Research and analysis

Pakistan: economics update - July 2014

Regular monthly economic report by our |High Commission in Pakistan.

• From: Foreign & Commonwealth Office
• Published: 30 July 2014

This publication was withdrawn on 8 August 2016

This publication was archived on 5 August 2016. This article is no longer current. Please refer to Overseas Business Risk - Pakistan.

Documents

Pakistan - Economy update July 2014

PDF, 951 KB, 4 pages

Details

• The IMF upgraded GDP growth for the outgoing year from 3.1% to 3.3%.
• The current account deficit for FY14, at 1.2% of GDP, was almost unchanged on 1.1% last year.
• The country’s total FX reserves, including those held by commercial banks, now stand at £8.5 billion.
• Overseas remittances for FY14 were up 13.7% on the previous year; those from the UK increased 12%.
• The Karachi Stock Exchange continues to sizzle: last week it hit a new record high, crossing 30,000 points.
• Industrial production grew 4.3% during 10M Jul-Apr over last year.
• The State Bank kept its main policy rate unchanged at 10% in its meeting last week. 
• Inflation, at 8.2% in June, was almost unchanged from 8.3% in the previous month.
• For FY15, the central bank expects average inflation of around 7.5 – 8.5%.

Published 30 July 2014