Positive growth trajectory of Pakistan's Per Capita GDP
Business
Despite facing external pressures, Pakistan’s economy has shown resilience
ISLAMABAD (Web Desk) - Pakistan has seen significant progress in its per capita GDP, reaching $1,680 in FY2024, with projections for FY2025 predicting further growth to $2,405, highlighting the nation's economic recovery and resilience despite challenges.
Islamabad’s per capita GDP stood at $2,996, surpassing several regional benchmarks, including India’s national average of $2,106.
Punjab also showed positive progress, with its per capita income of $1,713.60 exceeding the national average by 2%, further contributing to the nation’s growing economic health.
Sindh has also emerged as a strong performer, with a per capita income of $1,748. Meanwhile, Khyber Pakhtunkhwa (KPK) and Balochistan have reported $1,388.41 and $1,106 per capita incomes, respectively, which signified steady economic progress across these provinces.
Gilgit-Baltistan and Azad Jammu and Kashmir also recorded noteworthy per capita incomes of $1,550 and $1,730, reflecting the government’s focus on balanced regional development.
In contrast, India’s regional disparities revealed significant inequalities. While southern states reported a per capita income of $3,421, northern regions, particularly those under the influence of Hindutva politics, reported much lower figures, with only $813.
India also grapples with severe poverty, with 234 million people living below the poverty line, according to the UNDP and Oxford Poverty and Human Development Initiative. Additionally, youth unemployment in India has reached alarming levels, climbing from 35.2% to 65.7%, as reported by the International Labour Organisation.
Despite facing external pressures, Pakistan’s economy has shown resilience, enduring a $150 billion loss over two decades due to foreign-sponsored terrorism, compounded by the burden of hosting 4 to 5 million Afghan refugees. Nonetheless, Pakistan's commitment to stability and sustainable growth continues to shine through.
Pakistan’s focus on sustainable and inclusive growth presents a clear roadmap for transforming current challenges into future opportunities, paving the way for long-term prosperity.
