The National Accounts Committee (NAC), in its 104th meeting, reviewed the change of base of National Accounts from 2005-06 to 2015-16. With this revision, the final estimates of GDP growth of FY21 came out to be 5.57% (provisional: 5.37%). This number—especially the quantum of rate of growth during trying times—is striking, part of an impressive growth performance that gov’t projects to continue in the medium term. A few key areas mentioned in the NAC’s press release are as follows:
The committee reviewed and approved the rebased series from 2015-16 to 2020-21 on the prices of 2015-16.
- Revised GDP growth rates at Constant Prices on new base of 2015-16 stand at 5.57% (old base: 5.37%)
- Revised sectoral growth rates are:
- Agriculture: 3.48% (provisional est.: 2.77%)
- Industrial: 7.79% (provisional est.: 3.57%)
- Services: 5.70% (provisional est.: 4.43%)
- The GDP at market prices increased to PKR 55.5trn in FY21 while Gross National Income increased to PKR 59.3trn with the rebasing of numbers.
- During FY21, the Per Capita Income increased to PKR 266,614 and in USD 1,666.
- In dollar terms, the size of the economy reached to USD 346.76bn.
Courtesy – AHL Research