Pakistan Economy - Rebased and revised GDPg at 5.57% for FY21

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.