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2022 Pakistan floods in summer cause over $30 billion dollars in economic losses in Pakistan. [43] At the end of March 2022, the State Bank of Pakistan's reserves stood at $11.425bn, but they gradually tanked to an almost four-year low of $6.715bn on 2 December. Pakistan's foreign exchange reserves equal to just five weeks of merchandise ...
Common indicators include a state whose central government is so weak or ineffective that it has little practical control over much of its territory; non-provision of public services; widespread corruption and criminality; refugees and involuntary movement of populations; and sharp economic decline. [1]
In recent years, the Germany—Pakistan trade and science relations have developed greatly with Germany investing in and trading with Pakistan. Germany is actively involved in Pakistan's socio-economic development and is an active member of the Friends of Democratic Pakistan Forum. Pakistan and Germany also enjoy good economic relations.
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]
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 ...
Germany and Pakistan enjoy closely cordial relations. [citation needed] Germany has taken large measures to aid the South Asian country in its economic and governmental hardship. [citation needed] Commercial trade between Berlin and Islamabad has also been very essential in recent years seeing as Germany is Pakistan's fourth largest trade partner.
Pakistan's economy remains under severe strain due to a debt crisis, with the country facing challenges in repaying $1.2 billion in outstanding payments. [27] In Pakistan, inflation maintains its upward trajectory, as indicated by the most recent official data, which shows a year-on-year increase of 35.4% in the consumer price index for March 2023.
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...