5, Islamabad
mailing address:
P. O. Box 1048, PSC 1212, Box 2000, Unit 6220,Islamabad or APO AE
09812-2000
telephone:
[92] (51) 826161 through 79
FAX:
[92] (51) 214222
consulate(s) general:
Karachi, Lahore
consulate(s):
Peshawar
Flag:
green with a vertical white band (symbolizing the role of religious
minorities) on the hoist side; a large white crescent and star are
centered in the green field; the crescent, star, and color green are
traditional symbols of Islam

@Pakistan, Economy

Overview:
Pakistan is a poor Third World country faced with the usual problems
of rapidly increasing population, sizable government deficits, and
heavy dependence on foreign aid. In addition, the economy must support
a large military establishment. Rapid economic growth, averaging 5%-6%
over the past decade has helped Pakistan cope with these problems.
However, growth slumped to 3% in FY93 because of severe flooding,
which damaged the key export crop, cotton. Almost all agriculture and
small-scale industry is in private hands. In 1990, Pakistan embarked
on a sweeping economic liberalization program to boost foreign and
domestic private investment and lower foreign aid dependence. The
SHARIF government denationalized several state-owned firms and
attracted some foreign investment. Pakistan likely will have
difficulty raising living standards because of its rapidly expanding
population. At the current rate of growth, population would double in
25 years.
National product:
GNP - purchasing power equivalent - $239 billion (1993 est.)
National product real growth rate:
3% (FY93 est.)
National product per capita:
$1,900 (1993 est.)
Inflation rate (consumer prices):
12.7% (FY91)
Unemployment rate:
10% (FY91 est.)
Budget:
revenues:
$9.4 billion
expenditures:
$10.9 billion, including capital expenditures of $3.1 billion (1993
est.)
Exports:
$6.8 billion (f.o.b., FY92)
commodities:
cotton, textiles, clothing, rice, leather, carpets
partners:
US, Japan, Hong Kong, Germany, UK
Imports:
$9.1 billion (f.o.b., FY92)
commodities:
petroleum, petroleum products, machinery, transportation equipment,
vegetable oils, animal fats, chemicals
partners:
Japan, US, Germany, UK, Saudi Arabia
External debt:
$24 billion (1993 est.)
Industrial production:
growth rate 7.3% (FY92); accounts for 23% of GDP
Electricity:
capacity:
10,000,000 kW
production: