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Despite these adversities, economic growth in 2009–2010 reached a respectable 4.1%, with positive contributions from various sectors, including a 2% growth in agriculture, 4.9% growth in industrial output, 4.4% growth in large-scale manufacturing, and a 4.6% expansion in the services sector.
Punjab has the largest economy in Pakistan, contributing most to the national GDP. The province's share was 60.58% in 2020 to national economy. [ 2 ] Sindh which is the second largest province in terms of population and GDP which has steadily continued to grow, contributes 23.7% to the national economy. [ 2 ]
The corporate sector remained to expand in Prime minister Benazir Bhutto's government who promoted the nationalization and privatization at once. In 2004, in a programme initiated by Prime minister Shaukat Aziz, the corporate sector further enhanced and matured; it had built a strong and sizeable sector in the financial hubs of the country.
It confirmed Karachi’s status as Pakistan’s largest economy, well ahead of the next two biggest cities Lahore and Faisalabad, which had a reported GDP (PPP) in 2008 of $40 billion and $20.5 billion, respectively. [14] Karachi's high GDP is based on its large industrial base, with a high dependency also on the financial services sector.
Rs. 433.43 billion (US$1.5 billion) Karachi: Banking [2] 7: Colgate-Palmolive Pakistan: Rs. 364.96 billion (US$1.3 billion) Karachi: Fast-moving consumer goods [2] 8: Pakistan Tobacco Company: Rs. 340.26 billion (US$1.2 billion) Islamabad: Tobacco [2] 9: Nestlé Pakistan: Rs. 337.85 billion (US$1.2 billion) Lahore: Fast-moving consumer goods [2 ...
According to the Economic complexity index, Pakistan is the 67th largest export economy in the world and the 106th most complex economy. [10] During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion. [11]
After independence, the State Bank of Pakistan was established as the central bank of the country, with its headquarters in Karachi. Prior to independence, the Reserve Bank of India acted as the central bank for what became Pakistan. Under pressure from the International Monetary Fund, Pakistan implemented economic reforms in the late 1990s. [1]
The Pakistan Economic Survey is an annual report on the performance of the economy, focusing in particular on major macroeconomic indicators. Finance Minister Shaukat Tarin briefed on 10 June 2021, the Pakistan Economic Survey 2020-21 at a press conference in Islamabad on Thursday, revealing that the industrial and services sectors had helped the economy rebound and post GDP growth of 3.94 per ...