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However, the Pakistan-India War of 1965 led to reduced foreign economic assistance, impacting the growth rate of large-scale manufacturing. From 1965–70, this sector grew at a comparatively lower rate of 10% per annum. Despite challenges, Pakistan achieved an impressive average annual GDP growth rate of 6.7% throughout the 1960s.
Despite this, Pakistan's average economic growth rate since independence has been higher than the average growth rate of the world economy during the same period. Average annual real GDP growth rates [25] were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. Average annual growth fell to 4.6% in the 1990s with significantly lower ...
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]
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person recalculated according to the changing number of the population of the country.
In April 4, the World Bank projected about 4 million Pakistani people falling below the lower middle-income ($3.6/day ) poverty line amid economic growth plummeting to just 0.4% against a target of 5pc. [39] In May 2023, Pakistan's inflation rate reached 38%, surpassing Sri Lanka to become the highest country in Asia. [40]
Constant economic pressure and failure of the planned economy led the dismissal from power of Benazir Bhutto in 1996 when she failed to materialize her and the relatively poor economic growth. By the 1996, the economic GDP growth had reached to 1.70% [13] (lowest growth since 1970) and the rate of inflation had risen to 10.79% (highest since 1991).
This is a list of countries by real GDP per capita growth rate. These numbers are corrected for inflation but not for purchasing power parity. [2] ... Pakistan-1.9: 2023
The 2023–24 Pakistan federal budget was the ... The budget included funding for a number of development initiatives to increase the nation's economic growth rate.