The real size of Pakistan's GDP

[Max]

It's not just Pakistan... It happens in allmost all the countries.. the ball is in gov side. Our gov just started to bring out these underground economy by increasing the fine and going after benami companies. Pakistan should do the same

we are not talking here about benami.. we hear about them a lot.. for example 200 billion in Swiss banks, just yesterday there was news that Pakistan lost $10 billion this year in money laundering and stand 4th in world ranking of money laundering countries.

we are talking about use of pathetic data (base year 1999) which is worse then even African standards. we should upgrade it to Chinese and bharati level atleast.

@LA se Karachi say something bro.

 

[niaz]

$20 bn is sent only though official channels. You never know how much they bring with them when visiting Pakistan or there are many unofficial channels available too.



World Bank considers it 36% more than the formal economy and studies concluded it upto 91% more in 2008.

Economists and experts claim it to be times more than the formal economy.

I would love to share an example. Few years back when Corolla was priced at 1.3 million my friend joined a bank and he was called by a fat man who wanted to lease a corolla from his bank. He took me with him because he needed transport and we reached at "haleem khokha" of that men. He told us that he got 12 "Haleem Nashta" stalls in our city and he have 0.7 million in cash with him and he wants to lease the rest of 0.6 million only for ONE YEAR and I was stunned to see that he got so much money in hand. I never thought that a haleem nashtai walai can have hundred of thousands in his hand. We got frank in conversation and I showed him my car and he asked me of maintenance costs of my car which I told him and he in return told me this is not too much as after giving salaries to employees and the preparing costs he can easily make 8-10,0000 a day working only from 7am-11am. He never used bank and this was the first time he was dealing with a bank only because he needed a car urgently.

Back in 2010-11 I went to purchase chicken from a butcher shop and I saw electricity bill there which was about 5-6000 Rs and he told me that this is his house electricity bill and is so much because of excessive use of Air Conditioner. I asked him do he uses a bank account, he replied No I never used it.

Hon Better Pakistan,

I am 100% in agreement that Pakistan has a large 'Black' economy. Last year it was published that about one third; about 60-million Pakistanis live below the poverty line.

https://www.dawn.com/news/1250694

There must be nearly as many who are not categorised ‘Poor’ but can’t afford clean water, good medicine and proper education. The point I am trying to make is that re-working the GDP and showing even double is not going to make any difference to the life of the ordinary person.

What is required is an increase in the spending on health & education. First and foremost being the provision of ‘Potable’ water to every citizen. For this the funds should come from the taxation of the people similar to the one you mentioned.

 

[sparten]

@niaz you obviously did not read said article; it says 1/3 live below the new stricter definition of poverty. By UN standards its actually about 10%, still high but down severalfold in the last decade alone.


And with due respect to you and your "friend", your speculation is baseless. The country has seen an great increase in the standards of living and improvements in just about every indicator there is. From literacy, to child mortality to life expectancy.

Yes there is a,long way to go, but our tradition of being negative nancies needs to end.

 

[Kyoto]

Well you can see from the streets that Pakistan is at about the same or slightly higher income level than India so I doubt it is seriously underestimated unless it is all concentrated in the upper class or due to the dismal tax revenue.

 

[Storm Force]

we can only go official figures

Be it WORLD BANK or Bank of England or UN or CIA

THIS IS THE CURRENT TABLE

http://www.statisticstimes.com/economy/projected-world-gdp-ranking.php

 

[Qutb-ud-din Aybak]

It's not just Pakistan... It happens in allmost all the countries.. the ball is in gov side. Our gov just started to bring out these underground economy by increasing the fine and going after benami companies. Pakistan should do the same

most of our trade isn't counted as well.

 

[niaz]

I keep on repeating that GDP and GDP per Capita are just indicators. These don’t represent the on the ground living conditions for the ordinary resident. Recently a list has been published which represents the best counties in the world to live.

According to the 2017 Best Countries Report, the top twenty overall best countries to live in are:

1. Switzerland

2. Canada

3. United Kingdom

4. Germany

5. Japan

6. Sweden

7. United States

8. Australia

9. France

10. Norway

11. Netherlands

12. Denmark

13. Finland

14. New Zealand

15. Singapore

16. Italy

17. Luxembourg

18. Austria

19. Spain

20. China

http://www.dailymail.co.uk/news/art...Germany-best-country-world.html#ixzz4ap1hzAII

No economic indicator on its own is perfect. Only Human Development Index (HDI) comes close to describing actual living environment. For example top 20 countries in the order of Inequality adjusted HDI based on 2014, 2013, and 2011 estimates are:


!. Norway
2. Netherland
3. Switzerland
4. Australia
5. Denmark
6.Germnay
7. Iceland
8.Sweden
9. Ireland
10.Finland
11. Canada
12. Solvenia
13.United Kingdom
14. Czech Republic.
15. Luxemburg
16. Belgium
17. Austria
18. France
19.Slovakia
20. Estonia

https://en.wikipedia.org/wiki/List_of_countries_by_inequality-adjusted_HDI

 

[BetterPakistan]

Hon Better Pakistan,

I am 100% in agreement that Pakistan has a large 'Black' economy. Last year it was published that about one third; about 60-million Pakistanis live below the poverty line.

https://www.dawn.com/news/1250694

There must be nearly as many who are not categorised ‘Poor’ but can’t afford clean water, good medicine and proper education. The point I am trying to make is that re-working the GDP and showing even double is not going to make any difference to the life of the ordinary person.

What is required is an increase in the spending on health & education. First and foremost being the provision of ‘Potable’ water to every citizen. For this the funds should come from the taxation of the people similar to the one you mentioned.

I wasn't objecting your comment instead I agree with you completely. I was just trying to shed some light on the black economy of Pakistan which is quite quite big and should be made formal.

 

[Khan_21]

According to the latest Credit suiss Global wealth 2016 report an average Pakistan Adult is about $800 richer than an average Indian .

https://www.credit-suisse.com/ch/en/about-us/research/research-institute/publications.html

Average wealth per adult 2016

Pakistan $ 4600
India $ 3800
Bangladesh $ 2300

 

[Storm Force]

According to the latest Credit suiss Global wealth 2016 report an average Pakistan Adult is about $800 richer than an average Indian .

https://www.credit-suisse.com/ch/en/about-us/research/research-institute/publications.html

Average wealth per adult 2016

Pakistan $ 4600
India $ 3800
Bangladesh $ 2300

TRY THIS ONE BUDDY

https://www.gfmag.com/global-data/economic-data/worlds-richest-and-poorest-countries

average indian has $1000 dollars per person more

BUT dstill very low ranked at 126th globally
PAKIDSTAN SITS towards bottpom at $5200 per annum

 

[Khan_21]

TRY THIS ONE BUDDY

https://www.gfmag.com/global-data/economic-data/worlds-richest-and-poorest-countries

average indian has $1000 dollars per person more

BUT dstill very low ranked at 126th globally
PAKIDSTAN SITS towards bottpom at $5200 per annum

You absolutely have no idea about the difference between GDP per capita and wealth do you?

 

[Storm Force]

You absolutely have no idea about the difference between GDP per capita and wealth do you

my understanding of wealth is this

200 million Pakistanis enjoy a total GDP of $300 billion = This equals per capita income of $1500 per Pakistani

1,25 billion Indians enjoy a GDP of $2.5 trillion = This equals per capita income $2000 per indian.

SO IN MY ECONOMICS CLASS that means the indian ciizen has a 25% higher per capita income

NO you can explain YOURS I'm all EARS

 

[YeBeWarned]

tu us mai se mere Hissay mai kitna aye ga ?

 

[EndangeredSpecies]

According to the latest Credit suiss Global wealth 2016 report an average Pakistan Adult is about $800 richer than an average Indian .

https://www.credit-suisse.com/ch/en/about-us/research/research-institute/publications.html

Average wealth per adult 2016

Pakistan $ 4600
India $ 3800
Bangladesh $ 2300

Janaab data quality ko bhi dekh lein in that report. Consult data quality, it comes as 'Poor' for Pakistan. Comparison to Indian/Cheeni wealth is not going to yield any useful inference. BTW, Indian and Cheeni data quality is reported as 'Fair'. So the difference may be +800, - 800 or anything, it is hard to know.

 

[Stephen Cohen]

Janaab data quality ko bhi dekh lein in that report. Consult data quality, it comes as 'Poor' for Pakistan. Comparison to Indian/Cheeni wealth is not going to yield any useful inference. BTW, Indian and Cheeni data quality is reported as 'Fair'. So the difference may be +800, - 800 or anything, it is hard to know.

If a country's real economic strength has to be measured
it is in its Composition of exports ; Industrial Production
And its balance of external account