Pakistan is a federal parliamentary republic in South Asia on crossroads of Central Asia and Western Asia. Economists estimate that Pakistan has been part of the wealthiest region of the world throughout the first millennium CE having the largest economy by GDP. This advantage was lost in the 18th century as other regions edged forward such as China and Western Europe.[1]
Pakistan is considered as a developing country[2][3][4] and is one of the Next Eleven, the eleven countries that, along with the BRICs, have a high potential to become the world's largest economies in the 21st century.[5] However, after decades of social instability, as of 2013[update], serious deficiencies in macromanagement and unbalanced macroeconomics in basic services such as train transportation and electrical energy generation had developed.[6] The economy is considered to be semi-industrialized, with centres of growth along the Indus River.[7][8][9] The diversified economies of Karachi and Punjab's urban centres coexist with less developed areas in other parts of the country particularly in Balochistan.[8] According to the Economic complexity index, Pakistan is the 67th largest export economy in the world and the 106th most complex economy.[10] During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion.[11]
For further information on the types of business entities in this country and their abbreviations, see "Business entities in Pakistan".
^Maddison, Angus (2006). The World Economy. A Millennial Perspective (Vol. 1). Historical Statistics (Vol. 2). OECD. pp. 241, 261. ISBN 92-64-02261-9.
^Faryal Leghari (3 January 2007). "GCC investments in Pakistan and future trends". Gulf Research Center. Retrieved 12 February 2008.
^"Quid Pro Quo 45 – Tales of Success" (PDF). Muslim Commercial Bank of Pakistan. 2007. p. 2. Archived from the original (PDF) on 16 February 2008. Retrieved 12 February 2008.
^Malcolm Borthwick (1 June 2006). "Pakistan steels itself for sell-offs". BBC News. Retrieved 12 February 2008.
^Tavia Grant (8 December 2011). "On 10th birthday, BRICs poised for more growth". The Globe and Mail. Toronto. Retrieved 4 January 2012.
^Declan Walsh (18 May 2013). "Pakistan, Rusting in Its Tracks". The New York Times. Retrieved 19 May 2013. natural disasters and entrenched insurgencies, abject poverty and feudal kleptocrats, and an economy near meltdown
^Henneberry, S. (2000). "An analysis of industrial–agricultural interactions: A case study in Pakistan" (PDF). Agricultural Economics. 22: 17–27. doi:10.1016/S0169-5150(99)00041-9 (inactive 2024-02-07).{{cite journal}}: CS1 maint: DOI inactive as of February 2024 (link)
^ ab"World Bank Document" (PDF). 2008. p. 14. Retrieved 2 January 2010.
^"Pakistan Country Report" (PDF). RAD-AID. 2010. pp. 3, 7. Archived from the original (PDF) on 12 January 2012. Retrieved 26 December 2011.
^"Pakistan". atlas.media.mit.edu. Archived from the original on 18 March 2017. Retrieved 4 March 2017.
^Hamza, Abrar (July 16, 2016). "Pakistan's trade deficit widens to 35-year high in FY16". Daily Times (Pakistan). Retrieved 14 February 2017.
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