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Assalam-o-Alaikum Everyone 🥰!
You are doing your best and you are really enjoying this community. Thank you very much @steemit-pak.
Today ,my post is on Educational Theme.
Friends, you are really enjoy my post and I'm sure it would be helpful for all of you. I'm the student of Economics . I thought that my post should be must on this topic. I chose this topic for my post.
Today my post is on a very important issue of Pakistan which every Pakistani has the right to know about. Is the economy of Pakistan. So I thought that today my readers should be informed about the economic situation of Pakistan. After reading which you can decide what is the current situation of Pakistan.
There are two world famous economic systems:
- Capitalism
- Communism
Something happens. If you look at it this way, Pakistan has a mixed economic system. Pakistan's economy is a mixed economy, so there is a lot of government interference. At the end, the Ministry of Finance presents on the orders of the Government of Pakistan.
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Image Source
Man's standard of living, his way of life, his economic situation clarifies. If his economic situation improves, he will enjoy all the comforts of life. Similarly, if we look at the economic condition of a country, we The living standards of the people were looked at which we will adapt to the GDP.
The country whose GDP is better has a higher standard of living. The country whose GDP is lower is a country suffering from poverty
Before I start, I will outline some of the key terms that, once understood, will make it easier to understand what you are writing about. The terms are as follows:
- GDP
- Investment
- Consumption
- Imports
- Exports
- Inflation
- Deflation
- Growth rate
- Investment
- Credit
- Debit
1-GDP
GDP stand for gross domestic products
GDP represent estimated value of all the goods and services produced within the countery in given period of time (in one year)
- GDP Formula
GDP =C + I +G+ (X-M)
C= private consumption
I = gross private investment
G= government spending
X= exports
M= imports
2-Consumption
Consumption is define as. Use of good and services by household.
3-Investment
Investment means use money to buy assets for profit.
4-Exports
Exports means soled goods and services to foreign countries.
5-Deflation
Deflation means decrease in gernal level prices.
6-Imports
Imports means brings or buying a goods from abroad.
7-Inflation
Inflation means the rise of gernal level of Prices.
8-Economic Growth
Economic growth is the increase in value of the goods and services produced by an economy over a period of time.
9-Credit
Credit is the money borrowed from a bank or lender based on the promise that the money will be paid back in future along with interest.
10-Debit
Debit is the amount you have lent to someone.
After reading about GDP in detail, you may have figured out how to measure the economy of any country in terms of GDP. The country's GDP has shrunk and the country's economy has suffered.
Now you have understood a lot about gdp. Now we describe the GDP of Pakistan, which will give us an idea of what stage Pakistan is at.
GDP of Pakistan
Pakistan Last Unit Reference
GDP 263.69 USD Billion Dec/20
GDP per capita 1168.3 4 USD Dec/20
GDP per capita PPP 4622.77 USD Dec/20
GDP From Transport 1588101.00 PKR Million Dec/20
GDP From Services 8041169.00 PKR Million Dec/20
GDP From Mining 309823.00 PKR Million Dec/20
GDP From Manufacturing 1667362.00 PKR Million Dec/20
GDP From Construction 340146.00 PKR Million Dec/20
GDP From Agriculture 2502181.00 PKR Million Dec/20
Reference
Image source
This graph describes the performance of Pakistan for five years. Looking at this graph, you will get a good idea of what stage Pakistan is at. I hope you like this post.
Thanks for Visiting my post.
Cc:
@haidermehdi
@hassanabid
@vvarishayy
@event-horizon
@salmanwains
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