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What is Pakistan's economic system?
Pakistan has a diversified economic system and is the 25th largest economy in the world. As a rapidly developing country, by 2007, the average annual economic growth of Pakistan had reached 7% for four consecutive years. Although Pakistan was poor when it became independent in 1947, it achieved economic growth higher than the world average in the following 40 years, but the unwise policies in the 1990s led to economic slowdown. Accelerate growth, especially in manufacturing and financial services. However, due to the assistance of the International Monetary Fund and the huge debt relief of the United States, the amount of foreign debt has decreased significantly. Pakistan's GDP (at purchasing power parity) is estimated to be $475.4 billion, and its per capita income is $2,542. The poverty rate is estimated to be between 23% and 28%. In the past five years, Pakistan's economic growth rate has increased steadily. However, inflationary pressure and low savings rate may make this high growth rate unsustainable. At an annual growth rate of 4.9%, it will take 159 years for Pakistan to become a developed country.

Pakistan's economic structure has changed from agriculture to service industry. Agriculture only contributes 20% of GDP; Service industry accounts for 53%, and wholesale and retail industry accounts for 30% of this industry. In the past few years, Karachi Stock Exchange has appreciated like other emerging markets in the world. A large amount of foreign capital has been invested in telecommunications, real estate and energy. Other major industries include software, automobiles, textiles, cement, fertilizers, steel, shipbuilding, aerospace industry and arms production.

Affected by the unstable domestic political situation, the impact of the international financial crisis and the rising international commodity prices, the economic situation in Pakistan continued to deteriorate in 2008. Since 2009, with Pakistan's own adjustment efforts and the help of the international community, the positive factors in Pakistan's economic operation have increased and important economic indicators have improved. In 20 10, Pakistan suffered a catastrophic flood which is rare in history, and the economic loss reached 46 billion dollars.

The main economic data of fiscal year 20 14/20 15 are as follows (annual economic report of Pakistan Ministry of Finance 20 15/20 16): the gross domestic product (GDP) was USD 28149 million, up by 4.7/kloc year-on-year.