Pakistan Economic Growth (2000-2010)

Topics: Industry, National accounts, Economy Pages: 8 (2428 words) Published: November 14, 2011
Pakistan Economic Growth (2000-2010)

A: Agriculture:
“Agriculture growth rate over the last seven years:
Table 1.1: Agriculture Growth (Percent)

Year Agriculture Major Crops Minor Crops Livestock Fishery Forestry 2003‐04 2.4 1.7 3.9 2.9 2.0 ‐3.2 2004‐05 6.5 17.7 1.5 2.3 0.6 ‐32.4 2005‐06 6.3 ‐3.9 0.4 15.8 20.8 ‐1.1 2006‐07 4.1 7.7 ‐1.0 2.8 15.4 ‐5.1 2007‐08 1.0 ‐6.4 10.9 4.2 9.2 ‐13.0 2008‐09 4.0 7.3 ‐1.7 3.5 2.3 ‐3.0 2009‐10 (P) 2.0 ‐0.2 ‐1.2 4.1 1.4 2.2 P= Provisional Source: Federal Bureau of Statistics

The average growth rate of agriculture is 3.7 per year in the last seven years. The high sector instability causes the variation between 6.5 percent to 1.0 percent. Major crops contribute in the overall agriculture growth rate dependently. The agriculture growth variation, since 2003-04, is shown in the above table 1.1.

Major crops:
The major crops cover the 32.8 percent of agriculture growth rate. In 2005-06, 2007-08 and 2009-10 the major crops growth rate is negative but in 2003-04, 2004-05, 2006-07 and in 2008-09 the growth rate was positive. The growth rate of major crops is -2.0 against the 7.3 of the last year. Minor crops:

Minor crops cover 11.1 percent of agriculture growth rate. The last two years in 2008-09 and 2009-10 it was -1.7 and -1.2. The overall productions of minor crops declined through these years accept 2007-08, which cause the food price inflation. Livestock:

The Livestock is the single largest donor which gives 53.2 percent to overall agriculture growth rate. The overall growth rate of Livestock is not good in the last years accept 2009-10 which grew by 4.1 percent in against 3.5 percent last year. Fishery:

The agriculture also depends upon Fishery sector. The Fishery growth rate was good in 2005-06 and 2006-07 and after that the growth rate of Fishery is decreasing continuously till now. Forestry:
Forestry is also an important fuel of agriculture. The forestry overall growth rate is negative especially in 2004-05. In this year the rate was -32.4 percent by huge deforestation but the rate of this year is positive of 2.2 percent against last year of -3.0. The overall performance of agriculture sector growth rate was weaker of 2.0 percent than estimated 4.0 percent.” (1)

B: Industry:
“Pakistan’s economy is semi-industrialized which covers 24.3 percent of the total GDP. The country’s industrial sector constitutes 24.3% of the country’s gross domestic product. Pakistan has 55.88 million of the total labor force according to 2009 survey. The Pakistan industrial growth rate in 2004 and 2006 although there was shortage of electricity and other terrorism situation in the country. Only 2.5 percent of the total GDP is constituted by the foreign investment. The major industry sectors of Pakistan are as follow:

Textiles: Pakistan has vast textile industry due to the major production of cotton. It provides the 40 percent employment to labor force of the country and 6.2 million people employing directly and indirectly. The textile earns 65% foreign exchange of the total exports of the country. The textile export is one of the major exports of Pakistan which was $10.5 billion in 2007 and expected to reach $14 billion this year. Mining: Pakistan has a...

References: 1.
(By Jamshed Ahmed, Student at Forman Christian College Lahore, Pakistan (2009-2013)):-
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