Pakistan is world’s 4th fastest growing economy: HSBC
Pakistan is the world’s fourth fastest growing economy after Bangladesh, Ethiopia and India, according to the 2018 global research report by HSBC.
Titled ‘The World in 2030‘, and released on 25 September 2018, it gives HSBC’s long-term projections for 75 countries.
According to HSBC, China looks set to be the world’s largest economy by 2030 while India would jump to No. 3 after USA, pushing Germany and Japan down.
Pakistan’s GDP growth projections to 2030 will average 5.7%, the highest being 6.5% in 2028-2033 five-year period.
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Currently, Pakistan is world’s 40th largest economy with a size of $0.3 trillion ($300 billion).
By 2030, Pakistan will become world’s 30th largest economy with a size of $0.6 trillion ($600 billion), gaining a 10-point increase in global ranking. The other high-ranking countries are Bangladesh (16 points up) and Philippines (11 points up).
As a cause for optimism, this writer/blog has been forecasting Pakistan’s economic future (this, this, and this) for over a decade, which Pakistan’s mainstream media – both electronic and print – conveniently ignore, thus creating pessimism among thousands of graduating classes about country’s future.
HSBC report link here.
Wali Zahid is a longtime China watcher and a Pakistan futurist. An award-winning journalist, he writes on issues of significance to Pakistan and CPEC & BRI.