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ISLAMABAD, May 25 (APP): Following are the highlights of

Pakistan Economic Survey for the year 2016-17 unveiled by Minister


of Finance Muhammad Ishaq Dar here on Thursday.

Countrys overall economic growth rate recorded highest 5.28 per


cent in nine years, while last year it was 4.51 per cent.
The agriculture sector accounts for 19.53 per cent of GDP and
42.3 per cent of employment.
Agricultural sector recorded a positive growth of 3.46 per cent
against the growth of 0.27 per cent last year.
Cotton Ginning witnessed growth of 5.59 per cent against the
negative growth of 22.12 per cent in previous year.
Livestock growth was recorded at 3.43 per cent against 3.36 per
cent las year.
Growth of forestry sub-sector increased by 14.49 per cent as
compared to growth of 14.31 per cent last year.
Fisheries sector registered a growth of 1.23 per cent compared to
growth of 3.25 per cent.
Industrial sector growth recorded 5.05 per cent in outgoing fiscal
year as compared to 5.8 per cent last year.
Growth of overall Manufacturing is registered at 5.27 per cent
compared to 3.66 per cent last year.
Large Scale Manufacturing growth improved to 4.93 per cent from
2.94 per cent last year.
The construction sector has registered a growth of 9.05 per cent
against the growth of 14.6 per cent last year.
Mining and quarrying sub-sector witnessed a growth of 1.34 per
cent against the growth of 6.86 per cent last year.
Electricity generation and distribution and gas distribution
registered growth of 3.4 per cent against 8.43 per cent last year.

Economic growth rate registered 5.28 per cent against 4.51 per
cent which is the highest in 9 years.
The total volume of GDP has crossed $300 billion.
Agriculture sector growth improved to 3.46 per cent against 0.27
per cent last year.
Gross Public Debt Ratio improved to 59.3 per cent to GDP from 60.2
per cent to GDP last year.
Policy rate remained at 5.75 per cent which is lowest rate in 45
years.
Pakistan Stock Exchange has been ranked the fifth best performing
stock market in the world in 2016.
CPI based inflation rate averaged 4.1 per cent
Manufacturing sector growth registered 5.27 percent compared to
5.8 per cent last year.
FBR tax collection increased from Rs 2,590 billion in FY15 to Rs
3,112 billion in FY16.
Fiscal deficit narrowed to 4.6 per cent in FY16 from 8.8 per cent
in FY13.
Per capita income increased to $1629 from $1333 last year.

Education enrolment estimated to reach 47.834 million by end 2016-


17.
Currently there are 1,201 hospitals, 5,802 dispensaries and 5,518
basic health units as compared to 1,171 hospitals, 5,695 dispensary
and 5,478 basic health units last year.
During July-March (2016-17), installed capacity increased to 25.1
million MW from 22.9 million MW during same period of last year.
Current expenditures during July-March (2016-17) stood at Rs
4,383.6 billion against Rs 3,971.3 billion during same period of
last year.
Expenditures on pro-poor sectors increased to Rs 2,694.7 billion during 2015-
16, which was 9.3 per cent of GDP.
Services sector witnessed growth of 5.98 per cent against 5.55
per cent last year.
Total investment recorded growth of 11 per cent.
Total investment increased to Rs 5,027 billion in FY17 from Rs
4,527 billion in FY16.
National Savings remained at 13.1 per cent of GDP in FY17 against
14.3 per cent in FY16.
FDI posted growth of 12.75 per cent during July-Apr, in FY2017.
Wheat production increased to 25,750 thousands tons in 2016-17 as
compared to 25,633 thousands tons in last year.
Rice production increased by 0.7 per cent, sugarcane 12.4 per cent
and maize production 16.3 percent during FY 2016-17.
1. GDP growth crossed the 5% mark for the first time in 10 years to close the year at 5.28%.
2. Pakistans economy is now worth more than USD 300bn.
3. Key growth sectors: Services 5.98%, Industrials 5.02% and Agriculture 3.46%.
4. Services now contribute 60% to GDP (previously 58%) while agriculture contributes 20%.
5. Major crops underwent a growth of 3.46%.
6. The cotton ginning sector depicted a growth of 5.59%. Cotton bales supply during the period remained
at 10.7mn bales.
7. Sugar cane production during the year was set at 73.61mn tons.
8. Agriculture credit to reach a massive PKR 700bn.
9. Consumer Price Index (CPI) remained below the expected 6% to clock-in at 4.09%. Dissection
revealed Food price inflation remained at 3.86%, whereas prices of non-food items surged by 4.25% in
10MFY17.
10. Fiscal deficit to arrive at 4.2% in FY17 with total revenue at PKR 4,172bn.
11. The same however, cannot be said for trade deficit which was targeted at PKR 20.4bn; actual deficit
swelled to PKR 24bn in the period.
12. Remittances for the outgoing year are projected at USD 19.5bn, while Foreign Direct Investment
(FDI) is expected to reach USD 2.58bn in FY17.
13. Current account deficit is expected to reach USD 8.3bn by the end of this year.
14. Imports by end of the current year should peak to USD 45.48bn with imports of machinery depicting a
growth of 40% YoY (in particular, imports of machinery for Power and agriculture escalated by 70% and
37% YoY, respectively).
15. While exports are expected to reach ~USD 22bn in FY17.
16. Forex reserves have cooled down slightly to USD 21bn.
17. Pertinently, income per capita has reached USD 1,629.
18. That said, GDP growth target for next year set at 6%.
19. Industrial sector contributed 20.88 percent in GDP. This year it recorded a growth of
5.02 percent as compared to 5.80 percent last year.