Pakistan’s GDP grows 3.65% in FY2026, economy size reaches $450bn: NAC

Pakistan's economy expanded by 3.65% in fiscal year 2026 (FY2026), according to estimates released by the Pakistan Bureau of Statistics (PBS) on Monday. This growth figure is slightly lower than the 3.70% anticipated by the National Accounts Committee (NAC) during their previous meeting, signaling a slower pace of economic expansion than initially projected. The NAC provided a detailed breakdown of the updated growth rates across various sectors.

In agriculture, key crops saw notable improvements in growth rates, with wheat and maize contributing to a 1.59% increase, and other crops rising to 4.28% due to higher production of pulses, fruits, tomatoes, oilseeds, and green fodder. Livestock growth, however, saw a minor decline from 3.75% to 3.71%. In forestry and fishing, growth rates were updated to 10.80% and 1.39%, respectively.

Industry saw a decrease in growth from 3.51% to 3.34%, with significant improvements in the mining and quarrying sectors due to increased production of gas, crude oil, and coal. Large-scale manufacturing witnessed a decline from 6.11% to 5.01%, while the services sector also experienced a reduction from 4.09% to 3.81%, though all its components contributed positively.

The overall size of Pakistan's economy in FY2026 was calculated at Rs126.4 trillion, equivalent to $450.4 billion, an increase from Rs114.9 trillion or $408.7 billion in the previous year. Per capita income reached PKR 531,897, or $1,896. Quarterly GDP growth rates were also revised, with Q1 showing a downward revision from 3.92% to 3.89%, while Q2 and Q3 experienced upward revisions to 4.31% and 4.42%, respectively.

These adjustments primarily reflect improved agricultural growth, which boosted the annual benchmarks for growth rates in the first three quarters. Services sector growth decreased slightly from 3.16% to 3.04% in Q1, but saw significant upward revisions in Q2 and Q3.