Business
Pakistan’s GDP grows 3.07pc between April and June in FY24: PBS
NAC approves updated provisional growth of GDP at 2.52% during FY24
Islamabad: The country's gross domestic product (GDP) grew by a stable 3.07 per cent in the fourth quarter (April-June) of fiscal year 2023-24.
According to the Pakistan Bureau of Statistics (PBS), the economy has posted a stable growth of 3.07% during Q4 of FY 2023-24. During Q4, the growth in agriculture, industry and services stands at 6.76%, -3.59% and 3.69% respectively, the committee shared.
The PBS issued the latest statistics after the 110th National Accounts Committee (NAC) meeting. The NAC also approved the updated provisional growth of GDP at 2.52% during FY24, which was higher than previous estimates of 2.38%.
The updated growth rates in agriculture, industry and services are 6.36%, -1.15% and 2.15% respectively in FY24.
“The healthy growth of agriculture is mainly due to double-digit growth in important crops i.e. 17.02%, which was 16.82% in the previous meeting on account of improvement in wheat (from 31.438 to 31.583 MT).