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Economy of Pakistan

Pakistan or Islamic Republic of Pakistan is an independent country located in South Asian region. With the estimated GDP (purchasing power parity) of $574.1 billion as per the statistics of 2013, Pakistan's economy is 27th largest in the world and ranked 44 according to GDP. An inordinate length of time of uneven political conditions and military clashes has always blocked the ways of foreign investment in the country. In spite of that, the efficiency and output in agriculture sector has always been there to keep this country on its feet. It is not just about the agriculture actually, textile is another sector which is nothing less than a backbone of country. Over the course of last few years, the lesser amount of growth and high inflation has amplified the rate of poverty in Pakistan. Even though the economy has steadied after a long crisis, foreign investment has not resumed because of the worries shown by investors related to bad governance and unrest. If Pakistan wants to stay away from hassles like these, then it must address enduring issues connected to government incomes and energy to better the economic affairs. Islamabad is the capital of Pakistan, whereas Karachi is the largest city of country, which is also known as the city of lights. Some of the notable industries of Pakistan comprise agriculture, livestock, cash crop, surgical instruments, sports goods, leather goods, cutlery, construction materials, pharmaceuticals and textiles. The fiscal year of Pakistan starts at 1st July and ends up on 30th June.

Imports of Pakistan

Pakistan imports substantial amount of petroleum, chemicals, auto parts, vehicles, edible oil, plastic materials, iron ore & steel and pharmaceutical products to cater the varying internal needs. The countries like USA, Japan, Kuwait, Saudi Arabia, Germany, China, UK and Malaysia are emerging as main import partners of Pakistan. It is estimated that the imports of Pakistan were $39.27 billion in the year 2013.

Exports of Pakistan

Being a gifted country in terms of having natural resources, Pakistan exports some decent stuff to other countries. The major exports of Pakistan comprise textiles, rice, leather goods, surgical instruments, cutlery, fruits, vegetables, chemicals, carpets, rugs and sports goods. The main export partners of Pakistan are United States, China, UAE and Afghanistan. As per 2011 statistics, the exports volume of Pakistan was $25.35 billion.

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Capital
Islamabad
Dialing Code
+92
Fiscal Year
1 July - 30 June
Currency
Pakistani Rupee (PKR)
GDP
$427,300,000,000
Exports
$25.35 billion (2011 est.) | Textiles (garments, Bed Linen, Cotton Cloth, Yarn), Rice, Leather Goods, Sports Goods, Chemicals, Manufactures, Carpets And Rugs
Imports
$35.82 billion (2011 est.) | Petroleum, Petroleum Products, Machinery, Plastics, Transportation Equipment, Edible Oils, Paper And Paperboard, Iron And Steel, Tea
Industries
Textiles And Apparel, Food Processing, Pharmaceuticals, Construction Materials, Paper Products, Fertilizer, Shrimp