Sunday, September 22, 2019
No menu items!
Advertisement

Pakistan Economic Survey FY19, Key Highlights

Featured

Shinzo Abe reshuffles Japanese Cabinet, Shinjiro Koizumi appointed as environment minister

Japan's Prime Minister Shinzo Abe appoints foreign ministers and new defense ministers, in addition to elevating rising political figures,...

Saudi Arabia wants uranium enrichment for its nuclear program

Saudi Arabia wants uranium enrichment for its nuclear program, the energy minister said on Monday, adding that it may...

Trump’s decision has left Afghanistan on the verge of bloody lead in National elections

US President Donald Trump's decision to cancel talks with the Taliban, at least for the time being, has left...
Avatar
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

  • Provisional GDP growth rate clocks in at 3.3%, a 9 year low
  • Pakistan’s economy is now worth USD 257bn (PKR 38,559bn).
  • Key growth sectors: Services 4.7%, Industrial 1.4% and Agriculture 0.9%.
  • Major crops witnessed a decline of 6.6%.
  • The cotton output dropped by 17.5% YoY to 9.9mn bales.
  • Sugar cane production down by 19.4% to 67.2mn tones.
  • Agriculture credit to reach at PKR 805bn in 9MFY19, 20.8% higher than same period last year.
  • Investment to GDP ratio is set to clock in at 15.5% for FY19, while Savings to GDP is targeted at 10.7% for FY19.
  • Consumer Price Index (CPI) remained at 7.2% (as per 11MFY19 PBS data). Food price inflation remained at 4.2%, whereas prices of non-food items surged by 9.2% in 11MFY19.
  • Fiscal deficit for FY19 has reached at 6.5% of GDP.
  • Remittances have clocked in at USD 17.9bn as per 10MFY19 SBP data. Remittances for the outgoing year are projected at USD 21.5bn while Foreign Direct Investment (FDI) clocked in at USD 1.4bn during 10MFY19.
  • Current account deficit has clocked in at USD 11.6bn (4.8% of GDP) as per 10MFY19 SBP data and is targeted at 5.3% of GDP for FY19.
  • During 10MFY19, imports have clocked in at USD 44.0bn while exports have clocked in at USD 20.1bn.
  • Imports by end of the current year are estimated at ~USD 53.0bn while exports are expected to reach ~USD 23.9bn in FY19.
  • Trade deficit during 10MFY19 stands at USD 23.9bn vis-à-vis USD 25.8bn SPLY, expected to swell to USD 29.1bn by end of FY19.
  • Forex reserves have contracted to USD 15.1bn (as of 24-May-19, down 7.9% FYTD), and are targeted to settle at USD 15.5bn for FY19.
  • Income per capita has reached USD 1,497 (down by 9.4% YoY).
  • GDP growth target for FY20 is set at 4.0%.

Read also: Pakistan: Economic survey report to release today

Latest News

Hong Kong: Police used tear gas and rubber bullets to disperse violent protesters

In Hong Kong, protesters from the democracy movement clashed again with police on Saturday. The police used tear gas...

Adel al-Jubeir: Saudi Arabia takes appropriate action against Iran

Saudi Foreign Minister Adel al-Jubeir said the investigation would prove that the September 14 attacks came from the north and Iran was responsible. Tehran...

Israeli president will begin consultations on forming a new government tomorrow

Israeli President Reuven Rivlin on Sunday will begin consultations on forming new government with parliamentary blocs winning Tuesday's Knesset elections as a prelude to...

Iran holds joint exercises with Russia and China in Oman Sea and Indian Ocean

Iran has announced that it will hold joint exercises with Russia and China soon in the Sea of ​​Oman and the Indian Ocean, for...

French police arrest 90 demonstrators during Yellow Vest protests

French police on Saturday arrested 90 protesters and fired tear gas during protests called for by the "yellow Vest", Russia Today reported. The French authorities...

Related News