Pakistan’s GDP growth remained 5.37% in 2021-21, 2nd highest in 14 years

BusinessPakistan's GDP growth remained 5.37% in 2021-21, 2nd highest in 14 years

ISLAMABAD, Pakistan: Pakistan’s GDP growth remained 5.37% in the Fiscal Year (FY) 2021-21, the 2nd highest growth in the last 14 years.

In a Twitter statement on Thursday, the Federal Minister for Planning, Development and Special Initiatives Asad Umar told that the National Accounts Committee (NAC) has approved the revised estimate of Gross Domestic Product (GDP) growth for the FY 2020-21 and it was recorded at 5.37%.

“The growth in 2020-21 was 5.37%. This is the 2nd highest growth in last 14 years,” Asad Umar wrote.

The minister said that the higher growth versus the provisional estimates, which were based on July-March numbers, was mainly due to very strong industrial growth in April-June.

Meanwhile, according to the sources, the final data has been calculated using the industrial, agricultural, and services output for the Fiscal Year ended on June 31, 2021.

They said that according to the data, the Country’s GDP per capita increased to US$ 1,666 while the overall GDP remained US$ 346.76 billion, the highest ever.

Meanwhile, Pakistan has been ranked number two in the world in the global normalcy index of the Economist that measured recovery and opening up of society and economy post-COVID-19.

Sharing index report in a tweet, Asad Umar said Pakistan was third in the first evaluation and number one in the second.

The minister said that Pakistan is the only Country in the world to be among the top three in all three rankings.

Must read

Recent News

Moscow says it won’t allow US to silence UNSC on Israeli violence against Palestinians Monitoring Desk: Russian envoy in United Nations Vasily Nebenzya said that the UN Security Council should bring peace, stability and prosperity to the Middle East and Russia would not allow United States to silence UNSC over the issue of Gaza crisis. According to TASS news Agency, Nebenzya said that Moscow will continue to call for an end to violence against Palestinians and will not allow the US to muzzle the UN Security Council as Washington seeks to support Israel's operation in Gaza. "We will continue to stand firmly for ending violence against the Palestinians. Without a shadow of a doubt, we will continue to expose the abuses and sanctimony with which the US is handling the situation. We will not allow the Americans to gag the entire council with their hands in an effort to encourage further continuation of Israel's ruthless operation," he said in a speech at the Security Council.

Moscow won’t allow the US to silence the UNSC on Israeli violence against Palestinians

0
Monitoring Desk: Russian envoy to the United Nations Vasily Nebenzya said that the UN Security Council should bring peace, stability, and prosperity to the...

From Valdai to Margalla Dialogue —- All roads to Civilisations go through Islamabad

0
By Shazia Anwer CheemaThe emergent realities of global security are fundamentally transforming the frame of references and trajectorial approaches toward them. New security architecture...

12 more men in uniform embraced martyrdom for the motherland in Pakistan

0
Monitoring Desk: 12 more men in uniform embraced martyrdom for the motherland in Pakistan, said Inter Service Public Relations (ISPR) of the Pakistan Army.On...
Dr. Attia Anwar

Lifelong learning

0
By Dr. Attia AnwarAs we age, our minds and mental health become more important. We should try to maintain and improve them. Education is...
12th Defense Expo 'Ideas 2024' 'Weapons for Peace' a major step in defense diplomacy

12th Defense Expo ‘Ideas 2024’ ‘Weapons for Peace’ a major step in defense diplomacy

0
By Asghar Ali MubarakIdeas 2024, the global exhibition of defense equipment, will begin today at the Karachi Expo Center on November 19, in which...
Advertisement