Pakistan has great prospect to develop and grow economically. Give reason.
Answers
Explanation:
The economy of Pakistan is the 23rd largest in the world in terms of purchasing power parity (PPP), and 42nd largest in terms of nominal gross domestic product. Pakistan has a population of over 220 million [37] (the world's 5th-largest), giving it a nominal GDP per capita of $1,357 in 2019,[38] which ranks 154th in the world and giving it a PPP GDP per capita of 5,839 in 2019, which ranks 132nd in the world for 2019. However, Pakistan's undocumented economy is estimated to be 36% of its overall economy, which is not taken into consideration when calculating per capita income.[39] Pakistan is a developing country[40][41][42] and is one of the Next Eleven countries identified by Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICS countries, among the world's largest economies in the 21st century.[43] The economy is semi-industrialized, with centres of growth along the Indus River.[44][45][46] Primary export commodities include textiles, leather goods, sports goods, chemicals and carpets/rugs.[47][48]
Growth poles of Pakistan's economy are situated along the Indus River;[45][49] the diversified economies of Karachi and major urban centers in the Punjab, coexisting with lesser developed areas in other parts of the country.[45]
Answer:
As of May 2019, the growth rate has been revised and the IMF has predicted that future growth rates will be 2.9%, the lowest in South Asia.
GDP growth: : 5.5% (17/18) 1.9% (18/19e); −2.6% (19/20f) −0.2% (20/21f);
Economic aid: $2.28 billion (2017)
GDP per capita rank: 151st (nominal; 2019); 132nd (PPP; 2019)
GDP rank: 42nd (nominal; 2019); 23rd (PPP; 2020