Pakistan’s economy showed stronger-than-expected growth in the last fiscal year as the government revised the GDP rate for FY2024–25 upward to 3.04%, compared to the earlier estimate of 2.68%, official data revealed on Wednesday.
According to figures approved by the National Accounts Committee (NAC) in its 114th meeting, the country’s economy recorded a 5.66% growth in the fourth quarter (April–June) — the highest in any quarter of the fiscal year. This surge pushed the overall GDP growth to 3.04%, reflecting a gradual economic recovery.
The revised estimates also show that Pakistan’s economic size has reached $407.2 billion, while per capita income climbed to $1,812.
During the quarter, the industrial sector demonstrated remarkable improvement with a 19.95% growth, driven by strong performances in large-scale manufacturing, mining, and an exceptional 121% rise in the electricity, gas, and water supply sector — attributed to government subsidies, a lower deflator, and last year’s weak base effect.
The services sector also posted a solid growth of 3.72%, while agriculture contributed modestly at 0.18%. Within agriculture, mixed results were observed — major crops declined by 17.55%, but other crops, livestock, forestry, and fishing showed steady expansion.
The NAC also revised the growth rates for the first three quarters: 1.80% for Q1, 1.94% for Q2, and 2.79% for Q3, indicating consistent upward momentum.
For FY2024, the committee adjusted the annual growth to 2.58%, up slightly from 2.51%, driven by improvements in the industrial and services sectors.
Economic experts believe the revised data reflects a phase of stabilization and modest recovery, though challenges like inflation, external debt, and fiscal pressures remain key hurdles for sustained growth.
