ISLAMABAD: The government has revised Pakistan’s GDP growth rate for the fiscal year (FY25) to 3.04%, up from the earlier provisional estimate of 2.68%, The News reported.
According to updated data, the economy recorded a robust 5.66% growth in the fourth quarter (April–June), which lifted the overall annual rate to 3.04%.The country’s economic size now stands at $407.2 billion, while per capita income has risen to $1,812. The revised figures were approved during the 114th meeting of the National Accounts Committee (NAC) held in Islamabad on Wednesday.
The committee approved the revised quarterly GDP growth rates for Q1, Q2, and Q3 and the fresh growth of Q4 during FY2024-25. Overall GDP witnessed upward revisions in the first three quarters from 1.37% to 1.80% for Q1, from 1.53% to 1.94% for Q2, and from 2.40% to 2.79% for Q3.
The economy has posted a stable growth of 5.66% during Q4 of FY2025. The growth in agriculture, industry, and services stands at +0.18%, +19.95% and +3.72%, respectively.
In agriculture, although important crops have declined by -17.55%, other crops have grown by +17.99% on account of double-digit growth in production of green fodder (14.2%), onion (12.6%), and mangoes (26.4%). Livestock (1.44%), forestry (3.60%), and fishing (2.23%) have also registered positive growth rates during Q4 of FY2025.
Contrary to the first three quarters, the industry has posted a healthy growth of +19.95% as compared to -3.06% during the same period last year.
Although all the constituents of industry have contributed positively, for example, to mining and quarrying (+1.94%), large-scale manufacturing (+2.96%), the electricity, gas and water supply industry has posted an overwhelming growth of +121.38% due to higher subsidies, decline in deflator, as well as low base effect of -31.59%.
The committee approved the updated annual growth of 2.58% for FY2024, which was estimated at 2.51% in the previous meeting.
In the updated estimates, while agriculture has remained at the same level, that is, 6.40%, the industry has improved from -1.37% to -1.19% mainly because of an upward revision in electricity, gas, and water supply from -19.86% to -19.10%.
Services have also improved from 2.19% to 2.25% mainly because of improvement in the transportation and storage industry (1.65% vs. 1.51%).
The committee also approved the updated annual growth of GDP at 3.04% during FY2025, which was estimated at 2.68% during the previous meeting.
