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Global Trade Volume of Pakistan

Pakistan, an economy based on agriculture, has a share of 20% of agriculture in GDP. Wheat, rice, corn, cotton and sugar cane are the main agricultural products. In terms of many consumer products, the textile sector plays a major role in the industrial growth of the country which is self-sufficient. Ready-to-wear industry, leather and leather products, cement, health products, cotton, and wool weaving, soft drinks and sugar products are among the industrial goods. PraeGlobal plays an active role in Pakistan, which has made significant progress in the production of chemicals.

Pakistan Economic Data

2012 2013 2014 2015 2016 2017
Population (million) 177,9 181,7 185,5 189,4 193,2 197
Per capita GDP ($) 1276,1 1320,6 1434,7 1466 1547
GDP (billion $) 224,4 231,2 244,4 271 283,7 305
Trade balance -19 -19 -23 -22 -26 -26,7
Export ($) 25 25 25 22 21 22
Import ($) 44 44 48 44 47 48,7
Foreign Trade Volume 69 69 73 66 68 70,7
Inflation rate (CPI, annual change %) 7,0 7,4 4,3 2,9 4,9

Economic Policies

Pakistan’s economy grew by 6% in the 1980s, while it fell to 5% in the 1990s and 6% later. The country’s economy, which was squeezed into a narrow area with wheat, cotton and textile products in exports, was saved from this situation with new and confident steps and started to take great steps for growth. The IMF has a major role in the implementation of Pakistan’s development programmes. The IMF loans to Pakistan have eased its doubts about Pakistan’s fiscal credibility from the point of view of other international financial institutions.

Trade Qualities

  1. Agriculture and Stock Raising

    The most important sector in the country’s economy is agriculture. In addition, half of the workforce is employed in agriculture. Agriculture supplies raw materials to the industry sector of the country and contributes to foreign exchange inflow. Among the most grown crops in Pakistan agricultural sector, chickpeas, cotton, rice, cane, oily seeds, potatoes, onions, garlic, peppers, and cereals are very important. The world’s fourth-largest cotton grower. Half of the agricultural income is derived from animal husbandry. Because sufficient irrigation can not be done, agriculture cannot be done in a large part of the arable areas.

  2. Indusrty

    Pakistan, which has a limited industrial structure before independence, has achieved a growth of 9% in the industrial sector in twenty years after declaring its independence. Sectors such as yarn weaving and sugar refineries that were supported by the state contributed to exports by developing.

  3. Banking

    In the early 1990s, financial services liberalized, and new banks obtained licenses. Money and credit policies have become market-oriented. Due to the increasing demand in the banking sector with the initiation of privatization, lending rates of banks have increased rapidly. Credit demands are usually from the textile sector. In the years when cotton production is low, credit demand is increasing. Consumer loans have also increased in recent years.

  4. Building

    In Pakistan, the government makes various initiatives for the building sector. The new housing policy aims to close the housing gap in the country. Migration from the border regions to large cities supports this trend. The government has encouraged banks to lend more loans in the building sector to support housing financing. The customs duties on the paint have been abolished and the materials used in housing construction have been reduced. The government also attaches importance to the improvement of roads and railways.

  5. Mining

    The country’s most important mineral resources are gold and copper. 20,000 tons of copper are produced per year. Mineral Resources are located in “Belucistan” region. The government has introduced a variety of incentives to improve and increase the production of mines and has made numerous investment partnerships with China.

  6. Transportation

    Freight transport by railway is very weak compared to road transport. The country does not pay much attention to railways. No progress has been made in the construction of a railway that will connect Pakistan and China. 96% of freight transport is carried out by highways. 60% of the total road length in Pakistan constitutes stabilizing roads. The government has taken control of its own to hire groups that can operate the roads under the control of regional governments and has been given control of the highways to an organization that manages the military pension funds. Transport is privatized but lack of incentives leads to various problems.

If you want to improve your business by investing in Pakistan, we are ready to offer you consultancy services in PraeGlobal. We are ready to share our knowledge with you as we have mastered all laws and economic opportunities in the country. We will provide all kinds of support for your company and we will be with you with all consultancy services with our expert staff in the process of establishment of your company.

With PraeGlobal’s active staff, you will feel like you are at home even you are in abroad.

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