Pakistan Economy

Paper Rating: Word Count: 2484 Approx Pages: 10

Salient Features: Low-income country with promising growth but transition to middle-income nation held back by chronic problems including rapidly rising population, sizable government deficits, heavy dependence on foreign aid, large military expenditures, and recurrent governmental instability.

Gross Domestic Product (GDP): In FY 1993, equivalent of US$50.8 billion, or about US$408 per capita; GDP growth rate averaged 5.3 percent a year between 1950 and 1993.

Agriculture: Declined over the past four decades from 53 percent of GDP in 1950 to 25 percent of GDP in FY 1993, but still employs about 48 percent of labor force. Notable for having world's largest continuous irrigation canal system.

Industry: Leading growth component of economy, industry (including mining, manufacturing, and utilities) accounted for about 21.7 percent of GDP in FY 1993, up from 8 percent in FY 1950, and employed 13 percent of labor force.

Services: Services, including construction, trade, transportation and communications, and other services, accounted for 53.3 percent of GDP in FY 1993 and employed 39 percent of labor force. About 7 percent of civilian work force employed in construction, 13 percent in trade, 5 percent in transportati

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