Pakistan is currently undergoing a process of economic liberalization, including the privatization of all government corporations, which is aimed at attracting foreign investment and decreasing budget deficits. Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit-driven by a widening trade gap as import growth outstrips export expansion-could draw down reserves and dampen GDP growth in the medium term. The Pakistani economy has suffered in the past from internal political turmoil, a rapidly growing population, and mixed levels of foreign investment. The growth poles of Pakistan's economy are situated along the Indus River the diversified economies of Karachi and major urban centres in Punjab, co-existing with lesser developed areas in other parts of the country. Primary export commodities include textiles, leather goods, sports equipment, chemicals, and carpets/rugs. Pakistan is a developing country with a semi-industrial economy. According to 2021 estimate, Country has population of 227 million people ( 5th-largest worldwide), the nominal GDP of Pakistan stands at US$347 billion with a nominal GDP per capita of US$1,562 (160th worldwide) its GDP based on PPP stands at US$1.329 trillion with a GDP (PPP) per capita of US$5,973 (140th worldwide). It is the 24th-largest worldwide in terms of GDP based on purchasing power parity (PPP). The economy of Pakistan is a low income developing economy. All values, unless otherwise stated, are in US dollars.
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