ISLAMABAD: Pakistan Economic Survey 2017-18 is going to be launched today here at Finance Ministry. Most likely, Minister of State for Finance and Revenue Rana Muhammad Afzal Khan to launch the Economic Survey of Pakistan.
In this regard, a launching ceremony of Pakistan Economic Survey (2017-18) will be held here as the document shall provide an overview of the national economy, highlighting performance and achievements in different sectors during the current fiscal year.
The launching ceremony will mark the opening of budget related events including the presentation of budget (2018-19) on Friday 27th April and the post-budget media interaction on Saturday, 28th April 2018.
Pakistan Economic Survey 2016-17 showed that growth and investment economy of Pakistan has continued the growth momentum as the GDP growth reached to 5.28 percent in 2016-17 which is the highest in 10 years, on the back of rebound growth in agriculture which registered a growth of 3.46 percent against the growth of 0.27 percent last year.
Industrial sector witnessed the growth of 5.02 percent against 5.80 percent last year, large scale manufacturing posted growth of 4.61 percent against 3.29 percent last year, while services sector surpassed its target and recorded 5.98 percent growth as compared to 5.55 percent last year.
The share of commodity producing sector has reached to 40.41 percent of GDP during outgoing FY2017 as compared to 40.80 percent last year. It grew by 4.3 percent during FY2017 as compared to 3.0 percent during FY2016. Agriculture accounts for 19.53 percent of GDP and employed bulk of the total work force. Agriculture sector recorded a growth of 3.46 percent in FY 2017 as compared to the growth of 0.27 percent last year.
The crops subsector comprises of 37.22 percent of agriculture sector and is the basic driver of growth of the agriculture sector as well as GDP on the whole. Crops sub sector recorded a growth of 3.02 percent as compared to the growth of (-4.97) percent last year. Important crops accounting for 23.85 percent of value added of agriculture, its share in GDP is 4.66 percent. Important crops recorded a growth of 4.12 percent in FY2017 as compared to (-5.47) percent last year.
Other crops have contributed 11.03 percent in agriculture sector and its share in GDP is 2.15 percent in FY 2017. This subsector has registered a growth of 0.21 percent against the growth of 0.59 percent last year. Cotton Ginning has a 2.34 percent contribution in agriculture sector and in GDP its share is 0.46 percent. This sub-sector grew at 5.59 percent as compared to negative growth of (-22.12) percent. Livestock’s share in agriculture sector stood at 58.33 percent while it contributes 11.39 percent in the GDP.
Livestock during outgoing fiscal year grew by 3.43 percent as compared to 3.36 percent last year. Forestry subsector has registered a growth of 14.49 percent as compared to growth of 14.31 percent last year. Fisheries contribute 2.12 percent in agriculture and its share in GDP is 0.41 percent; its growth remained at moderate 1.23 percent against the growth of 3.25 percent last year.
Industrial sector contributes 20.88 percent in GDP. This year it recorded a growth of 5.02 percent as compared to 5.80 percent last year. Manufacturing is the most vibrant subsector of the industrial sector having 64.4 percent contribution in the industrial sector and in GDP it accounts for 13.45 percent.
Manufacturing sub-sector is further divided in three components including large-scale manufacturing (LSM) with the share of 51.26 percent in industrial sector, small scale manufacturing share is 8.80 percent in industrial sector, while slaughtering contributes 4.34 percent in the industry. Small scale
