“PAKISTAN IS THE 16TH LARGEST ECONOMY OF THE WORLD”, WORLD 2050
Yes, you are reading right. The name of Pakistan will be going to appear in the list of world largest economy by 2050. In 2030 Pakistan will become the 20th largest economy and if we go further than Pakistan will become the 16th largest economy by 2050.
But the question is how is the global economic order going to change?
The report by PWC said that Pakistan and Egypt could overtake Italy and Canada on basis of purchasing power parity (PPP) by 2040. As Pakistan is the 4th fastest-growing economy in the next 35 years.
Pakistan fastest growing Muslim economy in the world. Pakistan GDP is more likely to grow at an average of 4.4% annually from the period up to 2050. The report also shows that on the basis of PPP, by 2030 Pakistan rank could rise from its present 24th place (GDP at PPP amounting to $988bn) to 20th place (at $1.87tn) and by 2050 its rank will be a 16th place ($4.2tn).
The real market exchange rate of GDP, Pakistan economy will rise from its present 28th place ($284bn) to 27th by 2030 ($776bn) and by 2050 at 19th ($2.8tn).
PwC report also indicates that average growth rate of a population of Pakistan is 1.4%, and real growth per capita 2.9%. However, the annual working-age population of Pakistan is increasing by 2% annually, which is the highest after Nigeria (throughout 2050).
