ISLAMABAD: The government has revised the GDP growth rate to 3.04 percent from the earlier provisional growth rate of 2.68 percent for the financial year (FY25). The growth rate in the fourth quarter (April-June) of FY25 stood at 5.66 percent, pushing up the overall growth rate to 3.04 percent for FY25.
The size of economy stands at $407.2 billion, whereas the per capita income in dollar terms is $1,812.
The National Accounts Committee (NAC) held its 114th meeting here on Wednesday, in which the updated growth rate of GDP for FY2025 was shown to be 3.04% as against 2.68% estimated previously.
The committee approved the quarterly GDP growth rates for Q1 (Revised), Q2 (Revised), Q3 (Revised), and Q4 during FY 2024-25 and updated annual growth rates for FY2023-24 and FY2024-25.
The committee approved the revised quarterly GDP growth rates for Q1, Q2, & Q3 and fresh growth of Q4 during FY2024-25. Overall GDP witnessed upward revisions in first three quarters from 1.37% to 1.80% for Q1, from 1.53% to 1.94% for Q2, and from 2.40% to 2.79% for Q3.
The economy has posted a stable growth of 5.66% during Q4 of FY2025. The growth in agriculture, industry and services stands at +0.18%, +19.95% and +3.72%, respectively.
In agriculture, although important crops have declined by -17.55%, other crops have grown by +17.99% on account of double digit growth in production of green fodder (14.2%), onion (12.6%), and mangoes (26.4%). Livestock (1.44%), forestry (3.60%) and fishing (2.23%) have also registered positive growth rates during Q4 of FY2025.
Contrary to the first three quarters, the industry has posted a healthy growth of +19.95% as compared to -3.06% during the same period last year.
Although, all the constituents of industry have contributed positively e.g. mining & quarrying (+1.94%), large scale manufacturing (+2.96%), the electricity, gas & water supply industry has posted an overwhelming growth of +121.38% due to higher subsidies, decline in deflator as well as low base effect of -31.59%.
The committee approved the updated annual growth of 2.58% for FY2024, which was estimated at 2.51% in the previous meeting.
In the updated estimates, while agriculture has remained at the same level i.e. 6.40%, the industry has improved from -1.37% to -1.19% mainly because of upward revision in electricity, gas, and water supply from -19.86% to -19.10%. Services have also improved from 2.19% to 2.25% mainly because of improvement in transportation and storage industry (1.65% vs. 1.51%).
The committee also approved the updated annual growth of GDP at 3.04% during FY2025, which was estimated at 2.68% during the previous meeting.
