Research and analysis

Pakistan: economics update - July 2014

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

This publication was withdrawn on

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 This article is no longer current.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

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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