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* Cotton production in million bales. Pakistan's principal natural resources are arable land and water. About 25% of Pakistan's total land area is under cultivation and is watered by one of the largest irrigation systems in the world. Pakistan irrigates three times more acres than Russia. Pakistan agriculture also benefits from year-round warmth.
The Pakistan Standards Institute, a government agency, has devised specific standards for different types of sports goods. The important items being produced are tennis rackets, hockey sticks, hockey balls, polo sticks, cricket bats and balls, footballs, (complete) and numerous goods used in both in-door as well out-door games.
Pakistan, which had almost no large industrial units at the time of partition in 1947, now has a fairly broad industrial base, and manufacturing accounts for about 17 percent of GDP. Cotton textile production is the single most important industry, accounting for about 19 percent of large-scale industrial employment.
Much of Pakistan's agriculture output is utilized by the country's growing processed-food industry. The value of processed retail food sales has grown 12% p.a. during the Nineties, & was estimated at over $1 billion in 2000, although supermarkets accounted for just over 10% of the outlets. [15]
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.
Since independence in 1947, the economy of Pakistan has emerged as a semi-industrialized one, the on textiles, agriculture, and food production, though recent years have seen a push towards technological diversification. Pakistan's GDP growth has been gradually on the rise since 2012 and the country has made significant improvements in its ...
During the government of Pakistan Tehreek-e-Insaf (PTI) increasing double-digit inflation led to growing political issues and deteriorating economic conditions. [22] [23] During the PTI period, Pakistan's total debt and liabilities increased by 80% while during three quarters of Fiscal Year 2021-22 the trade deficit rose 70% to $35.4 billion. [24]
In line with its status as a major port and the country's largest metropolis, it accounts for most of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year-book, tax and customs units in Karachi were responsible for 70.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. [3]