ISLAMABAD—The foreign exchange reserves of Pakistan reduced significantly in the first year of Pakistan Tahreek-e-Insaaf (PTI) Government which were nearly half of the reserved maintained by Pakistan Muslim League (N) during its last three years of government, according to “The Key Indicators for Asia and the Pacific 2019” released by Asian Development Bank (ADB) on Wednesday.
The ADB reports pointed out that the foreign exchange of Pakistan stood $ 8.76 billion in 2018 which was $ 15.2 billion (2017), $ 19 billion (2016) and $19 billion (2015).
The report indicates that the exchange rate was highest in last 19 years. In 2018, the exchange rate against UD dollar was Rs 138.8 which was Rs 110.4 in 2017-the last parliamentary year of PML-N.
The size of total external debt outstanding and disbursed was also high in 2018 as compare with previous years. In 2018, it was $84.5 billion as compare with 2017 which was $ 72.1 billion. This shows an increase of $12.3 billion during the first year of PTI Government. The long term debt also increased from $57.8 billion to $68.2 billion. The external debt (percentage of GNI) increased from 24.4 percent in 2017 to 26.3 percent in 2018.
The balance of payment was also increased from 0.6 percent of GDP in 2017 to 2.2 percent of GDP in 2018.
The import volume from China was increased to $60.2 billion in 2018 from $57.2 billion in 2017. China was the top country out of ten where Pakistan is importing goods and services.
The total revenue of the government in 2018 decreased to 15.2 percent of GDP from 15.5 percent in 2017. Despite half percent to GDP increased was registered in 2018 as compare with 2017, the total expenditure remained 21.6 percent to GDP in both corresponding years.
The average price of all consumer items also increased in 2018 as compare with previous years. Health, transport, communication, education food, clothing etc registered significant increase.
Unemployment rate in 2018 swelled to 2.4 percent as compare with the 2015 which was 1.6 percent.
The Asian Development Bank (ADB) today released the 50th edition of its annual statistical report, Key Indicators for Asia and the Pacific 2019, and an online database, Key Indicators Database.
Key Indicators 2019 presents the latest statistics on a comprehensive set of economic, financial, social, and environmental indicators, including for the Sustainable Development Goals (SDGs) for the 49 regional members of ADB. The Key Indicators Database offers access to more than 1,000 statistical indicators from the year 2000 onwards in a user-friendly and accessible interface.