Pakistan’s GDP Growth rate in 2005

In the Fiscal year ending June 2005, Pakistan’s GDP Growth rate was 8.4% which is the second highest among the ten most populous countries in the world after china.Pakistan’s export grew by as much as 17% and country also saw increasing foreign investments in the IT sector and telecom. Thanks to cheap labor, a low tax and a large pool of english speakers.Pakistan saw an increase in IT exports of 50% from 2003-4 to 2004-5, with total exports standing at $48.5 million. This year the government has set an export goal of $72 million. Exports account for 11% of the total revenues of the IT sector in Pakistan.Recent trends have lead economists to be optimistic about the IT industries future prospects in Pakistan.In telecom as of 2005 there were 6 cell phone companies operating in the country with nearly 10.5 million mobile phone users in the country.

Waseem