Prime Minister Imran Khan has effectively led Pakistan through multiple crises in the last 4 years. Khan inherited dangerously low forex reserves in 2018 which are now at $23 billion, near the highest level in the nation's history. The COVID pandemic that hampered Pakistan's recovery has been handled well with the fully vaccinated rate for the eligible population at more than 75%. Not only has Khan deftly navigated his nation through these crises but his government has also revived the country's economy and grown exports by 26%. Domestic savings rate recovered to nearly 17% after plunging to a low of 12% in 2018. The year 2021 was a banner year for Pakistan's technology startups that raised over $350 million in funding, more than the amount raised in the previous 5 years. Manufacturing and construction industries are enjoying a boom last seen during the Musharraf years in 2000-2007.
|Historic Inflation Rates in India & Pakistan. Source: World Bank
|Pakistan Exports in First 8 Months (July 21-Feb 22) in FY 22. Source: Razzak Dawood
|Pakistan Employment By Sectors. Source: Pakistan Bureau of Statistics
For the first time in recorded history, the labor force participation rate in Pakistan is now higher than in India, according to the ILO/World Bank estimates.
|Labor Participation Rates in India and Pakistan. Source: World Bank/ILO
|Unemployment Rate in India and Pakistan. Source: ILO/World Bank
|Pakistan Savings Rate. Source: Global Economy
|QIM Index 2019-22. Source: APP
|Pakistan Large Scale Manufacturing Index. Source: Mettis Global
|Cement shipments in Pakistan. Source: All Pakistan Cement Manufacturers Association
|Pakistan Startup Investments. Source: Aljazeera