The Economy of Pakistan

The economy of Pakistan is the 47th-largest

worldwide in terms of nominal gross domestic

product, with $347 billion and a nominal GDP per

capita of $1,255, which stands at 181st worldwide.

Pakistan's Human Development Index is one of the

lowest in Asia, after Yemen and Afghanistan. Wealth

distribution in Pakistan is slightly varied, with the top

10% of the population earning 28.4% and the bottom

50% earning only 11.6% of the income.

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Pakistan's economy, like an airplane, has crashed 13 times in the last 60 years, each time requiring an International Monetary Fund bailout. It wasn't always so. During the 1970s, Pakistan's GDP per capita was richer than India, China, and Bangladesh, but in 1979, china took over Pakistan. Today Pakistan is the poorest. Its most recent gross domestic product growth estimate was only 3.9 percent, barely sufficient to keep pace with population growth, and Pakistan's federal government is nearly bankrupt.

So, how did Pakistan's economy end up here?