Pakistan’s economy posted a provisional growth rate of 2.68 percent for the fiscal year 2024-25, according to the 113th meeting of the National Accounts Committee (NAC) held in Islamabad on May 20, 2025. The committee, chaired by the Secretary of the Ministry of Planning, Development, and Special Initiatives, approved updated quarterly and annual GDP estimates, reflecting a cautiously optimistic outlook for the country’s economic trajectory.
The NAC revised the first and second quarter GDP growth rates for 2024-25 to 1.37 percent and 1.53 percent, respectively, while the third quarter showed a provisional growth of 2.40 percent. The size of Pakistan’s economy has now reached $411 billion, with per capita income standing at $1,824.
For the previous years, the committee finalized the annual GDP growth rate for 2022-23 at -0.21 percent and revised the 2023-24 figure to 2.51 percent. The latest estimates for 2024-25 show agriculture growing by 0.56 percent, industry by 4.77 percent, and services by 2.91 percent.
The agriculture sector’s performance was mixed, with important crops declining by 13.49 percent due to lower production of wheat, maize, rice, sugarcane, and cotton. However, other crops such as potatoes, onions, mangoes, and sesame saw double-digit growth. Livestock, forestry, and fishing also contributed positively.
Industry showed a provisional growth of 4.77 percent, buoyed by a significant rebound in electricity, gas, and water supply (up 28.88 percent) and a 6.61 percent increase in construction. However, mining and quarrying contracted by 3.38 percent, and large-scale manufacturing declined by 1.53 percent, with mixed trends across sub-sectors.
The services sector grew by 2.91 percent, with all components contributing positively. Notable gains were seen in information and communication (6.48 percent), finance and insurance (3.22 percent), public administration and social security (9.92 percent), education (4.43 percent), and health and social work (3.71 percent).
The NAC also noted that the overall size of the economy now stands at Rs. 114.7 trillion, up from Rs. 105.1 trillion last year. The forum commended the efforts of the Pakistan Bureau of Statistics and other stakeholders for their work in compiling the national accounts and providing a comprehensive picture of the country’s economic health.
