December 2019 vs December 2020: What do the statistics tell us about Pakistan’s performance?

To put that into perspective, the following figures indicate the growth in terms of economic indicators in December 2020 as compared to December 2019. 

As compared to 2019, Pakistan has shown immense growth in terms of all economic indicators in the year 2020. The government’s aggressive efforts to broaden the tax net, increase Forex reserves and industry-friendly policies have led to remarkable growth in LSM (Large Scale Manufacturing).

To put that into perspective, the following figures indicate the growth in terms of economic indicators in December 2020 as compared to December 2019.

  •  Inflation decreased from 12.6 in 2019 to 7.9 in 2020.
  • FBR tax collection increased from 469 billion in 2019 to 508 billion rupees in 2020.
  • Exports increased from 1993 to 2357 million ruppees.
  • Remittances at an average 2 billion dollars a month.
  • Forex increased to 20.254 billion dollars.
  • Current account turned into surplus from minus 319 million in December 2019 to plus 447 million dollars in the December 2020.

The above statistics indicate that:

  1. LSM (Large Scale Manufacturing) increased by 5.4%.
  2. Inflation decreased by 8%.
  3. Tax collection increased by 5%.
  4. Remittances increased by 24.8%.
  5. Forex Reserves increased by 7.7% to 20.25 billion dollars, the highest in the last three years.
  6. Current Account Deficit decreased by 193%.

Not just this, due to increased confidence in Pakistani leadership, this is the seventh month in a row that remittances crossed the $2 billion mark. It provides a new lifeline to the Pakistani economy, which is expected to return to growth this year.

What are your views on this? Share in the comments bar below.

 

  • Great insha Allah improving day by day ….Imran khan is our last hope ..he is doing his best


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