Pakistan is an agricultural country with a developing industry sector. Major industries include metalworking, machine building, chemical, and petrochemical, food processing, and textiles industries, handicrafts. Transport comprises road, rail, and sea modes. The main ports are Karachi, Qasim. There is also a national airline company. Karachi is a major international airport.
According to the Index of Economic Freedom [The Heritage Foundation, USA 2001], Pakistani GDP is $ 67.2 billion. GDP growth rate is 3.3%. GDP per capita is $ 511. Imports (1997) (oil and petroleum products, industrial raw materials and equipment, vegetable oil, tea, chemicals, fertilizers) is $ 11.4 billion. Exports (cotton, rice, fish and fish products, cotton textiles, sports goods, carpets, leather and leather goods, clothing) is $ 10 billion.
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By 1947, the formation of the economy in the territories, which is now Pakistan was under colonial India. Due to the continued dominance of the British imperialism, the country has had a very low level of economic development since the formation of a sovereign state. After the division of former British India, Pakistan had industrially backward regions.
With the independence, Pakistan has achieved some success in economic development, but it still is underdeveloped agrarian country with a mixed economy. The major formations are private-capitalist and state-capitalist, but they are quantitatively dominated by small-scale and small-capitalism formation, and in some peripheral areas, natural-patriarchal structure is preserved.
The main industries are in the private sector. The monopolistic groups, which include large industrial enterprises (82% of investment in large-scale industry), trade, and construction companies, have Leading positions in the economy. The government encourages foreign investment in various sectors of the economy, resorting to foreign loans and credits.
In some areas, the English capital still keeps a strong position. It is followed the U.S., Japan, and Germany corresponding to the size of the investment.
Industry provides less than one-third of GDP. Relatively developed are textile, leather, food processing, chemical, cement, steel, oil, gas, and other industries. Electricity, steel, petroleum, and petroleum products, and fertilizers are concentrated mainly in the public sector (about 50% of industrial production). From the colonial period, Pakistan got dozens of small textile mills, sugar refineries, mills, mechanical workshops. Since independence, national private and public capital have created relatively large light industry and laid the foundations of heavy industry. Annual growth rate in the manufacturing industry is over 10%. Recently, the economy is experiencing a period of intense transition from state regulation to deploying processes, oriented on free market.
Is you are indented to prepare a good research proposal on Pakistan economy, you should use free sample research paper topics, which will help you understand that Pakistan chemical industry is focused mainly on services for the rural economy. Production of chemical fertilizers satisfies more than half of the agricultural needs of the country. Cement industry is also largely developed. There are several plants for rubber, glass, and plastics production.
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