Finance ministry has launched ‘75 years Economic Journey of Pakistan’ to commemorate 75th Independence day of the country, highlighting how GDP, exports, per capita income and tax revenues increased during the period.
Sharing details of the economy during the period of 75 years since independence, the finance ministry shared that the nominal GDP rose from US$3 billion to US$383 billion from 1950-2022 while GDP growth boosted from 1.8 percent in 1950 to 5.97 percent in 2022.
It shared that per capita income rose from US$86 in 1950 to US$1,798 in 2022. “Exports rose from $163.9 mn to $32.5 bn from 1950-2022,” it shared, adding that tax revenues rose from Rs0.31 billion to Rs6126.1 billion.
The finance ministry while highlighting the economic journey said that agriculture accounted for 59.9 percent of the total GDP in 1949-50 and green revolution started during the early 1960s. “At the time of independence, Pakistan inherited only 34 industrial units out of 921 industrial units.”