Economic Survey 2016

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Offline analyst

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Economic Survey 2016
« on: June 09, 2016, 11:48:10 AM »
Pakistan economy continued to show improvement in FY16 as economic indicators including GDP growth, inflation, fiscal deficit and external account showed improvement in FY16. However country has once again missed GDP target of 5.5% and achieved GDP growth of 4.7% due to poor performance of agriculture sector and Large Scale Manufacturing (LSM). Industrial sector posted impressible growth of 6.8% during FY16 exceed target of 6.4% on account of construction, electricity generation and gas distribution sector. Construction sector showed a significant growth of 13.1% against the target of 8.5%. In a subset, manufacturing sector grew by 5% against the target of 6.1% on account of lower LSM growth of 4.61% as against the target of 6%. Mining and quarrying sector posted a growth of 6.8% against target of 8.3%.

Services sector performance remains respectable as it met target of 5.7% mainly contributed by transport, communication and storages, finance and insurance. However, wholesale and retail trade missed the target of 5.5% and managed to grow at 4.6% owing to bad performance of the agriculture sector. Agriculture was targeted to grow by 3.9% but posted poor performance with decline of 0.19% owing to international fall in commodities' prices. Cotton crop fail short of target with 10.1 million bales in FY16 compared to 14 million bales in FY15. Similarly, Rice crop production drop by 2.7% owing to cultivation decrease by 4.9% in FY16. On the other hand, livestock, fishery and forestry achieved growth of 3.63%, 3.25% and 8.87%, respectively provided much needed support to agriculture sector.

Fixed investment drop to 13.6% in FY16 from 13.9% in FY15 and missing the target of 16.1% due to private investment decrease from 10.2% to 9.8% while public investment grew from 3.7% to 3.8%. Similarly, national savings all fall of short with 14.6% of GDP, against target of 16.8% of GDP. Inflation likely to settle around 2.9% in FY16 against target of 6% and way below last year of 4.5% due to lower oil prices, decrease in electricity charges and lower rise in food inflation. Workers' remittances growth slow down with growth of 5% to $16 billion 10MFY16 as against $15.2 billion in the corresponding period of last year due to decline in growth of US and soft growth from middle east region. Going forward, we anticipate GDP to grow by 5.5%, inflation to settle around 5.4% in FY17, budget deficit to end up at 4.3% of GDP due to government still continues to provide subsidy.

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Re: Economic Survey 2016
« Reply #1 on: June 09, 2016, 01:07:30 PM »
Great information for 2016, thanks a lot

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Offline diya_MJ

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Re: Economic Survey 2016
« Reply #2 on: June 09, 2016, 11:24:03 PM »
Nice,  Thanks for sharing :)

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Offline Shahroz Ali

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Re: Economic Survey 2016
« Reply #3 on: November 03, 2016, 04:14:26 PM »
great information

 

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