Year GDP(billions) Nominal GDP Quantity Of Money

2019 $278.22
$294,356,760.00 16,200,800
2018 $314.57 $159,801,560.00 15,605,700
2017 $304.57 $124,569,130.00 14,393,600
2016 $278.65 $105,051,050.00 12,640,400
2015 $270.56 $68,451,680.00 11,282,144
2014 $244.36 $175,694,840.00 9,966,583
2013 $231.22 $177,808,180.00 8,856,364
2012 $224.38 $217,199,840.00 7,641,795
2011 $213.59 $254,599,280.00 6,695,194
2010 $177.17 $229,257,980.00 5,777,234
2009 $168.15 $229,524,750.00 5,137,219
2008 $170.08 $345,092,320.00 4,689,143
2007 $152.39 $115,816,400.00 4,065,155
2006 $137.26 $108,709,920.00 3,406,905
2005 $120.06 $108,774,360.00 2,960,645
2004 $107.76 $80,173,440.00 2,486,556
2003 $91.76 $26,702,160.00 2,078,705
2002 $79.90 $26,287,100.00 1,761,370
2001 $79.48 $25,036,200.00 1,526,044
2000 $82.02 $35,842,740.00 1,400,632
1999 $62.97 $26,069,580.00 1,280,546
1998 $62.19 $38,744,370.00 1,206,320
1997 $62.43 $71,045,340.00 1,053,234
1996 $63.32 $65,662,840.00 938,680
1995 $60.64 $74,829,760.00 824,733
1994 $52.29 $64,682,730.00 703,399
1993 $51.81 $51,654,570.00 595,390
1992 $48.88 $46,484,880.00 505,569
1991 $45.63 $53,797,770.00 400,644
1990 $40.01 $36,209,050.00 341,251
1989 $40.17 $31,493,280.00 290,457
1988 $38.47 $34,007,480.00 269,514
1987 $33.35 $15,607,800.00 240,024
1986 $31.90 $11,196,900.00 211,111
1985 $31.14 $17,469,540.00 183,905
1984 $31.15 $18,970,350.00 163,267
1983 $28.69 $18,246,840.00 146,025
1982 $30.73 $18,130,700.00 116,510
1981 $28.10 $33,382,800.00 104,621
1980 $23.65 $28,238,100.00 92,424
1979 $19.69 $16,283,630.00 78,612
1978 $17.81 $10,935,340.00 63,659
1977 $15.13 $15,326,690.00 51,773
1976 $13.17 $9,429,720.00 41,651
1975 $11.23 $23,470,700.00 33,074
1974 $8.90 $23,727,400.00 30,679
1973 $6.38 $14,718,660.00 27,068
1972 $9.42 $4,879,560.00 22,059
1971 $10.67 $5,046,910.00 22,092
1970 $10.03 $5,366,050.00 20,540
1969 $8.68 $2,768,920.00 18,557
1968 $8.04 $136,680.00 16,868
1967 $7.46 $5,080,260.00 15,672
1966 $6.56 $4,742,880.00 14,019
1965 $5.93 $3,303,010.00 11,983
1964 $5.20 $2,173,600.00 10,435
1963 $4.63 $675,980.00 8,954
1962 $4.31 ($224,120.00) 7,626
1961 $4.12 $675,680.00 7,111
1960 $3.75 $2,606,250.00 6,807
Velocity Of Money CPI Money Supply (M2) Inflation Rate (%)
182.32
10.58%
$18.17 16,200,800
$10.24 164.88 15,605,700 5.08%
$8.65 156.91 14,393,600 4.09%
$8.31 150.75 12,640,400 3.77%
$6.07 145.28 11,282,144 2.53%
$17.63 141.7 9,966,583 7.19%
$20.08 132.2 8,856,364 7.69%
$28.42 122.75 7,641,795 9.68%
$38.03 111.92 6,695,194 11.92%
$39.68 100 5,777,234 12.94%
$44.68 87.81 5,137,219 13.65%
$73.59 77.27 4,689,143 20.29%
$28.49 64.24 4,065,155 7.60%
$31.91 59.7 3,406,905 7.92%
$36.74 55.32 2,960,645 9.06%
$32.24 50.72 2,486,556 7.44%
$12.85 47.21 2,078,705 2.91%
$14.92 45.87 1,761,370 3.29%
$16.41 44.41 1,526,044 3.15%
$25.59 43.05 1,400,632 4.37%
$20.36 41.25 1,280,546 4.14%
$32.12 39.61 1,206,320 6.23%
$67.45 37.29 1,053,234 11.38%
$69.95 33.48 938,680 10.37%
$90.73 30.33 824,733 12.34%
$91.96 27 703,399 12.37%
$86.76 24.03 595,390 9.97%
$91.95 21.85 505,569 9.51%
$134.28 19.95 400,644 11.79%
$106.11 17.85 341,251 9.05%
$108.43 29.59 290,457 7.84%
$126.18 27.43 269,514 8.84%
$65.03 25.21 240,024 4.68%
$53.04 24.08 211,111 3.51%
$94.99 23.26 183,905 5.61%
$116.19 22.03 163,267 6.09%
$124.96 20.76 146,025 6.36%
$155.61 19.52 116,510 5.90%
$319.08 18.43 104,621 11.88%
$305.53 16.48 92,424 11.94%
$207.14 14.72 78,612 8.27%
$171.78 13.59 63,659 6.14%
$296.04 12.81 51,773 10.13%
$226.40 11.63 41,651 7.16%
$709.64 10.85 33,074 20.90%
$773.41 8.976 30,679 26.66%
$543.77 7.087 27,068 23.07%
$221.20 5.758 22,059 5.18%
$228.45 5.475 22,092 4.73%
$261.25 5.227 20,540 5.35%
$149.21 2.74 18,557 3.19%
$8.10 2.66 16,868 0.17%
$324.16 2.66 15,672 6.81%
$338.32 2.49 14,019 7.23%
$275.64 2.32 11,983 5.57%
$208.30 2.2 10,435 4.18%
$75.49 2.11 8,954 1.46%
($29.39) 2.08 7,626 -0.52%
$95.02 2.09 7,111 1.64%
$382.88 2.05 6,807 6.95%
Real interest rate Nominal interest rate
3.33%
13.91% Sources:
5.93% 11.01%
4.03% 8.12% https://www.sbp.org.pk/departme
8.32% 12.09% https://www.macrotrends.net/cou
5.81% 8.34% https://www.macrotrends.net/cou
4.02% 11.21% https://www.assetmacro.com/pak
4.69% 12.38% https://ycharts.com/indicators/pak
7.13% 16.81% https://databank.worldbank.org/so
-4.37% 7.55% https://tradingeconomics.com/pak
2.88% 15.82%
-5.08% 8.57%
-0.24% 20.05%
4.19% 11.79%
1.94% 9.86%
1.14% 10.20%
-0.07% 7.37%
4.46% 7.37%
10.44% 13.73%
9.17% 12.32%
6.63% 11.00%
7.99% 12.13%
11.01% 17.24%
5.49% 16.87%
5.53% 15.90%
3.04% 15.38%
ww.sbp.org.pk/departments/stats/PakEconomy_HandBook/Chap-4.1.pdf
ww.macrotrends.net/countries/PAK/pakistan/inflation-rate-cpi
ww.macrotrends.net/countries/PAK/pakistan/gdp-gross-domestic-product
ww.assetmacro.com/pakistan/pakistan-money-supply-m2/
harts.com/indicators/pakistan_consumer_price_index_wdi
atabank.worldbank.org/source/world-development-indicators
adingeconomics.com/pakistan/interest-rate
Year Nominal GDP Quantity Of Money Velocity Of Money
2019 $294,356,760.00 $16,200,800.00 $18.17
2018 $159,801,560.00 $15,605,700.00 $10.24
2017 $124,569,130.00 $14,393,600.00 $8.65
2016 $105,051,050.00 $12,640,400.00 $8.31
2015 $68,451,680.00 $11,282,144.00 $6.07
2014 $175,694,840.00 $9,966,583.00 $17.63
2013 $177,808,180.00 $8,856,364.00 $20.08
2012 $217,199,840.00 $7,641,795.00 $28.42
2011 $254,599,280.00 $6,695,194.00 $38.03
2010 $229,257,980.00 $5,777,234.00 $39.68
2009 $229,524,750.00 $5,137,219.00 $44.68
2008 $345,092,320.00 $4,689,143.00 $73.59
2007 $115,816,400.00 $4,065,155.00 $28.49
2006 $108,709,920.00 $3,406,905.00 $31.91
2005 $108,774,360.00 $2,960,645.00 $36.74
2004 $80,173,440.00 $2,486,556.00 $32.24
2003 $26,702,160.00 $2,078,705.00 $12.85
2002 $26,287,100.00 $1,761,370.00 $14.92
2001 $25,036,200.00 $1,526,044.00 $16.41
2000 $35,842,740.00 $1,400,632.00 $25.59
1999 $26,069,580.00 $1,280,546.00 $20.36
1998 $38,744,370.00 $1,206,320.00 $32.12
1997 $71,045,340.00 $1,053,234.00 $67.45
1996 $65,662,840.00 $938,680.00 $69.95
1995 $74,829,760.00 $824,733.00 $90.73
1994 $64,682,730.00 $703,399.00 $91.96
1993 $51,654,570.00 $595,390.00 $86.76
1992 $46,484,880.00 $505,569.00 $91.95
1991 $53,797,770.00 $400,644.00 $134.28
1990 $36,209,050.00 $341,251.00 $106.11
1989 $31,493,280.00 $290,457.00 $108.43
1988 $34,007,480.00 $269,514.00 $126.18
1987 $15,607,800.00 $240,024.00 $65.03
1986 $11,196,900.00 $211,111.00 $53.04
1985 $17,469,540.00 $183,905.00 $94.99
1984 $18,970,350.00 $163,267.00 $116.19
1983 $18,246,840.00 $146,025.00 $124.96
1982 $18,130,700.00 $116,510.00 $155.61
1981 $33,382,800.00 $104,621.00 $319.08
1980 $28,238,100.00 $92,424.00 $305.53
1979 $16,283,630.00 $78,612.00 $207.14
1978 $10,935,340.00 $63,659.00 $171.78
1977 $15,326,690.00 $51,773.00 $296.04
1976 $9,429,720.00 $41,651.00 $226.40
1975 $23,470,700.00 $33,074.00 $709.64
1974 $23,727,400.00 $30,679.00 $773.41
1973 $14,718,660.00 $27,068.00 $543.77
1972 $4,879,560.00 $22,059.00 $221.20
1971 $5,046,910.00 $22,092.00 $228.45
1970 $5,366,050.00 $20,540.00 $261.25
1969 $2,768,920.00 $18,557.00 $149.21
1968 $136,680.00 $16,868.00 $8.10
1967 $5,080,260.00 $15,672.00 $324.16
1966 $4,742,880.00 $14,019.00 $338.32
1965 $3,303,010.00 $11,983.00 $275.64
1964 $2,173,600.00 $10,435.00 $208.30
1963 $675,980.00 $8,954.00 $75.49
1962 ($224,120.00) $7,626.00 ($29.39)
1961 $675,680.00 $7,111.00 $95.02
1960 $2,606,250.00 $6,807.00 $382.88
$400,000,000.00

$350,000,000.00

$300,000,000.00

$250,000,000.00

$200,000,000.00

$150,000,000.00

$100,000,000.00

$50,000,000.00

$0.00
19 16 13 10 07 04 01 98 95 92 89 86 83 80 77 74 71 68 65 62
20 20 20 20 20 20 20 19 19 19 19 19 19 19 19 19 19 19 19 19
($50,000,000.00)

Nominal GDP Quantity Of Money Velocity Of Money

4 71 68 65 62
19 19 19 19

Of Money
 18000000
Year CPI Money Supply (M2)
16000000
2019 182.32 16200800
2018 164.88 15605700 14000000

2017 156.91 14393600 12000000

2016 150.75 12640400 10000000
2015 145.28 11282144 8000000
2014 141.7 9966583 6000000
2013 132.2 8856364
4000000
2012 122.75 7641795
2011 2000000
111.92 6695194
2010 100 5777234 0
2009 87.81 5137219 19 16 13 10
20 20 20 20
2008 77.27 4689143
2007 64.24 4065155
2006 59.7 3406905
2005 55.32 2960645
2004 50.72 2486556
2003 47.21 2078705
2002 45.87 1761370
2001 44.41 1526044
2000 43.05 1400632
1999 41.25 1280546
1998 39.61 1206320
1997 37.29 1053234
1996 33.48 938680
1995 30.33 824733
1994 27 703399
1993 24.03 595390
1992 21.85 505569
1991 19.95 400644
1990 17.85 341251
1989 29.59 290457
1988 27.43 269514
1987 25.21 240024
1986 24.08 211111
1985 23.26 183905
1984 22.03 163267
1983 20.76 146025
1982 19.52 116510
1981 18.43 104621
1980 16.48 92424
1979 14.72 78612
1978 13.59 63659
1977 12.81 51773
1976 11.63 41651
1975 10.85 33074
1974 8.976 30679
1973 7.087 27068
1972 5.758 22059
1971 5.475 22092
1970 5.227 20540
1969 2.74 18557
1968 2.66 16868
1967 2.66 15672
1966 2.49 14019
1965 2.32 11983
1964 2.2 10435
1963 2.11 8954
1962 2.08 7626
1961 2.09 7111
1960 2.05 6807
18000000
16000000
14000000
12000000
10000000
8000000
6000000
4000000
2000000
0
19 16 13 10 07 04 01 98 95 92 89 86 83 80 77 74 71 68 65 62
20 20 20 20 20 20 20 19 19 19 19 19 19 19 19 19 19 19 19 19

CPI Money Supply (M2)

Year Inflation Rate (%) Real interest rate Nominal interest rate
2019 11% 3% 14%
2018 5% 6% 11%
2017 4% 4% 8%
2016 4% 8% 12%
2015 3% 6% 8%
2014 7% 4% 11%
2013 8% 5% 12%
2012 10% 7% 17%
2011 12% -4% 8%
2010 13% 3% 16%
2009 14% -5% 9%
2008 20% 0% 20%
2007 8% 4% 12%
2006 8% 2% 10%
2005 9% 1% 10%
2004 7% 0% 7%
2003
3% 4% 7%
2002 3% 10% 14%
2001 3% 9% 12%
2000 4% 7% 11%
1999 4% 8% 12%
1998 6% 11% 17%
1997 11% 5% 17%
1996 10% 6% 16%
1995 12% 3% 15%
 25%
Inflation Rate Nominal Interest Rate

20%

15%

10%

5%

0%
19 18 17 16 15 14 13 12 11 10 09 08 07 06 05 04 03 02 01 00 99
20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 19

(Data available only for 1995-2019 on the inte

Interpretation:

1) As nominal interest rate is the real interest rate adjusted to the changes in the inflation rate, w
realtionship among the both the inflation rate and the nominal interest lines.

2) Such that as the inflation rate rose in between the year 2007-2008 a major spike is observed
and the nominal interest rate lines.

3) However in certain years such as in the year 1997-2003, a major downfall is observed in Pakis
due to fall in the money supply, and as a result a major downfall is observed in the nominal in
al Interest Rate

6 05 04 03 02 01 00 99 98 97 96 95
20 20 20 20 20 20 19 19 19 19 19

2019 on the internet)

changes in the inflation rate, we can observe a positive

nterest lines.

08 a major spike is observed in both the inflation rate

r downfall is observed in Pakistan's inflation rate, it might be

l is observed in the nominal interest rate lines simultaniously.