Gross Domestic Product Essay
The desire to disseminate one’s knowledge, gained through experience in the field, often prompts one to say what one has to say in spite of the pitying and patronizing attitude of the amused but silent out lookers. The Macro Economics final report on the GDP and GNP trends of Pakistan since 1990 has got everything about the crusts and troughs of the Pakistan economy. In writing the report we have been guided mainly by our teacher. The reason for writing this report is to have a look at the trends in Pakistan economy and comparison of it with the world’s economy for a look at the changing world scenarios.
The difficulty we faced while writing this report was definitely the collection of data as these type of data are not very rarely found on websites as well as economic journals are very hard to be understood. We hope that the readers will appreciate our work and give suggestions for the betterment as nothing is perfect in this world and there is always a chance of enhancement and betterment in every field of life. Your good suggestions and ideas will be eagerly accepted. Islamic Republic of Pakistan is a country in South Asia.
It is bounded to the west by Iran, to the north by Afghanistan, to the northeast by China, to the east and southeast by India, and to the south by the Arabian Sea. The territory has an area of 796,095 square kilometers. The capital of Pakistan is Islamabad. Pakistan was brought into being at the time of the partition of British India in1947 in order to create a separate homeland for India’s Muslims in response to the demands of Islamic nationalists, demands that were articulated by the All India Muslim League under the leadership of Mohammad Ali Jinnah.
From independence in 1947 until 1971, Pakistan (both de facto and in law) consisted of two regions: West Pakistan, in the Indus River basin; and East Pakistan, located more than 1,600 kilometers away in the Ganges River delta. In response to grave internal political problems, however, an independent state of Bangladesh was proclaimed in East Pakistan in 1971. Since 1947, the territory of Jammu and Kashmir, along the western Himalayas, has been disputed between Pakistan and India.
With each holding sectors of Jammu and Kashmir, the two countries have gone to war three times in 1948, 1965, and 1971. Since its independence the country has established an industrial base and a sound technological infrastructure. In addition to setting up a network of hydro and thermal power generating stations, Pakistan is also the first Muslim state to have a nuclear power plant in operation catering for 20 percent of energy needs of Karachi, the industrial center and city port of over 10 million people.
Its arable lands, criss-crossed with largest irrigation system in the world, produce not only enough cotton, food-grains, fruits and vegetables to sustain but plenty more to spare for exports as well. In 1947, only 36. 3 million acres, or 18. 45 percent of the total land area, was under cultivation. Agriculture, apart from sustaining the economy, also provides basic raw materials to a large number of such industries as textiles, edible oils, sugar mills etc.
At the time when Pakistan came into being, it was predominantly an agricultural country, over 80 percent of its population living in rural areas engaged in primitive sub-sustaining farming, but over the years its economy has profoundly changed to a mix of agriculture and manufacturing, both contributing about 25 and 18 percent to GDP, and employing 48 and 13 percent respectively of the workforce. Both these sectors have come a long way by way of expansion and modernization in achieving a measure of self-sufficiency at least in the basic consumer needs.