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Pakistan, full name the Islamic Republic of Pakistan, is a state in South Asia. Pakistan was formed as a sovereign political organization in 1947 as a result of the division of the territory of British India. Bordered by Afghanistan in the northwest and north, China in the northeast, India in the east, Iran in the southwest.
Official language: Pakistan is a multilingual country. Urdu and English have the status of the state language. In the provinces of Pakistan, provincial languages: Punjabi in Punjab, Sindhi in Sindh, Baloch in Baluchistan, and Pashto in Khyber Pakhtvukhwa are used.
Economy. GDP volume: 278 billion USD (2019). GDP annual growth rate: 1.91% (2019), GDP per capita: USD 1186 (2019), GDP per capita based on PPP: USD 4690 (2019).
According to the World Bank's "Doing Business" rating, Pakistan ranks 108th out of 190 countries. Currency: Pakistani rupee.
Main branches of the economy
Agriculture remains the backbone of Pakistan's economy. The most important crops are wheat, sugarcane, cotton and rice, which together account for over 75% of the total value of exported crops. The largest food crop in Pakistan is wheat. Pakistan produced 26,674,000 tons of wheat in 2017, according to the USDA, which is more than all of Africa and almost as much as all of South America.
The most developed manufacturing industry in Pakistan is textiles, which uses domestic raw materials. In 1980, a metallurgical plant was built near Karachi. There are oil refineries. Small-scale production is developed: sporting goods and the pharmaceutical industry.
Mining
In 1952, the first natural gas deposits were discovered in Baluchistan, but later they were found in Sindh and Punjab. 7 oil fields were discovered too. Oil reserves are estimated at 300 million barrels.
Other minerals include coal, chrome ores, marble, table salt, limestone, uranium, phosphorites, barite, sulfur, precious and semiprecious stones.
Automotive industry
In April 2005 Pakistan started the production of REWO own car. There is also an assembly plant for KAMAZ vehicles in Karachi.
Total exports from Pakistan totaled 23 billion USD in 2019. In value terms, the increase in the supply of goods from Pakistan amounted to 0.54% compared to 2018: the export of goods increased by 127 million USD (in 2018, values in the amount of 23 billion were supplied from Pakistan).
Export structure
17% (4.06 billion USD): Finished textiles; sets; used clothing and textiles; rags
13.6% (3.24 billion USD): Cotton
12.7% (3.02 billion USD): Articles of apparel and clothing accessories, knitted or crocheted
11.8% (2.8 billion USD): Articles of apparel and clothing accessories, not knitted or crocheted
9.97% (2.36 billion USD): Cereals
2.66% (632 million USD): Leather goods; saddlery and harness; travel accessories, handbags and similar items
1.98% (472 million USD): Fish and crustaceans, molluscs and other aquatic invertebrates
1.9% (453 million USD): Optical, photographic, cinematographic, measuring, control, precision, medical or surgical instruments and apparatus; parts and accessories
1.82% (433 million USD): Salt; sulfur; earth and stone; plastering materials, lime and cement
1.67% (397 million USD): Edible fruits and nuts; peel of citrus fruits or melons
Pakistan's total imports totaled 50 billion USD in 2019. The decrease in the supply of goods to Pakistan in value terms amounted to 16.8% compared to 2018: imports of goods decreased by 10.1 billion USD (in 2018, goods/services worth 60 billion USD were imported to Pakistan).
Top 5 Pakistani companies
Oil and Gas Development Company Limited (OGDCL): OGDCL is a major player in Pakistan's oil and gas industry, engaged in the exploration, production, and marketing of hydrocarbons, contributing significantly to the country's energy sector.
Pakistan Petroleum Limited (PPL): PPL is another leading company in Pakistan's energy sector, focusing on oil and gas exploration and production, playing a crucial role in the country's energy industry.
Engro Corporation: Engro is a diversified conglomerate with interests in various sectors, including petrochemicals, fertilizers, food, and energy. It is one of Pakistan's largest and most respected corporate entities.
Habib Bank Limited (HBL): HBL is one of Pakistan's oldest and largest commercial banks, offering a wide range of banking and financial services, both domestically and internationally.
MCB Bank Limited: MCB is another major commercial bank in Pakistan, known for its extensive network and comprehensive banking services. It plays a vital role in the country's banking and financial sector.
Top Five Largest Pakistani Banks
Habib Bank Limited (HBL): HBL is one of Pakistan's largest and oldest commercial banks. It has a wide network of branches and offers a comprehensive range of banking and financial services to individuals and businesses.
United Bank Limited (UBL): UBL is another major commercial bank in Pakistan with a strong presence and extensive banking services. It is known for its retail and corporate banking operations.
MCB Bank Limited: MCB is a prominent commercial bank in Pakistan, offering a wide array of financial products and services. It has a significant market share in the banking sector.
National Bank of Pakistan (NBP): NBP is one of the largest and state-owned banks in Pakistan. It has a broad network of branches and provides various banking services.
Allied Bank Limited (ABL): ABL is a well-established commercial bank with a presence in various cities across Pakistan. It offers retail and corporate banking solutions.
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