ISLAMABAD: The federal government of Pakistan is set to unveil the Economic Survey of Pakistan 2022-23, a comprehensive document highlighting the major socio-economic achievements of the outgoing fiscal year, on Thursday. Finance Minister Ishaq Dar will chair the launching ceremony of the pre-budget document, as announced by the Finance Ministry.
The survey will provide in-depth details about the socio-economic developments, performance, and economic trends across various sectors of the Pakistani economy. These sectors include agriculture, manufacturing and industry, services, energy, information technology and telecom, capital markets, health, education, transport, and communication, among others.
Moreover, the survey will also present the annual trends of significant economic indicators, such as inflation, trade and payments, public debt, population, employment, climate change, and social protection. These details will help provide a comprehensive overview of Pakistan’s economic landscape during the specified period.
According to estimations made by the Planning Commission in the 106th meeting of the National Accounts Committee (NAC), the provisional growth rate of the gross domestic product (GDP) for the year 2022-23 is estimated at 0.29%. The agricultural sector is projected to grow by 1.55%, while the industrial sector is estimated to decline by -2.94%. The services sector is expected to show a slow growth rate of 0.86%.
Pakistan’s Agriculture and Industrial Sector
In the agriculture sector, there has been a decline in the production of cotton by 41% and rice by 21.5%. However, positive growth has been observed in wheat, sugarcane, and maize production. The industrial sector has experienced negative growth, primarily due to a decline in the production of natural gas and crude oil. Large-scale manufacturing has also shown a negative growth rate, while the electricity, gas, and water industries have displayed positive growth.
The services sector has witnessed slow growth, with mixed trends within various industries. Wholesale and retail trade have declined, whereas education, human health, and social work activities have shown positive growth, largely driven by public sector expenditure.
The Economic Survey of Pakistan 2022-23 will provide a comprehensive analysis of the country’s economic performance, serving as a valuable resource for policymakers and analysts.
