February 2017: The world’s GDP is around $74 trillion (above). Pakistan does not show in top economies yet. Soon, it is going to change.
25 May 2017: Pakistan has achieved 5.28 percent economic growth in 2016-17, the highest in a decade, according to Economic Survey of Pakistan, presented by Finance Minister Ishaq Dar.
The growth puts the country in the league of economies that have a size of over $300 billion.
Updated: Pakistan is world’s 40th largest economy by Gross Domestic Product (GDP) ranking, an IMF (International Monetary Fund) ranking reveals.
Based on 2015 IMF figures, with a population of 190 million, Pakistan’s GDP stands at $270 billion.
According to 2014 World Bank figures, with a population of 185 million, Pakistan’s GDP stood at $247 billion.
By GDP purchasing power parity (PPP) ranking, Pakistan stands at No 24, according to World Bank 2014 report. Our GDP PPP is $982 billion. In 2017, our GDP PPP is forecasted to cross the $1-trillion-mark.
This is how we grew in GDP, current since 2003. In 2015, our GDP was $270 billion.
Have you seen CPEC & OBOR stories on this blog?
CPEC fact sheet: 2013-2017
16 CPEC projects in Balochistan, 8 in KPK: Chinese Embassy
Chinese Embassy shares progress on CPEC projects
40 CPEC projects in 4 photos & 60 seconds
CPEC gets 4-layer security as Gwadar to be weapon-free
China’s world-reshaping One Belt, One Road (OBOR)
Here is a list of some familiar economies Pakistan is ahead of in 2015:
43 Ireland ($238B)
45 Bangladesh ($206B)
47 Greece ($195B)
49 Vietnam ($191B)
50 Qatar ($185B)
53 Kazakhstan ($173B)
55 New Zealand ($172B)
56 Iraq ($170B)
57 Kuwait ($121B)
Pakistan ranking in all the four 2015 lists: IMF, World Bank, United Nations, CIA Factbook.
Harvard predicts Pakistan GDP to grow by 5% over next 10 years
Pakistan is the world’s fastest-growing Muslim economy: The Economist
Pakistan GDP set to grow by 5.3% by 2020: IMF
Pakistan’s unprecedented successes in stock market
$10B TAPI natural gas pipeline to be operational in 2020
In a corruption-riddled world, Pakistan is better than one-third countries: TI
Pakistan world’s least expensive country: World Bank
Pakistan petrol prices 18th lowest in the world
The world’s largest five economies (GDP real) are:
1 USA (GDP $18 trillion)
2 China (GDP $11 trillion)
3 Japan (GDP $4.1 trillion)
4 Germany (GDP $3.3 trillion)
5 UK (GDP $2.8 trillion)
This is how our GDP growth was – from 2003 and forecasted till 2020. In 2015, our GDP growth was 4.2 percent.
Pakistan’s travel infrastructure
Mass-transit transport in urban Pakistan starting to get a facelift
Take a Metro bus from Pindi to Islamabad and pay 20¢
Multan gets its Metro bus service
Lahore awaits its Orange Line Metro Train
e-ticketing on Green Line train from Islamabad to Karachi
Karachi to get Green Line bus service by end-2017
Karachi may have Yellow Line bus service in 2 years
According to another conservative estimate by PriceWaterhouseCooper (PwC), Pakistan (now at 24) will be 16th largest economy by GDP (PPP) in 2050.
The PwC graphic below:
With a GDP of $2.1 trillion currently, our South Asia neighbour India is at No 7.
The ranking of some significant Muslim countries ahead of Pakistan is below:
Indonesia ($859B) at No 16
Turkey ($733B) at No 18
Saudi Arabia ($653B) at No 20
Nigeria ($490B) at No 24
Iran ($388B) at No 29
UAE ($345B) at No 31
Egypt ($330B) at No 32
Malaysia ($296B) at No 34
The world’s combined GDP is $74 trillion.
According to 2050 projections by HSBC bank, Pakistan economy is likely to grow by 5 percent by 2050. An HSBC graph below:
By 2050, with an estimated GDP of $3.33 trillion, Pakistan is expected to become the world’s 18th largest economy, according to Goldman Sachs.
A BBC graphic below.
More on this: Back to the future: Pakistan in 2050
See also, some other indices on Pakistan:
Pakistani passport ranked second worst for international travel
Pakistan 11th strongest military in the world
Pakistan’s global competitiveness – in 11 photos
Pakistan among top 10 global improvers in World Bank’s 2017 Doing Business rankings
Pakistan at rock bottom in Human Capital Index
Pakistan ranks 5th in terrorism-affected countries list
Pakistan world’s 14th most fragile country
Will Pakistan risk falling behind when S Asia ups economic game
91% Pakistanis have access to drinking water: Unicef/WHO
Pakistan 65th most vulnerable country to face climate change
Which country has the worst air pollution? | Hint: Pakistan
2025 forecast: In medium term, by 2025, Pakistan will be world’s 23rd largest economy. Pakistan’s GDP (PPP) in 2025 will be $1.25 trillion and GDP Nominal will be $484 billion.
2020 forecast: Here’s how Pakistan’s economic performance has been since 1980 on three measures – 1) GDP, 2) GDP PPP and 3) GDP growth:
Understanding Pakistan Series
According to PriceWaterhouseCoopers (PwC), growth in emerging economies will outpace growth in developed nations over the coming decade.
The graphic above shows Pakistan and other N-11 emerging economies growing better than G-7 nations.