Baskadia

Pakistan's Economy

Pakistan is a developing country with a mixed economy. The country has a population of over 200 million people, making it the world's fifth most populous country. According to the World Bank, Pakistan has a Gross Domestic Product (GDP) of approximately $305 billion as of 2020, making it the 39th largest economy in the world.

Pakistan's economy is largely based on agriculture, which contributes around 20% to the country's GDP and employs around 42% of the workforce. The country is also rich in natural resources such as coal, oil, gas, and minerals, but the mining industry is underdeveloped.

The manufacturing sector, which includes textiles, food processing, and pharmaceuticals, contributes around 14% to the country's GDP. Pakistan's services sector, which includes finance, telecommunications, and tourism, accounts for around 60% of the country's GDP.

Pakistan faces several economic challenges, including a large population, low levels of literacy, and high levels of poverty. The country also suffers from frequent power outages, inadequate infrastructure, and a high inflation rate. However, in recent years, Pakistan has made progress in improving its economic situation, with GDP growth rates averaging around 4% per year.