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Pakistan and its two largest city economies. Source: [1] As of 2019, Lahore had an estimated GDP of $84 billion. [2] [3] As of 2008, the city's gross domestic product (GDP) by purchasing power parity (PPP) was estimated at $40 billion (projected to be $102 billion by the year 2025, with a slightly higher growth rate of 5.6% per annum, as compared to Karachi's 5.5%).
Small-scale industry does not require much capital and high technology. I.T is suited to the traditional economic set-up. Cottage and small-scale industries do not use much imported material or equipment. The waste of large-scale industries, particularly the cotton, sugar and steel industries, can be used to make by-products. Home Decoration
Large Scale Manufacturing at 9.73% of GDP dominates the overall manufacturing sector, accounting for 76.1% of the sectoral share followed by Small Scale Manufacturing, which accounts for 2.12% of total GDP and 16.6% sectoral share. The third component, slaughtering, accounts for 0.94% of GDP with 7.4% sectoral share.
Manufacturing contributed 7.8% to the GDP, while services, trade, and other sectors accounted for a significant 39%, reflecting a policy centered around import-substituting industrialization. The trade balance of payments indicated a deficit of 66 million Rupees (Rs) during the period spanning 1949/50 to 1950/51.
The textile industry is Pakistan's largest manufacturing sector, employing nearly 25 million people. [1] [2] As the eighth largest exporter of textile commodities in Asia, the industry contributes 8.5% to the country's Gross domestic product. [3] It accounts for about 45% of the total labor force and 38% of manufacturing workers.
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.
Pakistan Industrial Development Corporation (PIDC) is a state corporation of Pakistan under Ministry of Industries and Production. It was created to set up industries in Pakistan in such fields where the private sector was shy and where large amount of capital outlay with long gestation period was required.
Pakistan Carpet Manufacturers and Exporters Association (PCMEA) was established in 1960 to run the affairs and work to promote carpet manufacturing industry of the country. The association is divided in two circles, Northern and Southern, with respective offices in Lahore and Karachi. The association has around 500 active members from all four ...