 2018

The number of Indians who defecate in the open has dropped from an estimated 550 million in October 2014 to 200 million by early 2018.

https://www.livemint.com/Politics/F...ach-100-toilet-coverage-by-December-2018.html

So according to above only 200 million people vs 40 million from pakistan, though India is 6 times your population.So in percentage, you people are higher than in India.

In conclusion, India will have access to toilet for every one in a decade, while in pakistan 40 million still considering population growth as well.

India irradicatted polio and pakistan is only few country, still suffering from Polio.

Literacy rate

Below data shows how far pakistan lagging in literacy rate.In the top your women are hardly working or prefer to go job outside compared to India.Look at the country statistics if you have any brain left to evaluate....

https://en.wikipedia.org/wiki/Literacy_in_India

@Iqbal Ali @Umair Nawaz @undercover JIX @Kuru @Nilu Pule @Maarkhoor @DANCING GIRL

Haha Indian rat, India has more poverty than Pakistan in percentage.

Good you got banned Indiot.

 

[Yaseen1]

u.s companies like microsoft, apple and amazon alone are much bigger than whole of our econonmy.we sjhould develop some social media or ecommerce site or other new softwere and when it attain maximum valuation of billions of dollars sell it to payback all of debt

 

[ziaulislam]

u.s companies like microsoft, apple and amazon alone are much bigger than whole of our econonmy.we sjhould develop some social media or ecommerce site or other new softwere and when it attain maximum valuation of billions of dollars sell it to payback all of debt

Actually thus is wrong figure
As rupee dropped by 20% the figure noe stans around 270b.
Less than what it was in 2015

 

[Shahzaz ud din]

PDF HEALTH ALERT: Dear Indians carefully use your peanut size brains.Overuse can cause sever health problems.

 

[KAMDEV]

These are the "Official" figures and do not include "cash only" dealings. Cash only dealings means they have "no record". The size of the Pakistan economy, specially the black economy is much, much bigger. There were some estimations done in the past where the size of the 'Black economy' was 10 times the size of the official economy in Pakistan.

So much in black economy ?

Size of Pakistan’s economy is $313.13 billion, says SBP
By Bilal Memon
Published: July 20, 2018
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State Bank Pakistan says that the size of Pakistan's economy is $313.13 billion. PHOTO: FILE

KARACHI: The size of Pakistan’s economy stood at $313.13 billion at the end of June, 2018, according to provisional figures released on Thursday by the country’s central bank, as a weaker currency took toll on gross domestic product (GDP) in dollar terms.

Pakistan’s GDP stood at $304.97 billion at the end of June, 2017, and the economy registered a 13-year high GDP growth rate of 5.8% in FY18. That said, the size of the economy shrunk in dollar terms as the rupee weakened against the greenback in four separate rounds since December 2017, with a 5.8% growth rate effectively reduced to 2.7%.

ADB says ‘no need to panic’ over Pakistan’s economy

The State Bank of Pakistan (SBP) used a period average month-to-month exchange rate to calculate the GDP, which according to calculations came to around Rs108 to the US dollar. With the rupee having weakened further, the size of the economy is likely to have shrunk even more in dollar terms. The currency is currently hovering around the Rs128-mark as depleting foreign exchange reserves and a widening current account deficit create a headache for economic managers that are at a loss to save the country from a balance of payments crisis.

The SBP has already increased the key interest rate by 175 basis points since January, taking it to 7.5% to tackle increasing inflationary pressure in the months to come.

Additionally, the 5.8% growth registered during FY18 is also not enough for a developing economy like Pakistan to absorb the number of job seekers that pile up each year. According to experts and global financial institutions, Pakistan needs at least 7% growth to create enough jobs and tame rising unemployment. However, the country is likely to face a slowdown in growth during the ongoing fiscal year as tighter policies to improve macroeconomic stability have a negative impact.

Ratings agencies, Moody’s and Fitch, have already lowered their forecast for Pakistan’s GDP growth, while the World Bank has also suggested that it will slow down to near 5% in FY18.

According to additional figures released by the SBP, Pakistan’s current account deficit stood at $17.99 billion in FY18, translating to 5.7% of GDP and more than twice than the government’s own estimates.

Published in The Express Tribune, July 20th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.


Read more: economy , GDP , Latest

Seeing the odd conditions pak is doing good.

 

[Super Falcon]

I dont agree with numbers atleast 6 trilliin economy wr have if we control our govt stupid expenses and withgood ecnomic and financial policies

 

[El Sidd]

313 is all we need For kashmir

 

[Pakistani Aircraft]

We NEED to invest in our productivity.
All this human resource is not for show!

Invest what? Where is it going to come from?

 

[TheNoob]

Invest what? Where is it going to come from?

You think that money needs to come from the outside? No.
It doesn't take a genius to start a business and set up an official front.

We need an industry that can cater to domestic needs and if the need arises, can also export.
We need to expand our business net because currently as it is, its small and useless and mostly just for show.
It DOES not benefit this country at all.

The size of our GDP should be enough eye opening for the people of this country and the politicians.
Look where other nations stand in the same time we have existed.
and yet, we've never ever, tapped our talent pool or made any reforms to policies to cater to the upcoming needs.

All we need was introduce religious laws and boom, bitch, we're all happy. Because, Guzara hai na?

 

[BetterPakistan]

its 263 billion dollars at the current rate


"The State Bank of Pakistan (SBP) used a period average month-to-month exchange rate to calculate the GDP, which according to calculations came to around Rs108 to the US dollar. With the rupee having weakened further, the size of the economy is likely to have shrunk even more in dollar terms. "

Ufff kiddo economists,

GDP is calculated on month-to-month exchange rate not real time exchange rate. Now coming to exchange rate Pakistan exchange rate declined temporarily due to elections coming up and people bought so much dollars which made dollar value rise so much. Now dollar suddenly reduced by Rs 8 to 122 against dollar and after few months it will go back to 108 (In sha ALLAH) while last year GDP calculation come to average 109-110 against dollar so you can understand that next year GDP will be way more than $313 billion (In sha ALLAH)

 

[Syed1.]

Was watching a documentary on China-Hong Kong, in 1993 the Chinese economy was around 450 billion while Hong Kong was around 200b, now the Chinese economy is around 12 trillion and Hong Kong is only 3% of it.


If there ever was a country to follow it is our greatest friend and ally. Even if we are able to replicate one quarter of their growth in 25 years Pakistan will be an economy of 2 trillion.. which is an achievable goal if we work hard.