The economy of Pakistan is the 22nd largest in the world in TERMS of purchasing power parity (PPP), and 45th largest in terms of nominal gross domestic product. Pakistan has a population of over 220 MILLION [33] (the world's 5th-largest), giving it a nominal GDP per capita of $1,543 in 2020-21,[34] which ranks 154th in the world and giving it a PPP GDP per capita of $5,839 in 2021, which ranks 132nd in the world for 2021. Pakistan is a developing country.[35][36][37] The economy is semi-industrial, with centres of growth along the Indus River.[38][39][40] Primary export commodities include textiles, leather goods, sports goods, chemicals and carpets/rugs.[41][42]The economy of Pakistan is the 22nd largest in the world in terms of purchasing power parity (PPP), and 45th largest in terms of nominal gross domestic product. Pakistan has a population of over 220 million [33] (the world's 5th-largest), giving it a nominal GDP per capita of $1,543 in 2020-21,[34] which ranks 154th in the world and giving it a PPP GDP per capita of $5,839 in 2021, which ranks 132nd in the world for 2021. Pakistan is a developing country.[35][36][37] The economy is semi-industrial, with centres of growth along the Indus River.[38][39][40] Primary export commodities include textiles, leather goods, sports goods, chemicals and carpets/rugs.[41][42]Growth poles of Pakistan's economy are situated along the Indus River;[39][43] the diversified economies of Karachi and major urban centers in the Punjab, coexisting with lesser developed areas in other parts of the country.[39] The economy has suffered in the past from internal political disputes, a fast-growing population, MIXED levels of foreign investment.[44] Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium TERM.[45][46] Pakistan is currently undergoing a process of economic liberalization, including privatization of all government corporations, aimed to attract foreign investment and decrease budget deficit.[47] In October 2016, foreign currency reserves crossed $24.0 billion[48] which has led to stable outlook on the long-term rating by Standard & Poor's.[49][50] In 2016, BMI Research report named Pakistan as one of the ten emerging economies with a particular FOCUS on its manufacturing hub.[51]The economy of Pakistan is the 22nd largest in the world in terms of purchasing power parity (PPP), and 45th largest in terms of nominal gross domestic product. Pakistan has a population of over 220 million [33] (the world's 5th-largest), giving it a nominal GDP per capita of $1,543 in 2020-21,[34] which ranks 154th in the world and giving it a PPP GDP per capita of $5,839 in 2021, which ranks 132nd in the world for 2021. Pakistan is a developing country.[35][36][37] The economy is semi-industrial, with centres of growth along the Indus River.[38][39][40] Primary export commodities include textiles, leather goods, sports goods, chemicals and carpets/rugs.[41][42]Growth poles of Pakistan's economy are situated along the Indus River;[39][43] the diversified economies of Karachi and major urban centers in the Punjab, coexisting with lesser developed areas in other parts of the country.[39] The economy has suffered in the past from internal political disputes, a fast-growing population, mixed levels of foreign investment.[44] Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium term.[45][46] Pakistan is currently undergoing a process of economic liberalization, including privatization of all government corporations, aimed to attract foreign investment and decrease budget deficit.[47] In October 2016, foreign currency reserves crossed $24.0 billion[48] which has led to stable outlook on the long-term rating by Standard & Poor's.[49][50] In 2016, BMI Research report named Pakistan as one of the ten emerging economies with a particular focus on its manufacturing hub.[51]As of May 2021, the Pakistani government has