Pakistan: Growth rate of the real gross domestic product (GDP) from 2015 to 2025 by statista.
Article written by Aaron O’Neill.
Pakistan’s gross domestic product (GDP) growth was 5.53 percent in 2018 after adjusting for inflation.
GDP in developing nations
Gross domestic product measures value of all final goods and services produced within a country’s borders during a certain period of time. In developing countries including Pakistan, GDP should rise more quickly due to “catch-up growth”. In many developing nations, employment is shifted from agriculture to the services sector; simply shifting workers from one sector to more productive sectors increases the income of both the workers and their employers, increasing GDP. This raises GDP per capita (383750), which gives a general idea of the level of development.
Due to historic tensions, Pakistan neither imports nor exports a significant amount from its neighbor India, favoring China instead. Its other neighbors, Afghanistan and Iran, are not as economically stable at the moment. Pakistan’s own GDP is also not in the best shape and is expected to drop during 2019, however, Pakistan stands to benefit from China’s Belt and Road Initiative (CPEC), which would revive the trading routes that made Pakistan wealthy in past centuries. If this comes to fruition, the GDP for Pakistan is sure to increase.
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