Overview: Pakistan is a poor Third World country faced with the usual problems of rapidly increasing population, sizable government deficits, and heavy dependence on foreign aid. In addition, the economy must support a large military establishment and provide for the needs of 4 million Afghan refugees. A real economic growth rate averaging 5-6% in recent years has enabled the country to cope with these problems. Almost all agriculture and small-scale industry is in private hands, and the government seeks to privatize a portion of the large-scale industrial enterprises now publicly owned. In December 1988, Pakistan signed a three-year economic reform agreement with the IMF, which provides for a reduction in the government deficit and a liberalization of trade in return for further IMF financial support. Late in 1990, the IMF suspended assistance to Pakistan because the government failed to follow through on deficit reforms. Pakistan almost certainly will make little headway on raising living standards for its rapidly expanding population; at the current rate of growth, population would double in 29 years.

GNP: $43.3 billion, per capita $380; real growth rate 5.0% (FY90 est.)

Inflation rate (consumer prices): 5.7% (FY90)

Unemployment rate: 10% (FY91 est.)

Budget: revenues $5.6 billion; expenditures $10.2 billion, including capital expenditures of $2.7 billion (FY91 est.)

Exports: $4.8 billion (f.o.b., FY90); commodities--rice, cotton, textiles, clothing; partners--EC 31%, Japan 11.6%, US 11.5% (FY89)

Imports: $6.5 billion (f.o.b., FY90); commodities--petroleum, petroleum products, machinery, transportation equipment, vegetable oils, animal fats, chemicals; partners--EC 26%, US 16%, Japan 14% (FY89)

External debt: $20.1 billion (1990 est.)

Industrial production: growth rate 7.5% (FY91 est.); accounts for almost 20% of GNP

Electricity: 7,575,000 kW capacity; 29,300 million kWh produced, 270 kWh per capita (1989)

Industries: textiles, food processing, beverages, petroleum products, construction materials, clothing, paper products, international finance, shrimp

Agriculture: 25% of GDP, over 50% of labor force; world's largest contiguous irrigation system; major crops--cotton, wheat, rice, sugarcane, fruits, and vegetables; livestock products--milk, beef, mutton, eggs; self-sufficient in food grain

Illicit drugs: illicit producer of opium poppy and cannabis for the international drug trade; government eradication efforts on poppy cultivation of limited success

Economic aid: (including Bangladesh before 1972) US commitments, including Ex-Im (FY70-89), $4.5 billion authorized (excluding what is now Bangladesh); Western (non-US) countries, ODA and OOF bilateral commitments (1980-88), $8.2 billion; OPEC bilateral aid (1979-89), $2.3 billion; Communist countries (1970-89), $3.2 billion

Currency: Pakistani rupee (plural--rupees); 1 Pakistani rupee (PRe) = 100 paisa

Exchange rates: Pakistani rupees (PRs) per US$1--22.072 (January 1991), 21.707 (1990), 20.541 (1989), 18.003 (1988), 17.399 (1987), 16.648 (1986), 15.928 (1985)

Fiscal year: 1 July-30 June

NOTE: The information regarding Pakistan on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Pakistan Economy 1991 information contained here. All suggestions for corrections of any errors about Pakistan Economy 1991 should be addressed to the CIA.