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Pakistan
| Economy Overview |
| Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes, low levels of foreign investment, and a costly, ongoing confrontation with neighboring India. However, IMF-approved government policies, bolstered by generous foreign assistance and renewed access to global markets since 2001, have generated solid macroeconomic recovery the last three years. The government has made substantial macroeconomic reforms since 2000, although progress on more politically sensitive reforms has slowed. For example, in the third and final year of its $1.3 billion IMF Poverty Reduction and Growth Facility, Islamabad has continued to require waivers for energy sector reforms. While long-term prospects remain uncertain, given Pakistan's low level of development, medium-term prospects for job creation and poverty reduction are the best in nearly a decade. Islamabad has raised development spending from about 2% of GDP in the 1990s to 4% in 2003, a necessary step towards reversing the broad underdevelopment of its social sector. GDP growth, spurred by double-digit gains in industrial production over the past year, has become less dependent on agriculture. Foreign exchange reserves continued to reach new levels in 2004, supported by robust export growth and steady worker remittances. |
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| Economy Statistics |
| Exports: |
$15.07 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
textiles (garments, bed linen, cotton cloth, and yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 23.5%, UAE 7.4%, UK 7.3%, Germany 5%, Hong Kong 4.4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$14.01 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Saudi Arabia 11.6%, UAE 10%, US 9.7%, China 8.4%, Japan 6.5%, Kuwait 5.6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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