Established in 1949, the Islamic Republic of Pakistan is home to 205 million people, making it the world’s sixth largest country by population. Located at the strategically important crossroads between South Asia, the Middle East and Central Asia, Pakistan shares borders with India, China, Afghanistan and Iran.
One of the Next Eleven economies predicted to dominate the world economy of the 21st century, Pakistan is the world’s 23rd largest economy by PPP and 38th by GDP. The port city Karachi is the country’s chief economic centre.
Pakistan is a semi-industrialised economy. The country’s main export partners are the USA, the UK and China. Textiles are the country’s primary export, followed by food and petroleum products. Pakistan has large reserves of copper, oil and gas.
Agriculture dominates the Pakistani economy, employing around 42% of the workforce. Wheat, cotton and rice are among the country’s most important agricultural products.
Recent indications are that the Pakistani economy is in robust health, as a result of the economic reforms of the early 2000s. Household consumption, investment and credit growth are the economy’s chief driving forces. Remittances from Pakistan’s large diaspora are another important source of income.
HLB’s local team in Pakistan aspires to be the most highly regarded accounting and advisory firm in the country, through the growth of our people and of our clients. We are commited to serving a wide range of clients looking to do business in Pakistan.