Pakistan economy grows 3.04 percent in last fiscal year as industry, services outperform forecasts

Pakistan economy grows 3.04 percent in last fiscal year as industry, services outperform forecasts

ISLAMABAD: Pakistan posted a gross domestic product (GDP) growth of 3.04 percent in the last fiscal year (FY2025), the National Accounts Committee (NAC) said on Wednesday, revising its earlier estimate of 2.68 percent after stronger-than-expected performance in industry and services.

The updated figures, released after the committee’s 114th meeting, also showed quarter-on-quarter improvement, with growth recorded at 1.80 percent in Q1, 1.94 percent in Q2, 2.79 percent in Q3, and 5.66 percent in Q4 of FY2025.

“The committee ... approved the updated annual growth of GDP at 3.04 percent during FY2025, which was estimated at 2.68 percent during the previous meeting,” the NAC said in a statement released after the meeting. “The updated growth rates in agriculture, industry, and services are 1.51 percent, 5.26 percent, and 3.0 percent, respectively, as compared to earlier growth rates of 0.56 percent, 4.77 percent, and 2.91 percent.”

The NAC said the size of Pakistan’s economy now stands at Rs113.7 trillion ($407.2 billion), compared to Rs105.2 trillion ($371.8 billion) in the previous year.