Our falling GDP

Letter November 27, 2022


Pakistan is blessed with all what a country should dream about – an attractive geography, rich history, all four seasons, abundant natural resources, an educated and hardworking human resource, including youth in majority, and what not. Unfortunately, the country has long been mired in troubles of all kinds. However, it is the economic woes that are troubling the people the most. Pakistan stands 42nd among 195 countries of the world in terms of GDP, which is falling further, especially amid the prevailing political crisis in the country. In the year 2000, Pakistan’s GDP was $89.6 billion with the country ranked 44th. In 2005, it increased to $132.8 billion with the same rank. The figure rose to $199.4 billion in 2010 with country placed at 48 amongst 196 countries. In 2015, the GDP soared to $304.4 billion with a rank of 37. Currently, the country ranks at 42 with the GDP somewhere around $350 billion. By contrast, Bangladesh’s GDP currently stands at $416.3 billion even though it started off 24 years after us. Our economic managers need to devise polices for an export-led and FDI-laden economy so that the size of our economy, which is measured through GDP, is increased at least by regional standards.

Published in The Express Tribune, November 28th, 2022.

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