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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 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, 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. [36] 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%. [36]
Overall, Pakistan has maintained a fairly healthy and functional economy in the face of several wars, changing demographics, and transfers of power between civilian and military regimes, growing at an impressive rate of 6 percent per annum in the first four decades of its existence.
During the government of Pakistan Tehreek-e-Insaf (PTI) increasing double-digit inflation led to growing political issues and deteriorating economic conditions. [ 22 ] [ 23 ] During the PTI period, Pakistan's total debt and liabilities increased by 80% while during three quarters of Fiscal Year 2021-22 the trade deficit rose 70% to $35.4 ...
In late 2009, Pakistan held up many visas for U.S. diplomats, military service members and others, because of hostility inside Pakistan toward the expansion of U.S. operations in the country, [5] while many suspected Americans living in Pakistan were detained following five American terrorists linked to Al-Qaeda arrested in Sargodha. [6] [7] [8]
[15] [16] Backed by the semi-agricultural and semi-industrialized economy, Pakistan is the 47th largest (nominal GDP, 2021) and 23rd largest economic power and 6th largest military in the world, with a defence budget of US$11.4 billion (2018) [17] 4.0% of its GDP (2018). [18]
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 ]
As with the terms "Asian American" or "South Asian American," the term "Pakistani American" is an umbrella term applying to a variety of views, values, lifestyles, and appearances. Although Pakistani Americans retain a strong ethnic identity, they are known to assimilate into American culture while at the same time keeping the culture of their ...