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The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 43rd largest in terms of nominal GDP. With a population of 254.4 million people as of 2024, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according ...
Economic aid to Pakistan was further increased by the United States through the consortium companies. [28] West Pakistan's high rate of economic growth during this time period brought wide regard to Pakistan as a model of successful implementation of capitalism in a developing country; in 1964, GDP growth was 9.38%. [28]
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] It is featured well within the list of country subdivisions with a GDP (PPP) over $200 billion. Sindh's GDP is to a large extent influenced by the economy of Karachi.
Chinese officials blamed the West for Pakistan’s economic crisis, [102] and state media continues to talk about the strengths of the China-Pakistan Economic Corridor. [103] “Only China has given a full plan. From this perspective, it is the Western world that ‘abandoned’ Pakistan, and China is the one that extended a helping hand.
A striking disconnect remains in the US economy: continued growth and softening inflation along with Americans' pervasive pessimism and uncertainty about the future. "I think people are just ...
Comparisons of national wealth are also frequently made based on purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Other metrics, nominal GDP per capita and a corresponding GDP (PPP) per capita are used for comparing national standard of living. On the whole, PPP per capita figures are less ...
At the time of partition of British India by the United Kingdom, Pakistan was a relatively under-developed country. [6] The country's systems of production, transportation, trade and consumption yielded a very low standard of living, with little opportunity for education, or economic advancement in the country. [6]
Poor wages and working conditions convinced Punjabi workers to pool their resources, lease land, and grow their own crops, thereby establishing themselves in the newly budding farming economy of northern California. [51] Many people from modern Pakistan migrated and settled in Malaysia, which was also part of the British Empire.