Pakistan, a South Asian country, has been making significant strides in its economy and trade sector. In this section, we will delve into the latest statistics and projections for Pakistan's export rank, population, GDP, top exporting product, and top export trade partners in 2022.
According to the World Bank's data for 2021, Pakistan's export rank stands at 110 out of 189 countries. However, with the government's efforts towards promoting exports and improving trade policies, it is projected that Pakistan will improve its ranking to around 100 by the end of 2022.
Pakistan's current estimated population stands at around 225 million people and is expected to reach approximately 235 million by the year 2022. The country has seen steady population growth over the years due to high birth rates and improving healthcare facilities leading to longer life expectancy. In terms of GDP (Gross Domestic Product), which measures the total value of goods and services produced within a country's borders during a specific period, Pakistan is expected to see an increase of approximately $14 billion by 2022. This puts its GDP at around $305 billion for that year.
The textile industry remains one of Pakistan's primary sources of export revenue. Other notable products include rice, leather goods, sports goods, chemicals & pharmaceuticals. In line with global trends towards sustainability and renewable energy sources, there has been an increase in demand for Pakistani-made solar panels globally. Therefore it wouldn't be surprising if they make it onto the list of top exporting products by 2022.
China continues to be Pakistan's biggest trading partner accounting for nearly one-third of all exports from Pakistan. Additionally, the United States and several European countries are also significant contributors to Pakistani exports. With ongoing efforts to enhance trade relations with neighboring countries like India and Afghanistan, it is expected that Pakistan's export market will diversify further in 2022.
Pakistan's economy and trade sector are poised for growth in 2022. With an improved export rank, steady population growth, increasing GDP rates, and a diverse range of top exporting products and trade partners, the country is on track to continue its economic development journey. It is essential for the government to continue implementing effective policies and strategies to ensure sustainable and inclusive growth for all sectors of society.