Pakistan has the worst economy in Asia-Pacific region: Report

Published: November 3, 2012
Email
Legatum Institute releases 2012 Prosperity Index, ranking Pakistan at 132nd. PHOTO: LEGATUM INSTITUTE

Legatum Institute releases 2012 Prosperity Index, ranking Pakistan at 132nd. PHOTO: LEGATUM INSTITUTE

LONDON: The 2012 Legatum Prosperity Index, which ranks 142 countries on global prosperity based on both material wealth and personal well-being, has ranked Pakistan 132 on their list.

Pakistan ranks higher than Afghanistan, which came in at 140.

The US, now ranked at 12, fell out of the top ten for the first time, due primarily to an economic decline. Norway topped the rankings.

The data has been calculated by implementing 89 different variables, which are spread across eight sub-indexes: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital . These variables measure economic growth and well-being to determine the final Prosperity Index scores.

Key findings of the study show that global prosperity is increasing, but safety and security are decreasing, driven mostly by the Arab Spring in Middle Eastern countries such as Tunisia, Egypt in addition to Yemen.  The data also reveals that six of the top 15 economies in the world are located in Asia.

The index highlighted that the system of government is a major factor in prosperity, with 27 of the top 30 countries on the list being democratic nations.

India, placed 101 on the Index, experienced a decline in prosperity because of a decrease in its score on the governance sub-index. Indian regions of Gujarat and Uttarakhand scored high on the social capital sub-index, having ranks equivalent to Germany and Belgium, respectively.

Pakistan ranked last on the economy sub-index in the Asia-Pacific region, experiencing the largest drop in the region. In the sub-indexes of safety and security and social capital, Pakistan ranked in the bottom ten worldwide.

Afghanistan ranked in the bottom ten on the Prosperity Index in the categories of Governance, Personal Freedom, Safety & Security and Education.

Facebook Conversations

Reader Comments (27)

  • Jpy
    Nov 3, 2012 - 9:53PM

    Well done. Keep it up guys

    Recommend

  • Truth
    Nov 3, 2012 - 10:14PM

    We need to try harder to achieve our goal of 140….

    Recommend

  • Akhter
    Nov 3, 2012 - 10:16PM

    Tell me something I dont already know!
    Jeeveh bhutto.
    “Democracy is the best revenge!”soon we will have the honour of being below Afghanistan! Lekin phir be jeeveh bhutto! Who cares if Pakistan disintegrates.

    Recommend

  • Sultan
    Nov 3, 2012 - 10:37PM

    It is all Imran Khan’s fault!

    Recommend

  • mirza
    Nov 3, 2012 - 10:39PM

    pakistan and aghanistan seems interesting….what will be ranks after say 10 years???

    Recommend

  • Ha
    Nov 3, 2012 - 10:59PM

    So whats the news? we all already know this.

    Recommend

  • Nov 3, 2012 - 11:10PM

    Dont worry guys, Imran Khan will make it number 1 on the list in 21 days. Geo Imran! Geo PTI!

    Recommend

  • Aryabhat
    Nov 3, 2012 - 11:34PM

    Gujarat ranked same as Germany, while Pakistan is at 132 out of 142 nations!

    BTW, Guajart is ruled by Pakistan’s favourite for last 10 years – Narendra Modi!

    Recommend

  • Saleem
    Nov 3, 2012 - 11:37PM

    Yes, I know this already. But we are a happy people (high ranking in the world happiness index)

    Recommend

  • IceSoul
    Nov 3, 2012 - 11:39PM

    @TightPatloon: You underestimate IK, he’ll make it number 1 in just 9 days!

    Recommend

  • Adnan
    Nov 4, 2012 - 12:08AM

    Who are these people?!

    Recommend

  • ayesha
    Nov 4, 2012 - 12:33AM

    @TightPatloon:
    INSHALLAH
    Vote PTI please..

    Recommend

  • Ali
    Nov 4, 2012 - 12:38AM

    we are in the middle of a war what do you expect ??

    Pakistan is still under less debt than india as a % of GDP. and our exports hit record high last years all this with massive energy crises. PAkistan economy is a tiger just chained temporarily

    Recommend

  • sid
    Nov 4, 2012 - 12:47AM

    Modi’s Gujrat will soon become Modi’s India………….We want Modi for growth……Recommend

  • Jahangir Mari
    Nov 4, 2012 - 1:00AM

    “Democracy is the best revenge.” That revenge has been undertaken against the country, nation and its most disciplined institution.

    Recommend

  • Nov 4, 2012 - 1:13AM

    The Pak economy isn’t exactly in the best shape but I would take what this report says with a pinch of salt. After all they are ranking the US at 12, China at 55 and India at 101.

    Recommend

  • rafazliban
    Nov 4, 2012 - 2:29AM

    proud to be pakistani

    Recommend

  • Mard-e-Haq
    Nov 4, 2012 - 3:45AM

    @TightPatloon,

    You are wrong. Imran can will catapult Pakistan into the Top 10 – number 9 to be precise – within 19 days of taking power.

    Recommend

  • curious
    Nov 4, 2012 - 4:10AM

    @TightPatloon. One person cannot change everything. Realistically there are immense hurdles and challenges ahead.

    Recommend

  • cosmo
    Nov 4, 2012 - 8:58AM

    @sid:
    We don’t!!

    Recommend

  • Nov 4, 2012 - 9:07AM

    I don’t put much credence in indices and rankings like Legatum simply because such organizations ignore basic measures like per capita income, life expectancy, size of middle class, upward mobility, level of urbanization, educational achievement, per capita consumption of energy, cement, food, retail sales, etc. that say far more about a nation’s economy than Legatum’s subjective criteria.

    A much better measure can be found in Hans Rosling’s compilation of a bunch of economic and social indicators at gapminder.org

    The Gapminder animations of health and wealth idicators show that life expectancy in Pakistan has jumped from 32 years in 1947 to 67 years in 2009, and per Capita inflation-adjusted PPP income has risen from $766 in 1948 to $2603 in 2009.

    Pakistan has also continued to offer much greater upward economic and social mobility to its citizens than neighboring India over the last two decades. Since 1990, Pakistan’s middle class had expanded by 36.5% and India’s by only 12.8%, according to an ADB report titled “Asia’s Emerging Middle Class: Past, Present And Future.

    http://www.riazhaq.com/2012/08/upwardly-mobile-pakistan-on-66th.html

    Recommend

  • alicia
    Nov 4, 2012 - 9:13AM

    Well what do you expect.
    Har choti choti baat per jalao gherao shuru ho jata hai. From Judges to politicians to ordinary awam everyone is incompetant, lazy and corrupt.

    Can’t believe it’s not worse.

    Recommend

  • M.Ahmer Ali
    Nov 4, 2012 - 10:11AM

    This is the most shameful report and most shameful time for PPP’s leaders who always have been saying and claiming since 2008 that Pakistan advanced and developed in our regime economically more than last nine years and we gained the higher achievements and made Pakistan more stronger economically than Musharraf’s regime and in the last this report proves and shows that corruption is on its peak in PPP’s regime in Pakistan because this is harsh and bitter reality that ***”Corruption and PPP go together”*** and this report has proven it very true and real…..Recommend

  • gp65
    Nov 4, 2012 - 12:33PM

    @Ali: IT is true. PAkistan’s debtt o GDP ratio at 60% is lower than India’s at 68% which in turn is lower than Japan, UK, US, France and Germany. While the absolute percentage does matter what is equally important is debt servicing capacity.

    Per WOrld Bank, debt servicing as percentage of total exports is sharply reduced over the eyars and in Pakistan the trend is the exact opposite. http://data.worldbank.org/indicator/DT.TDS.DECT.EX.ZS

    Recommend

  • mirza
    Nov 4, 2012 - 3:39PM

    @gp65: explain further dude……………so is dat a good sign for pakistan or bad??? and how???

    Recommend

  • Maher
    Nov 5, 2012 - 10:47AM

    Mashallah, another milestone of our DEMOCRATIC GOVT.Recommend

  • Ali
    Nov 5, 2012 - 1:01PM

    Yeh, Another progressive report. Proud to be Pakistani.

    Recommend

More in World