Business in Pakistan Economy. Foreign Trade Karachi Islamabad Lahore

Asia Business Economy - Middle East - Central Asia

Summary

Strategically located in South Asia, Pakistan is at the crossroads between Eastern and Western Asia. Pakistan is a rapidly developing country which has faced a number of challenges on both political and economic fronts.

Recently, wide-ranging economic reforms have resulted in a stronger economic outlook and accelerated growth especially in the manufacturing and financial services sectors.

Pakistan’s macroeconomic environment is affected by intensification of war on terror and deepening of the global financial crisis which penetrated into domestic economy through the route of substantial decline in Pakistan’s exports and a visible slowdown in foreign direct inflows.

Although contraction in export receipts is more than compensated by massive import compression emanating from global crash of crude oil prices, the external sector vulnerabilities needs a review.

The outlook for economic growth remained pessimistic as import demand shriveled, tax collection declined, and inflows of foreign investment and privatization dampened.

Exports started to face heat of global financial crisis since January 2009 and the contraction of global demand has exacerbated export contraction. The exports witnessed fractionally negative growth of 0.1 percent — declining from $ 13.432 billion last year to $ 13.414 billion in July-March 2008-09. However, exports fell by 25.9 percent in March 2009 over March 2008 which is really worrying thing for the economy.

The textile industry which has remained the major driver of the export growth once again depicted sluggish performance and it registered negative growth of 7.6 percent.

Foreign direct investment (FDI) has reached $ 3042.1 million during July-March 2008-09 as against $ 3305.9 million in the comparable period of last year, thereby, depicting a decline of 8.0 percent. The communication group spearheaded the FDI inflows with 26.5% stake in overall FDI and followed by financial business (22.1%) and oil and gas exploration (18.3%).

Trade Development Authority of Pakistan (TDAP) is the successor organization to the Export Promotion Bureau (EPB) which was the primary agency of the Government of Pakistan engaged in the promotion and boosting of country’s exports.

Pakistan Telecommunication Company Limited (PTCL) is proud to be Pakistan’s most reliable and largest converged services carrier providing all telecommunications services from basic voice telephony to data, internet, video-conferencing and carrier services to consumers and businesses all over the country.

Automobile Sector of Pakistan has been playing a vital role in the overall national economy. The sector is one of the major contributors to the manufacturing sector in the Country and is registering a growth of over 30% per annum. Steady policies of the present Government enhanced per capital income availability of car financing options.

Improved shape and style of locally manufactured cars and up-gradation in the living standards of the masses are main factors behind the impressive growth in this sector. At present there are 32 automobile manufacturing units in the Country with a capital investment of US$ 1.5 billion (Assembly & Auto Parts) and employ 5,600 workforce. Auto parts vendor industry consists of 2,000 units in organized and unorganized sector and employs over 140,000 workforce.

Hinopak Motors Limited assembles, manufactures and markets world renowned Hino diesel trucks and buses in Pakistan. With over 39,000 vehicles on road, Hinopak has gained 65% market share making it the largest manufacturer in medium and heavy-duty truck and bus industry in Pakistan.

Chawla Shoes is one of Pakistan’s most quality conscious and progressive footwear companies. Headquartered in Lahore, it maintains a fine combination of comfort, style and workmanship and is embarking upon appreciable growth plans for the future.

Pakistani IT industry. The IT and IT-enabled Services (ITeS) marketplace offers lucrative opportunities for developing countries to join the ranks of the developed world. The scale and pace of growth in this sector is faster than in any other industry, and a number of developing countries are attempting to emulate the success enjoyed by countries such as China, Thailand and India.

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Master in Asia business - Master Executive in International Business, Global Marketing and Internationalization - Master in Business with Muslims countries

ESCAP - World Trade Organization - FR: Affaires Pakistan

Pakistan, Business, Economy, Foreign Trade, Karachi, Islamabad, Lahore, Islamic, Republic, Pakistan, Main, exports, products, markets, Foreign direct, investment, FDI, IT industry, Automobile, sector, Telecommunications