In its 113th session held on May 20, 2025, at the Pakistan Bureau of Statistics in Islamabad, the National Accounts Committee (NAC) officially approved the GDP estimates for the first three quarters and the provisional full-year figures for the fiscal year 2024-25. The data revealed a modest but steady recovery in the Pakistani economy, which posted an annual GDP growth of 2.68 percent.
The revised figures for the first and second quarters of the fiscal year were reported at 1.37 percent and 1.53 percent, respectively. A more encouraging growth of 2.40 percent was recorded in the third quarter, with notable contributions from the services sector, which grew by 3.99 percent. Agriculture showed a modest improvement with a 1.18 percent rise, while the industrial sector contracted by 1.14 percent during Q3.
The full-year breakdown for FY 2024-25 revealed diverse trends across the economy’s main sectors. Agriculture contributed 0.56 percent to overall growth, supported by strong performance in livestock (up by 4.72 percent) and other crops (4.78 percent). This performance came despite challenges including significant crop losses in major categories.
The industrial sector rebounded significantly, contributing 4.77 percent to overall growth. This recovery was powered by impressive gains in electricity, gas, and water supply (up 28.88 percent) and the construction industry (6.61 percent), even though large-scale manufacturing continued to struggle with a contraction of 1.53 percent.
Services remained a vital driver of the economy, posting a growth rate of 2.91 percent. This was largely fueled by double-digit growth in public administration (9.92 percent), strong momentum in information and communication technologies (6.48 percent), and steady expansion in financial services (3.22 percent).
As per the NAC report, Pakistan’s economy now stands at an estimated size of US$ 411 billion. The per capita income has been calculated at US$ 1,824, reflecting a gradual improvement in economic output relative to the population.
In addition to the FY 2024-25 data, the NAC finalized the GDP growth estimate for FY 2022-23 at -0.21 percent, marking a contraction. The previously reported growth for FY 2023-24 was also revised slightly upward to 2.51 percent.
The Committee acknowledged and appreciated the coordinated efforts of the Pakistan Bureau of Statistics and other institutional stakeholders in compiling and delivering timely national accounts, which are crucial for informed policymaking and economic planning.
These GDP figures suggest that while Pakistan’s economy remains under pressure from structural challenges and external shocks, it is slowly regaining momentum. Continued growth in services and targeted recovery strategies in industry and agriculture are seen as key to sustaining this upward trend into the next fiscal cycle.