World Bank: Pakistan Economy is World's 23rd Largest

[farhan_9909]

Sir i do think the 790+ figure is a bit overstated. We need to wait for a more detailed economic survey. How can the PPP value be so high and nominal be so low?

Sir the World bank estimate is revealed only last week.I hope you do know that World bank does know how to calculate the GDP much better than any agency in Pakistan.

Well a decade earlier indian GDP PPP was 4 times higher than Nominal,Even today the difference is more than 3times.

In countries like CHina,India,Pakistan and bangladesh,the GDP PPP growth is usually high because of more population

What counts is GDP/capita growth and currently BD is growing at 5% a year in this variable.

For Pakistan to match this, then its GDP needs to grow at 7% a year since population growth rate is nearly 2% a year.

The gap between BD and Pakistan is closing as we speak.

Ground realities are different.

Pakistan also has achieved 4.1% growth rate this year with a target of 5.5% next year.even with less growth rate.Pakistan GDP in real term has grown far more than Bangladesh.

Our Population growth rate as per all the credible agencies has fallen to 1.5%,which is similar to Bangladesh.

The Gap between Pak and Bangladesh indeed is closing but very steady.

 

[acid rain]

A question: How detrimental is it to artificially hold rates low? PPP is based on the price of 800 commodities and the money available to buy them - though overall it means that one can buy more of the stuff with less money, but that also conversely means less money in the system.

PKR is hovering around the 100 mark, while Pakistan is touted to be the second cheapest country in the world, the price index is also pretty low compared to other countries.

Something doesnt add up here.

This is a genuine query.

Lets compare Pak with US.

US's PPP is lesser than its GDP.
Pak's PPP is 4 times its GDP.

So technically the price of the 800 commodities is 4 times cheaper in Pak compared to the US.

But then 1USD is equal 100PKR. So technically an American has to spend around 400(4 USD) PKR worth of dollars to buy something that is worth 1PKR in Pakistan.

How can the prices be so low? literally 400 times..

 

[halka_kutta]

World Bank has updated website.

Pakistan PPP GDP as of 2012 is $835 billion.

@farhan_9909

Also in today news.

"The per capita Gross National Product (GNP) is at Rs160,443"

Which is around $1620 per capita and around $300 billion GDP nominal.

 

[ShahidT]

not good enough. we should be aiming to be at least top 15 by next few decades. some projections show its possible but only with stable, sustainable economic environment to stimulate growth. too much time has been lost in past 10 years and even since independence. genuine reforms to attract FDI are long overdue, and no signs of 'leadership' waking up unfortunately.

 

[Hyde]

World Bank has updated website.

Pakistan PPP GDP as of 2012 is $835 billion.

@farhan_9909

Also in today news.

"The per capita Gross National Product (GNP) is at Rs160,443"

Which is around $1620 per capita and around $300 billion GDP nominal.

Where did you get these figures from?

It's showing the same old figures of few weeks ago - GDP, PPP (current international $) | Data | Table

That is around 795 billion dollars (GDP PPP)

Also where did you get the figure of per capita

 

[farhan_9909]

Where did you get these figures from?

It's showing the same old figures of few weeks ago - GDP, PPP (current international $) | Data | Table

That is around 795 billion dollars (GDP PPP)

Also where did you get the figure of per capita

About Per capita,this is the link

APCC recommends 5.1% growth target – The Unity Time

Not sure about the +800Billion dollars mark for GDP PPP

 

[halka_kutta]

About Per capita,this is the link


Not sure about the +800Billion dollars mark for GDP PPP

I can't post links, i googled world bank ppp. It says $784 bn for 2011 and $835bn for 2012.

 

[farhan_9909]

I can't post links, i googled world bank ppp. It says $784 bn for 2011 and $835bn for 2012.

got the link

GNI, PPP (current international $) | Data | Table

 

[halka_kutta]

got the link

Yep, since growth was higher for 2013. Lets see around $900 bn for 2013 and between $975-1000bn for 2014.