Economic Survey of Pakistan is a document issued by the finance division of government of Pakistan. It is issued every year before the approval of budget for the next fiscal year. This post discusses the Economic Survey of Pakistan 2013-14. The fiscal year of 2013-14 was the first year of the new government of PML-N. Overall the economy strengthened as compared to the reports of last year. There have been contraction in the figures given by Government and in the international reports. The context of this post is to highlight and share the economic survey of Pakistan.
Salient features of Economic Survey of Pakistan
Following are some of the salient features of Economic Survey of Pakistan 2013-14.
Agriculture of Pakistan is the backbone of economy. It is practiced by a huge segment of population. Government subsidies are offered to farmers and growers. The agriculture sector showed mixed growth. The overall growth percentage remained at 2.1% as compared to last year (2.9%). The share of agriculture in GDP has been constantly decreasing over the last years. Now its share has reached to 21 % of GDP. Increase was seen in the productions of crops like wheat, rice, sugar cane and maize. Production of potato, gram, chilies and cotton decreased in this fiscal year.
The GDP growth stood at 4.1 percent showing as increase. Industrial sector contributes 20.8 percent to GDP. The largest share in GDP was of services sector. It contributed 58.1 % to the total GDP of Pakistan. Economic Survey of Pakistan 2013-14 showed that per capita income of people in Pakistan increased. It has reached to 1,386 dollars. Total investment in Pakistan for year 2013-14 was 3,554 Billion Rupees.
- Large scale manufacturing showed more growth as compared to last year.
- Stock market showed great improvement during the past fiscal year.
- Economic Survey of Pakistan shows an increase in inflation by one percent as compared to last year.
- A increase of 4.24 % was witnessed in exports. Total exports stood at 20.997 Billion dollars.
- Public debt stock increased by 8 %.
Latest figures for education has not been added. Last year survey on education shows literacy rate to be 60 percent. Economic Survey of Pakistan shows literacy in different provinces as follows.
Literacy rate in Punjab = 62%
Literacy rate in Sindh = 60%
Literacy rate in KPK = 52%
Literacy rate in Balochistan = 44%
Agricultural Education in Pakistan and its future prospects are also given.
Full information on Economic Survey of Pakistan can be found here. Remember that most of the chapters and introduction are not periodically upadted. Economic surveys mostly utilized past reports and data as well.