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.
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.
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.
According to a conservative estimate by PriceWaterhouseCooper (PwC), Pakistan (now at 26) will be 15th largest economy by GDP (PPP) in 2050.
A 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 $73 trillion.
According to 2050 projections by HSBC bank, Pakistan economy is likely to grow by 5 percent by 2050. An HSBC graph below:
Pakistan: The brighter side:
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: Wali on The Pakistan 2050 Opportunity
See also, some other indices on Pakistan:
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:
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According to PriceWaterhouseCooper (PwC), growth in emerging economies will outpace growth in developed nations over the coming decade.
The graphic above shows Pakistan and other N11 emerging economies growing better than G7 nations.