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Pakistan
Index
Salient Features: Low-income country with
promising
growth but transition to middle-income nation held back by
chronic problems including rapidly rising population,
sizable
government deficits, heavy dependence on foreign aid,
large
military expenditures, and recurrent governmental
instability.
Gross Domestic Product (GDP): In FY 1993,
equivalent of
US$50.8 billion, or about US$408 per capita; GDP growth
rate
averaged 5.3 percent a year between 1950 and 1993.
Agriculture: Declined over the past four decades
from
53 percent of GDP in 1950 to 25 percent of GDP in FY 1993,
but
still employs about 48 percent of labor force. Notable for
having
world's largest continuous irrigation canal system.
Industry: Leading growth component of economy,
industry
(including mining, manufacturing, and utilities) accounted
for
about 21.7 percent of GDP in FY 1993, up from 8 percent in
FY
1950, and employed 13 percent of labor force.
Services: Services, including construction,
trade,
transportation and communications, and other services,
accounted
for 53.3 percent of GDP in FY 1993 and employed 39 percent
of
labor force. About 7 percent of civilian work force
employed in
construction, 13 percent in trade, 5 percent in
transportation,
and 14 percent in other services.
Energy: Firewood, bagasse, and dung major energy
sources. Small crude oil production; over 90 percent of
petroleum
requirements imported. Natural gas, oil, and hydroelectric
power
major domestic commercial energy sources. Substantial
deposits of
poor-quality coal. Energy supplies constrain
industrialization in
mid-1990s.
Foreign Trade: United States and Japan largest
trading
partners. In FY 1993 United States accounted for 13.7
percent of
Pakistan's exports and 11.2 percent of its imports. Japan
accounted for 6.6 percent of exports and 14.2 percent of
imports.
Germany, Britain, and Saudi Arabia important trading
partners.
Hong Kong important export market. China significant
supplier of
imports. Trade with India negligible. Cotton and rice
major
exports; petrochemicals, chemicals, machinery, and
transportation
equipment major imports.
Balance of Payments and External Debt: Negative
balance
of trade in early and mid-1990s. In FY 1992, exports
US$6.9
billion and imports US$9.3 billion, resulting in trade
deficit of
approximately US$2.4 billion. Trade deficit expected to
increase
to US$2.5 billion in 1993. World Bank estimated US$24.1
billion
external debt in 1992.
Foreign Aid: Dependent on foreign aid for
development
efforts and balancing debt payments. United States the
largest
donor of aid since independence; all United States
military aid,
and all new civilian commitments ended October 1990.
Currency and Exchange Rate: Rupee (Rs) divided
into 100
paisa. US$1=Rs30.30 rupees in February 1994.
Fiscal Year: July 1 - June 30.
Data as of April 1994
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