Eagle Line Group International
Pakistan is a South Asian country that was established in 1947. Its neighboring regions include India, Iran, Tajikistan, Afghanistan, and China. It is located along the Arabian Sea and has a coastline spanning 1,046-kilometre (650 mi). The mountain ranges of Karakoram and Pamir in the northern and western highlands of the country include K2 and Nanga Parbat which are counted among the highest peaks in the world. The major by-air gateways to Pakistan are Islamabad, Karachi and Lahore. It can also be reached by train from India and Iran. Pakistan’s main cities are Quetta, Gawadar, Peshawar, Sialkot, Multan and Faisalabad.
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An economy or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.
In the past, economic activity was theorized to be bounded by natural resources, labor, and capital. This view ignores the value of technology (automation, accelerator of process, reduction of cost functions), and creativity (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions), especially that which produces intellectual property.
A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. Some cultures create more productive economies and function better than others, creating higher value, or GDP.
ECONOMY OF PAKISTAN: 2012-13
- Economy of Pakistan
- Budget: 2012-2013
- Strategies of Economic
- Challenges: 2013
- How to Improve the Economy of Pakistan
Economy of Pakistan
The economy of Pakistan is the 27th largest in the world in terms of purchasing power parity (PPP), and 44th largest in terms of nominal GDP. However as Pakistan has a population of over 183 million (the world's 6th-largest), GDP per capita is low: the nation's 2012 PPP-adjusted GDP per capita of approximately US$2900 ranked 135th, 141st, or 147th in the world according to the International Monetary Fund, World Bank, and US Central Intelligence Agency respectively
Historically, Pakistan's overall economic output Gross domestic product (GDP) has grown every year since a 1951 recession. Despite this record of sustained growth, Pakistan's economy had, until a few years ago, been characterized as unstable and highly vulnerable to external and internal shocks. However, the economy proved to be unexpectedly resilient in the face of multiple adverse events concentrated into a four-year (1998–2002) period