what are the real economic indicators in pakistan, cos some sites have different data on them and some mix it up with old data.
i thought GDP was $140 billion, written somewhere on this forum, but world factbook says $124 billion
also on the forum and business recorder website i have seen per capita to be $925 but world factbook says $2,600
Re: economic indicators
to begin with.. they are
1- number of mobile phones sold
2- number of motor cycles manufactured and sold
3- number of cars manufactured and sold
and last but not the least
4- paindoo;s enjoy bathing by LUX and using shampoo.s
cheers
Re: economic indicators
Alsi, Reza (guppies) can very easily help you on that, they know these numbers by heart.
Re: economic indicators
You are getting confused between real figures are PPP figures, adjusted for purchasing power. $925 is the nominal figure, it gives the purchasing power of $2600 in Pakistan. Even these states are out of date, as per IMF its $3000.4
GDP is hard to measure, different systems give different results. $124 bn, or $140 bn...different sites. Key is it was c. $70bn in 1999.
Re: economic indicators
GDP or GNP, none of them is measured in dollars. All of them are measured in local currencies. After the figures are out, different institutions convert that into dollars using different methods.
Best and most appropriate way is to take GDP (or GNP) of a country for particular fiscal year (for Pakistan, it is from July to June) and than convert that using average exchange rate for that fiscal year.
GNP and GDP for Pakistan:
http://www.statpak.gov.pk/depts/fbs/statistics/national_accounts/table2.pdf
Year 1999 (that is for fiscal year July 1998 - June 1999):
GNP: Rs 2912.8 billion
GDP: Rs 2938.4 billion
Average exchange rate for fiscal year 1999 was Rs 46.8 per dollar.
(In 1999, open market dollar was over Rs 60. This is called unofficial parallel market rate. As rule, this rate is never taken into account when calculating GNP, GDP or per capita income, regardless of figures becomes too biased and much higher than true figures).
Hence, the figure in dollars for 1999 (using Rs 46.8 as exchange rate) was:
GNP: 62.2 billion dollars
GDP: 62.8 billion dollars.
Year 2007 (that is for fiscal year July 2006 - June 2007):
GNP: Rs 8867.7 billion
GDP: Rs 8706.9 billion
Average exchange rate for fiscal year 2007 was Rs 60.61 to a dollar.
(This rate is also almost same as open market rate, and reflect true figure, not inflated figure as it was in 1999)
GNP: 146.3 billion dollars
GDP: 143.65 billion dollars.
Per Capita Income for Pakistan:
Per capita income is calculated by dividing GNP of a particular fiscal year with the average population of that fiscal year.
Pakistan population in 1998 census was 132.4 million.
In 1999 estimated average population of Pakistan over fiscal year was around 135 million, whereas GNP was 62.2 billion dollars. Thus
Therefore Pakistan per capita income in 1999 was $ 461 (Pakistan government figure for that year is $ 468)
In 2007 estimated average population of Pakistan over fiscal year was around 158 million, whereas GNP was 146.3 billion dollars. Thus:
Per Capita income of Pakistan in 2007 was $926 dollars (Pakistan government figure for the year is $925)
Now why variations?
Different institution uses different exchange rate for conversion. For instance, World Bank uses Atlas method: That is average of exchange rate for 3 years that also takes into account inflation differences between the questioned country and average inflation of G5 countries (USA, UK, France, Germany, and Japan). Hence their GDP and GNP figures get converted with not real exchange rate but imaginary exchange rate.
Some institution might use conversion using real time exchange rate. That means exchange rate at the time when GNP and GDP are announced.
Similarly, when calculating Per capita income, different institutions might use different estimate of population for the country.
Per capita in purchasing power parity:
World Bank decides what dollar is really worth in local currency (for instance, how many rupees is needed to buy same amount and quality of goods and services what ‘one US dollar’ buys in USA). If World Bank decides that Rs 20 can buy as much goods and services and in same quality in Pakistan as what one dollars buy in USA, than World Bank would consider that real value of one dollar in Pakistan is Rs 20 instead of Rs 60.
Thus, World Bank would convert the GNP using Rs 20 for a dollar. Further, World Bank would use GNP to calculate Per Capita Income and would call that Per Capita Income as Per Capita income in purchasing power parity (PPP per capita income).
Fact is that both Atlas method of converting GNP in dollars and calculating GNP per capita income in purchasing power parity is bias and debatable.