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The trade deficit for the fiscal year 2013/14 is $7.743 billion, exports are $10.367 billion in July–November 2013 and imports are $18.110 billion. Pakistan's exports continue to be dominated by manpower export in the subcontinent, cotton textiles and apparel. Imports include petroleum and petroleum products, chemicals, fertilizer, capital ...
The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according ...
It is the largest Manufacturing Industry in Pakistan. Export of $3.5 billion (6.5% of total exported cotton in world) in 2017-2018. Pakistan is the eighth largest exporter of textile commodities in Asia. Contribution in economy is equal to approx. 8.5% of total GDP. Textile Sector employs about 45% of the total Labor force in the country.
Industry of Pakistan. Pakistan's industrial sector (in FY21) accounts for 28.11% of the GDP. Of this, manufacturing makes up 12.52%, mining constitutes 2.18%, construction makes up 2.05%, and electricity and gas 1.36%. The majority of industry is made up of textile units, with textiles contributing $15.4b to exports, making up 56% of total exports.
1 January 2020. Phase two intended conclusion. 2024. The China–Pakistan Free Trade Agreement (CPFTA) is a free trade agreement (FTA) between the People's Republic of China and the Islamic Republic of Pakistan that seeks to increase trade and strengthen the partnership between the two countries. [1] [2]
The cotton and textile industries play a dominant role in exports; cotton accounts for 55 percent of the country's export earnings, and Pakistan has a 14% share of the world's cloth exports. The European Union (EU) granted Generalized System of Preferences "Plus" status to Pakistan in 2013, which has promoted textile exports to the EU.
In 2011, Pakistan's exports of stones, marble, granites to China doubled due to effective marketing strategies developed by TDAP. On a regular basis, TDAP facilitates and encourages Pakistani business community to exhibit their products at all major trade shows in Pakistan including at Karachi Expo Centre and Lahore Expo Center.
Despite these challenges, Pakistan is actively working to expand its defense exports. The country aims to achieve this by focusing on several key areas: enhancing the technological sophistication of its products, exploring new markets in Southeast Asia and beyond, and forging strategic partnerships to bolster its production capabilities.