Annual Economic Survey reveals an 11.3% increase in total economic output, a stable rupee, and a notable surge in per capita income.
ISLAMABAD: Pakistan’s Gross Domestic Product (GDP) size has expanded to over $452 billion in the fiscal year 2025–26, according to the official Pakistan Economic Survey 2025–26 launched on Thursday.
The survey reveals that the national GDP, valued at current market prices, reached Rs 126.9 trillion (US $452.1 billion). This represents a robust 11.3 per cent increase from the previous fiscal year’s standing of Rs 114.0 trillion (US $408.2 billion).
According to the document, the country’s real, fiscal, financial, and external sectors continued to demonstrate resilience whilst gradually strengthening their growth momentum throughout the 2026 fiscal year (FY26).
Services and Manufacturing Drive 3.70% GDP Growth
Pakistan’s real GDP grew by 3.70 per cent over the year, heavily supported by positive, broad-based growth across all major economic sectors:
• The Agriculture Sector: Recorded a growth of 2.89 per cent, driven primarily by strong yields in important crops and steady livestock production.
• The Industrial Sector: Posted a growth of 3.51 per cent, buoyed by a sharp 6.11 per cent expansion in Large-Scale Manufacturing (LSM).
• The Services Sector: Maintained its status as the largest contributor to the national economy (accounting for 58.42 per cent of total GDP) by expanding by 4.09 per cent, propelled by a 7.52 per cent surge in information and communication services.
Stable Exchange Rate Pushes Per Capita Income Higher
A highly significant factor in this year’s economic expansion was the remarkable stability of the local currency. The average exchange rate remained steady at Rs 280.65 per US dollar, compared to Rs 279.35 per US dollar in FY25.
Benefiting from this exchange rate stability and heightened economic activity, Pakistan’s per capita income rose noticeably to US $1,901 from US $1,751 in the previous year.
Economic Performance Summary (FY25 vs FY26)
| Economic Metric | Fiscal Year 2024–25 | Fiscal Year 2025–26 | YoY Change (%) |
| Total GDP (Current Market Prices) | Rs114.0 trillion ($408.2B) | Rs126.9 trillion ($452.1B) | +11.3% |
| Real GDP Growth Rate | — | 3.70% | — |
| Per Capita Income | US $1,751 | US $1,901 | +8.57% |
| Average Exchange Rate (Rs/USD) | 279.35 | 280.65 | +0.46% |
Private Investment Signals Long-Term Macroeconomic Stability
The investment-to-GDP ratio remained stable at 14.38 per cent, mainly supported by growth in private sector capital formation. At the same time, national savings were recorded at 14.13 per cent of GDP. This threshold effectively contained foreign savings at just 0.24 per cent of GDP, indicating a highly limited reliance on external financing for development.
Furthermore, Total Gross Fixed Capital Formation (GFCF) stood at Rs 16,071.2 billion, marking a 10.9 per cent increase over FY25. Crucially, private investment grew independently by 12.8 per cent. Economic analysts suggest this growth reflects vastly improved macroeconomic stability, providing a supportive foundation to sustain national growth momentum in the upcoming fiscal years.
