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.

pakistan-gdp-2003-2015

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 is now world's 40th largest economy

Pakistan ranking in all the four 2015 lists: IMF, World Bank, United Nations, CIA Factbook.


Related: 

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)

pakistan-gdp-growth-2003-2020

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:

pakistan-economy-is-likely-to-grow-by-5-by-2050-hsbc

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

MINT


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:

pakistan-gdp-ppp-growth-1980-2020

Understanding Pakistan Series

What to expect in Pakistan in 2017

Back to the future: Pakistan in 2050

Wali on Pakistan of future

Long Term Orientation in Pakistan: from Zero to 50 in 2 years

Pakistani culture through 6-D Model

Native languages in Pakistan

How future oriented are we?

How we messed up Pakistan: A series by Wali

Pakistan’s two value crimes no one talks about

Is Whatsapp your source of info? Welcome to Project Ignorance

Pakistan, emerging economies growing better than G7 nations

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.

  • arshad

    There is definitely an interplay between the professional approach and the moral values being followed by the ruling class affecting the outlook of nations. Like Colombians i wish we get some uncorruptables taking over the fate of the country in their hands. For that they have to divorce from all the luxuries of life and resort to bare minimum survivable requirements. But question is do we have those elements in society? Or will they be able to get to power through peaceful democratic process? Its going to be a “long walk to freedom” from clutches of vultures, therefore, young educated generation will have to create a consensus among them to prepare for the future (2050) to achieve the forcasted results or even beyond. The days of revolutions are over and progress is possible through incremental improvements in all institutions which has to be inclusive instead of being absolute as these are today.
    Good Job Mr. Wali Zahid