By Mati Ullah Khan
The economic development is a wider concept: a process that seeks to improve the economic well-being and quality of life for a community.
However, the following indicators which are widely used to measure economic development reflects the economic development in the Country during the years 2008 to 2023;
Details of economic development in the Country during the said period;
Year | GDP Growth (%) | GDP (mp) (US billion) | GDP Per Capital (US$) | Export (US$ billion) | Import (US$ billion) | Remittances (US$ billion) |
| 2008 | 5 | 170.0 | 1053 | 20.4 | 35.3 | 6.5 |
| 2009 | 0.4 | 168.1 | 1026 | 19.1 | 31.7 | 7.8 |
| 2010 | 2.6 | 177.4 | 1072 | 19.7 | 31.1 | 8.9 |
| 2011 | 3.6 | 213.7 | 1274 | 25.4 | 35.8 | 11.2 |
| 2012 | 3.8 | 224.7 | 1321 | 24.7 | 40.4 | 13.2 |
| 2013 | 3.7 | 231.4 | 1334 | 24.8 | 40.2 | 13.9 |
| 2014 | 4.1 | 244.7 | 1389 | 25.1 | 41.7 | 15.8 |
| 2015 | 4.1 | 270.9 | 1514 | 24.1 | 41.4 | 18.7 |
| 2016 | 4.6 | 313.9 | 1640 | 21.9 | 41.1 | 19.9 |
| 2017 | 4.6 | 339.6 | 1723 | 22 | 48 | 19.4 |
| 2018 | 6.1 | 356.8 | 1768 | 24.8 | 55.7 | 19.9 |
| 2019 | 3.1 | 321.8 | 1578 | 24.3 | 51.9 | 21.7 |
| 2020 | -0.9 | 300.8 | 1458 | 22.5 | 43.6 | 23.1 |
| 2021 | 5.7 | 348.7 | 1676 | 25.6 | 54.3 | 29.4 |
| 2022 | 6 | 383.8 | 1798 | 32.5 | 72.2 | 31.3 |
Also Read: Economic Performance of PPP, PML-N & PTI since 2008
Also Read: Who put Pakistan on the verge of default?
Year | FBR Tax Collection (Rs billion) | Unemployment Rate (%) | Literary Rate |
| 2008 | 1008 | 5.2 | 56 |
| 2009 | 1161 | – | 57 |
| 2010 | 1327 | – | – |
| 2011 | 1558 | 6 | 58 |
| 2012 | 1883 | 6 | 58 |
| 2013 | 1946 | – | 60 |
| 2014 | 2255 | 6 | 58 |
| 2015 | 2590 | – | 60 |
| 58 | 3113 | – | 58 |
| 2017 | 3368 | – | – |
| 2018 | 3844 | – | – |
| 2019 | 3829 | 6.9 | 60 |
| 2020 | 3998 | – | – |
| 2021 | 4745 | 6.3 | 62.8 |
| 2022 | 6148 | – | – |
Note: The missing data for unemployment and literacy rate is not available due to nonpublication of Labour Force Survey and Pakistan Social And Living Standards Measurement Survey (PSLM) by the Pakistan Bureau of Statistics (PBS) in specified years.
Number of times Pakistan approached IMF from 2008 to date;
From 2008 to date, the government reached out to the International Monetary Fund (IMF) for four times including financial assistance for COVID-19 pandemic.
The detail is as below:
- Extended Fund Facility (EFF), currently ongoing was entered in July 2019 and will expire on June 2023. The total amount under the program is about US$ 6.5 billion.
- Rapid Financing Instrument was availed for COVID-19 pandemic in April 2020. The amount availed was about US$ 1.386 billion.
- Extended Fund Facility from September 2013 to September 2016 was about US$ 6.15 billion
- Standby Arrangement from November 2008 to September 2011 was about US$7.61 billion.
Note: The above data was shared with the National Assembly by the Finance Minister Ishaq Dar on March 27, 2023.
