What Is Economic Position Of Pakistan?

Pakistan is classified as a developing country with the sixth largest populated country of the world. Pakistan was a very poor country at the time of freedom and dependent highly on its agricultural sector. Economy of Pakistan has been much fluctuated. It has faced many crisis and there was a time when it was seen as an economic development model around the world.

Since Pakistan's overall economic growth ratio has grown every year after a recession of 1951. Despite of this fact Pakistan' economy has been characterized as unstable, low growth and very vulnerable to external as well as internal factors. The world bank of Pakistan categorize Pakistan as a low-income economy.

Pakistan's manufacturing sector face a double figure cut down in its growth rate in recent years. Stock market was considered one of the best stock market in 21st century. Rural poverty is still a pressure some issue. The high population growth has lead to increase unemployment.

Factors that adversely affected economy of Pakistan are Asian financial crisis, two wars with India, 9/11 military action in Afghanistan. Pakistan is also facing serious internal shocking factors like political war between parties, 2005 earthquake etc. despite this Pakistan economy kept growing. Due to rapid development in financial, telecommunication and IT sectors there is hope of Pakistan being the leading economy of the world.

          For the past couple of years, Pakistan has been rapidly growing in terms of country development. The country has been fighting the social problems of the society which includes poverty, over population and urbanization among many other problems. The economic condition of the country is quite stable and has been trying hard to pay off their debts.

           The United Nations has had a big hand in curbing problems like poverty. The per capita income of a person is increasing on a yearly basis. The country has built many dams which has also reduced the problem of water shortage. The exports have also exceeded the imports of the country and the country is generating a lot of foreign exchange.

          It is estimated that with a couple of years, the country will soon be on its way of under developed country if things go the way they are going.