Islamabad: Pakistan's National Economic Survey for the fiscal year 2024-25 has been finalized and is set to be presented by Federal Finance Minister Muhammad Aurangzeb tomorrow, Monday, at 2:30 PM. Ahead of its official unveiling, crucial preliminary details of the report have emerged, outlining the nation's economic performance.
The survey indicates a 2.68 percent economic growth rate for fiscal year 2024-25, showing an increase from 2.51 percent in the previous year. The country's economic size has expanded to $411 billion, up from $372 billion. Consequently, the per capita income for Pakistanis reached $1,824 annually, rising from $1,680.
Breaking down sectoral performance, agricultural growth for FY2024-25 is noted at 6.4 percent. The industrial sector recorded a growth of 4.7 percent, a notable jump from 1.37 percent last year. Large-scale manufacturing saw a 1.53 percent growth, while the construction sector demonstrated significant progress at 6.61 percent.
On the fiscal front, the budget deficit from July to March stood at 2.4 percent of the economy, a reduction from 3.7 percent in the same period last year. Exports from July to April increased by 7.6 percent to $26.89 billion. However, the trade deficit for the 10-month period widened to $21.3 billion, up from $19.6 billion last fiscal year.
The report also highlights mixed trends in production: petroleum product sales increased, and car and tractor manufacturing saw boosts. However, there are concerns in agriculture, with wheat production declining by 9.8 percent (from 31.8 million tons to 28.9 million tons) and rice production by 1.3 percent (from 9.86 million tons to 9.72 million tons).
