Economic survey shows economic indicators during PTI govt

A nationwide economic survey showed that the PTI government had achieved all important targets for economic growth, agriculture, industry, services sector, export, key crops, large manufacturing and small industries.

As per important points of the survey, the Rs246,414 per capita income target was achieved, whereas, the 11-month export rate reached a record high up to $29 billion.

According to the government records, gross domestic product (GDP) reached 6% during FY2021-22, whereas, the targeted GDP was 4.8%, agriculture growth was recorded up to 4.4% while the target was 3.5%.

The target of the industrial sector’s growth was 6.6% while it was recorded at 7.2%, services sector growth remained at 6.2% against 4.7%. However, the PTI government failed to achieve the targeted inflation of 8 per cent which was risen up to 13.3%.

It showed that the total investment was 16.1% against the 15.1% target and the fixed investment rate for the current financial year was 13.4%.

According to the records, the national saving rate was 15.4% against 11.1%, cotton production was 8.3 million bales, rice production was 9.3 million metric tonnes, sugarcane production was 88.7 million metric tonnes and wheat production was 26.4 million metric tonnes.

The economic survey stated that the volume of the country’s economy is worth $383 billion, with per capita income rising from $1,676 to a record $1,798, whereas, the current account deficit target for the current financial year was set at $2.276 billion.

The current account deficit reached $13.8 billion in July-April, while the trade deficit target for the current financial year was set at $28.43 billion.

The trade deficit for July-May was recorded at $43.33 billion, whereas, the import target for 2021-22 was set at $55.26 billion.

Imports reached $72.182 billion during July-May, while the export target for the current financial year was set at $26.83 billion. Exports from July to May stood at $28.84 billion.