巴基斯坦经济概论【上】-巴基斯坦馆-商友邦网
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OVERVIEW OF PAKISTAN'S ECONOMY

The economy of Pakistan is the 27th largest in the world in terms of purchasing power parity (PPP) and 38th largest in terms of nominal Gross Domestic Product. In 2014-15, the GDP was recorded at 4.24 percent up from 4.02 percent in 2013-14.

Traditionally the economy of Pakistan has been semi- industrialized with agriculture as the major contributor to GDP, with centers of growth along the Indus River. Over the decades services and industrial sectors have developed significantly. The service sector has grown to become the biggest contributor to GDP, calculated at 58.8 percent in 2014-15. During the same period, the agricultural and industrial sector respectively accounted for 20.9 percent and 20.3 percent of the GDP.

With a large population, majority of which is young, Pakistan is a consumption oriented economy. Consumption, investment and exports are the drivers of the country with exports being the biggest driver of economic growth. Most of Pakistan’s exports are to Afghanistan, United States of America, United Arab Emirates, European Union, the United Kingdom and the Middle East. Major exports include agricultural products, textile products, sports goods, leather & leather products, surgical instruments, light engineering goods and services. The import bill accounts mostly for the import of fuel, heavy machinery and industrial equipment. Major sources of imports are China, Saudi Arabia, United States, Malaysia, United Arab Emirates, United Kingdom, the European Union and Japan.

Pakistan is a fast urbanizing country. The biggest industrial hub is the port city of Karachi (Sindh Province). Other industrial centers are located in major cities of the Punjab Province. A vast population lives outside major urban centers in small towns and villages practicing traditional trades of economy i.e. agriculture, animal husbandry and small scale cottage industry.


The country’s economic management is based on liberalization including privatization of state-owned corporations as well as de-regulation and economic restructuring. The objective is to create a market-based competitive economy through innovation and investment. Pakistan is implementing extensive fiscal control programmes aimed at reducing non- developmental expenditures and increasing government revenues through tax reforms.

I n 2014 Paki stan ranked 3rd amongst the top ten best per formi ng capi tal markets in the worl d for the thi rd consecutive year. A series of initiatives have helped stabilize the capital market. This has led to a stable financial outlook on the long-term rating by Standard & Poor.

The historical agreement with the Chinese Government on China-Pakistan Economic Corridor (CPEC), good reviews from IMF, issuance of Ijara Sakuk Bond, Euro Bond after a period of 9 years, decline in unemployment rate from 6.2 to 6.0 percent all point to a faster growing economy.

MAIN ECONOMIC SECTORS

Services Sector

Sector Overview

In recent years, the services sector has grown at a considerably faster rate than the commodity producing sector of the Pakistani economy. It has emerged as the most significant driver of economic growth. In 2014-15 the services sector contributed 58.8 percent of the GDP and registered a growth rate of 4.95 percent. This sector has potential for further growth.

The sub-sectors are: Transport, Storage and Communication; Wholesale and Retail Trade; Finance and Insurance; Housing Services (Real Estate); General Government Services (Public Administration and Defense); and Other Private Services (Social Services).

During 2014-15, the growth of these sub-sectors were as follows: Transport, Storage and Communication - 4.21 percent, Wholesale and Retail Trade - 3.38 percent, , Finance and Insurance - 6.18 percent, Housing Services - 4.0 percent, General Government Services - 9.44 percent and Other Private Services - 5.94 percent.

 

Investment Potential

  • Pakistan is home to a host of multinational companies and financial institutions. There is room for further investment in fi nancial and insurance markets.
  • The demand for large scale commercial transportation and mass-transit systems is growing with the expansion of road infrastructure. Foreign investors can take advantage of this opportunity and invest in the transport sector.
  • With a 190 million population, over 50 percent of which is the middle class, Pakistan is now a consumption driven society. Demand for branded products and international franchises is also increasing as new and modern shopping malls are coming up in major cities.
  • There is tremendous potential of investment in the tourism industry in Pakistan which is endowed with many tourist attractions. These are historic sites such as remnants of the Indus Valley Civilization at Mohenjo-daro, Harappa and Taxila as well as architectural marvels of the Mughal era and the breathtaking beauty of Gilgit-Baltistan where the second highest peak of the world i.e. K-2 is located.
  • Agriculture Sector

    Sector Overview

    Pakistan has a rich and vast natural resource base covering various ecological and climate zones. It also has one of the largest canal water irrigation systems in the world. This gives the country the potential for producing a variety of food commodities. Land totaling 22.45 million hectares is already under cultivation, 16.5 million hectares of which are located in the Punjab Province.

    Dairy

    Pakistan has huge dairy industry, with the country ranking fourth among milk producing countries with a production of 45,529 tons of milk which is worth Rs. 177 billion (approximately US$ 1.77 billion). This sector has immense potential for further development . Milk production can easily be multiplied by applying mechanized farming techniques and scientific breeding methods. Foreign investors have found the dairy sector as an attractive avenue for investment.

    Livestock and Poultry

    Pakistan has the 3rd largest livestock population in the world. Traditionally this sector has been dominated by small producers to meet their food security needs and supplement this income. The livestock and poultry sector performs a vital role in Pakistan’s economy with contribution of around 12 percent of GDP. During 2014-15, livestock share in the agriculture sector value addition stood at 56.3 percent. Livestock recorded a growth of 4.12 percent. Major livestock and poultry products include meat, eggs, animal and hides. The major share of production is consumed locally. Meat demand in Pakistan is growing at approximately 6 percent per annum and there is increased potential investment in production and distribution of meat, poultry and good quality slaughters houses.