|
| Economy
- overview: |
Pakistan is a poor, heavily
populated country, suffering from internal political
disputes, lack of foreign investment, and a costly
confrontation with neighboring India. Pakistan's
economic outlook continues to be marred by its weak
foreign exchange position, which relies on international
creditors for hard currency inflows. The MUSHARRAF
government will face an estimated $21 billion in
foreign debt coming due in 2000-03, despite having
rescheduled nearly $2 billion in debt with Paris
Club members. Foreign loans and grants provide approximately
25% of government revenue, but debt service obligations
total nearly 50% of government expenditure. Although
Pakistan successfully negotiated a $600 million
IMF Stand-By Arrangement, future loan installments
will be jeopardized if Pakistan misses critical
IMF benchmarks on revenue collection and the fiscal
deficit. MUSHARRAF has complied largely with IMF
recommendations to raise petroleum prices, widen
the tax net, privatize public sector assets, and
improve the balance of trade. However, Pakistan's
economic prospects remain uncertain; too little
has changed despite the new administration's intentions.
Foreign exchange reserves hover at roughly $1 billion,
GDP growth hinges on crop performance, the import
bill has been hammered by high oil prices, and both
foreign and domestic investors remain wary of committing
to projects in Pakistan. |
| GDP: |
purchasing power parity
- $282 billion (2000 est.) |
| GDP
- real growth rate: |
4.8% (2000 est.) |
| GDP
- per capita: |
purchasing power parity
- $2,000 (2000 est.) |
| GDP
- composition by sector: |
agriculture:
25.4%
industry: 24.9%
services: 49.7% (1999 est.) |
| Population
below poverty line: |
40% (2000 est.) |
| Household
income or consumption by percentage share: |
lowest 10%:
4.1%
highest 10%: 27.7% (1996) |
| Inflation
rate (consumer prices): |
5.2% (2000 est.) |
| Labor
force: |
40 million
note: extensive export of labor, mostly
to the Middle East, and use of child labor (2000
est.) |
| Labor
force - by occupation: |
agriculture 44%, industry
17%, services 39% (1999 est.) |
| Unemployment
rate: |
6% (FY99/00 est.) |
| Budget: |
revenues:
$8.9 billion
expenditures: $11.6 billion, including capital
expenditures of $NA (FY00/01 est.) |
| Industries: |
textiles, food processing,
beverages, construction materials, clothing, paper
products, shrimp |
| Industrial
production growth rate: |
3.8% (1999 est.) |
| Electricity
- production: |
62.078 billion kWh (1999) |
| Electricity
- production by source: |
fossil fuel:
63.38%
hydro: 36.51%
nuclear: 0.11%
other: 0% (1999) |
| Electricity
- consumption: |
57.732 billion kWh (1999) |
| Electricity
- exports: |
0 kWh (1999) |
| Electricity
- imports: |
0 kWh (1999) |
| Agriculture
- products: |
cotton, wheat, rice, sugarcane,
fruits, vegetables; milk, beef, mutton, eggs |
| Exports: |
$8.6 billion (f.o.b.,
FY99/00) |
| Exports
- commodities: |
textiles (garments, cotton
cloth, and yarn), rice, other agricultural products |
| Exports
- partners: |
US 24%, Hong Kong 7%,
UK 7%, Germany 6%, UAE 6% (FY99/00) |
| Imports: |
$9.6 billion (f.o.b.,
FY99/00) |
| Imports
- commodities: |
machinery, petroleum,
petroleum products, chemicals, transportation equipment,
edible oils, grains, pulses, flour |
| Imports
- partners: |
Saudi Arabia 8%, UAE 8%,
US 6%, Japan 6%, Malaysia 4% (FY99/00) |
| Debt
- external: |
$38 billion (2000 est.) |
| Economic
aid - recipient: |
$2 billion (FY99/00) |
| Currency: |
Pakistani rupee (PKR) |
| Exchange
rates: |
Pakistani rupees per US
dollar - 59.05 (December 2002), 59.152 (January
2001), 52.814 (2000), 49.118 (1999), 44.943 (1998),
40.918 (1997), 35.909 (1996) |
| Fiscal
year: |
1 July - 30 June |
Source: CIA World Factbook 2001
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