Indicators of economy in Pakistan

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Pakistan 2020. Overall, gross domestic product in 2020 fell from 320.91 billion US dollars to 300.43 billion US dollars. With a drop of 6.4 percent, the economy in Pakistan suffered more significant losses than other countries. The tourism sector alone slumped by around 23 percent. The unemployment rate rose from 4.8 to 6.6 percent. The country's gross debt fell by 5.8 percent. The inflation rate fell from 10.6 percent previously to 9.7 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 348.26 billion US dollars (=108.5% of 2019).

Income and purchasing power

The average monthly income in Pakistan is 123 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 76.9 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Pakistan than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 91.0 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

In the Global Innovation Index, Pakistan ranked 87th in 2022 with 23.0 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1960 - 2021

Imports and Exports 2022

Development of imports and exports in billions of USD 1976 - 2022