Pakistan Economic Survey, containing the details of major socio-economic achievements during the outgoing fiscal year 2024-25 (FY25), will be launched in a ceremony on Monday (tomorrow).
Federal Minister for Finance and Revenue Muhammad Aurangzeb will chair the launching ceremony of the Economic Survey for the outgoing fiscal year at 2:30 PM tomorrow.
The survey will highlight the economic gains and losses experienced during FY25.
For FY 2024-25, agriculture is projected to grow by only 0.56 percent due to a significant decline in major crops. Wheat output dropped 8.91 percent to 28.98 million tons, maize by 15.4 percent to 8.24 million tons, rice by 1.38 percent, sugarcane by 3.88 percent, and cotton by a steep 30.7 percent to 7.08 million bales. However, strong gains were recorded in potato (11.5 percent), onion (15.9 percent), mango (26.7 percent), and sesame (44.7 percent). Livestock, forestry, and fishing recorded provisional growth rates of 4.72 percent, 3.03 percent, and 1.42 percent, respectively.
The industrial sector is projected to grow by 4.77 percent, supported by a strong recovery in electricity, gas and water supply (28.88 percent), due to a low base from the previous year. Construction activity rose 6.61 percent, while large-scale manufacturing contracted by 1.53 percent. Within manufacturing, mixed trends were observed with strong growth in automobiles (40 percent), tobacco (13.12 percent), and textiles (2.15 percent), but double-digit declines in chemicals, metals, and electrical equipment.
Services grew by 2.91 percent, with all components posting positive trends. Information and communication rose by 6.48 percent due to a 24 percent jump in computer programming and consultancy services. Finance and insurance (3.22 percent), public administration (9.92 percent), education (4.43 percent), and health and social work (3.71 percent) all contributed to the expansion. Wholesale and retail trade, however, grew marginally by 0.14 percent due to weaker output in agriculture and manufacturing.
The size of Pakistan’s economy has now reached Rs.114.7 trillion (US$ 410.96 billion) in FY 2024-25, up from Rs.105.1 trillion (US$ 371.66 billion) last year. Per capita income rose to Rs. 509,174 or US$ 1,824. However, this figure is subject to revision once updated population projections based on the 2023 census are incorporated.
Pakistan’s economy is expected to grow by 2.68 percent in the ongoing fiscal year 2024-25, against earlier projections of 3.6 percent.
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