Salient Features of Pakistan Economic Survey 2021-22

Here, you will have the Salient Features of the Pakistan Economic Survey 2021-22.

• For FY22, provisional GDP growth has been estimated at 5.97%.
• The agriculture sector posted growth of 4.4% mainly due to 6.6% growth in crops and 3.3% growth in livestock.
• The industrial sector recorded a growth of 7.2% in FY22 compared to 7.8% growth in FY21.
• The services sector grew by 6.19% during the outgoing fiscal year.
• LSM (July-March FY22) posted a growth of 10.4% (4.2% last year).
• Exports (July-May FY22) increased by 27.8% to $ 28.8 billion ($22.6 billion last year).
• Imports (July-May FY22) grew by 44.3% to $72.2 billion ($50 billion last year).
• The trade deficit (July-May FY22) increased to $43.3 billion (a deficit of $27.4 billion last year).
• Remittances (July-April FY22) increased by 7.6% to $26.1 billion ($24.3 billion last year).
• FDI (July-April FY22) decreased by 1.6 % to $1455.6 million ($1480 million last year).
• The current account deficit (Jul-Apr FY22), stood at $13.8 billion ($0.5 billion last year).
• Total liquid foreign reserves exchange reserves as of June 2, 2022 held by the country stood at $15.2 billion ($23.2 billion last year).
• Meanwhile, reserves held by the State Bank of Pakistan (SBP) held $9.3 billion ($16 billion last year), and commercial banks $6 billion ($7.2 billion last year).
• Based on the consumer price index (Jul-May FY22), inflation was recorded at 11.3% (8.8% last year).
• Federal Board of Revenue (FBR) tax collection (Jul-May FY22) grew by 28.4% to Rs5348.2 billion (Rs4164.3 billion last year).
• The fiscal deficit (July-April FY22) was recorded at 4.9% of GDP (Rs3,275 billion) against 3.6% of GDP (Rs2,020 billion last year).
• The primary balance (Jul-April FY22) posted a deficit of Rs890 billion (a surplus of Rs159 billion last year).
• Private sector credit increased to Rs1,312.9 billion from July 1 to April 29, FY22 against Rs454.4 billion last year.