Pakistan's Economic System?
What is the name of Pakistan's economic system? I can't find it anywhere! HELP!
- 1 decade agoFavorite Answer
Pakistan has a nationalized service oriented economy. They are making the move towards privitization of normal goods production. I'm not sure if that is the answer you are looking for, so I'll include everything.
The growth of non-agricultural sectors has changed the structure of the economy, and agriculture now only accounts for roughly 20% of the GDP. The service sector accounts for 53% of the country's GDP with wholesale and retail trade forming 30% of this sector. In recent times, the Karachi Stock Exchange has soared, along with most of the world's emerging markets. Large amounts of foreign investments have been made into several industries. The top industries in Pakistan are telecom, software, automotives, textiles, cement, fertilizer, steel, ship building, and more recently, Aerospace.
Pakistan's gross domestic product, as measured by purchasing power parity (PPP), is estimated to be US$475.4 billion while its per capita income (PCI) stands at $2,976. Despite clear progress, reports by the Asian Development Bank, the World Bank and the UN Development Program place the poverty rate in Pakistan between 23% – 28%Source(s): http://en.wikipedia.org/wiki/Pakistan