Post-Budget - economic performance trend 2017-18.

• Position: Pakistan's gross domestic product growth rate

Pakistan's growth rate of GDP has reached a new high. According to the data released by the Central Bank of Pakistan, the constant price calculation based on the 2005-06 fiscal year, the GDP growth rate of the 2017-18 financial year hit a 13-year high of 5.8%, an increase of 0.4 percentage points over the previous fiscal year. At the current price, the total GDP reached to Rs 34.4 trillion, but due to the depreciation of the Rupee against the US dollar is in excess of 15% in the 2017-18 fiscal year. And if the current US$ is converted to the exchange rate of Rs 124, the total amount of dollar-denominated GDP is about 277.4 billion US dollars, which is lower than the previous fiscal year. From the past five fiscal years, the GDP growth rate of Pakistan has shown a good trend of rising year by year.

Growth rate of the three major industries has increased

In the 2017-18 fiscal year, the growth rate of the three major industries of Pakistan has increased. With the strong support of government policies, the cost of fertilizers and pesticides has decreased, the support for credit and cash subsidies has increased, while farmers' enthusiasm has increased. Besides, the output of major crops such as cotton, rice and sugar cane has increased. The agricultural output value has increased by 3.8%, which is a high growth rate in 18 years and accounting for about 24% of GDP. Thanks to improved energy supply, long-term loose monetary environment and infrastructure investment, industrial output increased by 5.8% to a 10-year high, accounting for about 19% of GDP. Among them, steel, automobile, cement and food industries grew more significantly. The service industry has contributed the most to the three major industries of the Pakistani national economy. It continues to rely on major sub-sectors such as wholesale and retail, transportation and communications.

The output value has increased by 6.4%, reaching a 10-year high, accounting for 57% of GDP.

Consumption is still the main engine of the economy

From the perspective of demand structure, consumption is still the main engine of Pakistan's national economic growth. The total demand is measured by "final consumption + capital formation + export". The final consumption in 2017-18 is 32.5 trillion rupees, accounting for 79% of total demand. Capital formation and exports accounted for 14% and 7% respectively, while net exports remained negative. Compared with the previous fiscal year final consumption increased...