Pakistan’s economy grew by 3.04 per cent in fiscal year 2024-25, up from the earlier estimate of 2.68 per cent, with the overall size of the economy reaching $407.2 billion and per capita income recorded at $1,812.

The National Accounts Committee (NAC), in its 114th meeting, chaired by the Secretary for Planning, Development and Special Initiatives, approved the revised quarterly and annual growth estimates.

According to the NAC, GDP growth was recorded at 1.80 per cent in the first quarter, 1.94 per cent in the second, and 2.79 per cent in the third, while the fourth quarter posted a robust 5.66 per cent growth.

Agriculture expanded by 1.51 per cent during the fiscal year, the industrial sector grew by 5.26 per cent, and services increased by 3 per cent.

Major crop output declined by 13.12 per cent, while other crops rose by 19.55 per cent.

Vegetable, fruit, and tobacco production showed double-digit growth, with livestock and forestry rising by 2.94 and 2.66 per cent, respectively.

The construction sector registered a 6.63 per cent increase, while electricity, gas, and water supply recorded a remarkable 28.53 per cent surge.

Financial and insurance activities grew by 3.9 per cent, public administration and social protection by 9.88 per cent, education by 4.13 per cent, and health services by 3.56 per cent.

The NAC commended the efforts of the National Accounts team, the Planning Ministry, the Ministry of Finance, and the State Bank of Pakistan for their role in compiling the data and supporting the review process.