Pakistan Economy 2013-14 – Highlights targets 2014-15

August 17, 2014 | By More

In the outgoing fiscal year 2013-14, the domestic economy showed a pickup in economic growth, compared to lack luster performance in the earlier few years. Broad based economic recovery, strengthening of macroeconomic stability and elimination of external account vulnerability are major achievements of the outgoing fiscal year, states the Pakistan Economic Survey 2013-14. During the year, economic growth picked up, inflation as contained in single digit, workers’ remittance rose, fiscal deficit was reduced, Pak Rupee strengthened, foreign exchange reserves improved, exports rose, fiscal deficit was brought down, there was a rise in foreign direct investment and stock market. The year also witnessed the successful launch of the Euro Bond and auction of long pending 3G and 4G license.

Following are the highlights of the Pakistan Economic Survey 2013-2014:

Growth Trends:

GDP grew by 4.14 percent against 3.7 percent a year earlier. The agriculture sector grew an estimated 2.12 percent, the industrial sector by 5.84 percent, large scale manufacturing by 5.13 percent and the services sector by 4.29 percent.

The agriculture’s crop sub-sector grew by 1.2 percent against preceding year’s 2.3 percent, due to a decline in growth of “other crops”. Among the important crops, sugarcane, rice, wheat and maize recorded higher outputs over a year earlier, while cotton output declined due a fall in area sown.

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Category: Taxation and Budget

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