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Pakistan

Capital City: Islamabad
%T:%M %A in Islamabad
Pakistani authorities have been setting up some reforms for several years, which result in a fast and steady growth of the country's economy. GDP growth rate was 6.4% in 2004 and 7.4% in 2005. The IMF forecasts a 6.5% growth in 2006. The economy is driven by agriculture and is consequently submitted to climatic hazards. Strong military tensions between India and Pakistan and terrorist attack risks partly explain the limited level of foreign investments in the country. By supporting the United States in fighting terrorism, Pakistan received an international financial aid which is a determining factor for the country's economy. The country has to face a precarious social situation with 30% of the population living below the poverty line.

Agriculture sector is Pakistan economy's pillar, by providing a fourth of the GDP and employing about 50% of the active population. Pakistan is the world's fourth largest cotton producer. Cereals and sugarcane are other principal crops. Agriculture has to face persistent water shortages. The country holds abundant natural resources, copper, oil and gas being the most exploited. 40% of oil consumed in Pakistan is imported. The manufacturing industry provides 20% of the GDP, given that textile and sugar refinery sectors are the two main activities. Maritime transport is also a sizeable activity.

Its first three export countries are the United States, the United Arab Emirates and United Kingdom. Exports are mainly focused on clothing and textile products.
Pakistan's first three import partners are Saudi Arabia, the United Arab Emirates and the United States. The country mainly imports hydrocarbons, capital goods, chemical and food-processing products.

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