Key information about Pakistan Consolidated Fiscal Balance: % of GDP

• Pakistan Consolidated Fiscal Balance recorded a deficit equal to 3.7 % of its Nominal GDP in Jun 2024, compared with a deficit equal to 7.8 % in the previous year
• Pakistan Consolidated Fiscal Balance to GDP data is updated yearly, available from Jun 2000 to Jun 2024, with an average ratio of -5.0 %
• The data reached an all-time high of -1.7 % in Jun 2004 and a record low of -7.9 % in Jun 2022

CEIC calculates Consolidated Fiscal Balance as % of Nominal GDP from annual Consolidated Fiscal Balance and annual Nominal GDP. The Ministry of Finance provides Consolidated Fiscal Balance in local currency. The Pakistan Bureau of Statistics provides Nominal GDP in local currency. Consolidated Fiscal Balance as % of Nominal GDP is in annual frequency, ending in June of each year

Pakistan recorded a Government Budget deficit equal to 6.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Pakistan Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Pakistan Consolidated Fiscal Balance

• Pakistan Consolidated Fiscal Balance recorded a deficit equal to 13.794 USD bn in Dec 2024, compared with a deficit equal to 26.292 USD bn in the previous year.
• Pakistan Consolidated Fiscal Balance data is updated yearly, available from Dec 1991 to Dec 2024, with an average ratio of -7.447 USD bn.
• The data reached an all-time high of -2.258 USD bn in Dec 2004 and a record low of -29.641 USD bn in Dec 2022.

CEIC shifts year-end for annual Consolidated Fiscal Balance and converts it into USD. The Ministry of Finance provides Consolidated Fiscal Balance in local currency. The State Bank of Pakistan average market exchange rate is used for currency conversions. Consolidated Fiscal Balance is reported in annual frequency, ending in June of each year.

Pakistan recorded a government budget deficit of 7206.90 PKR Billion in 2024. This dataset provides - Pakistan Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Pakistan Fiscal Operations: Budget Deficit data was reported at -2,260.400 PKR bn in 2018. This records a decrease from the previous number of -1,863.800 PKR bn for 2017. Pakistan Fiscal Operations: Budget Deficit data is updated yearly, averaging -929.400 PKR bn from Jun 2010 (Median) to 2018, with 9 observations. The data reached an all-time high of 1,833.900 PKR bn in 2013 and a record low of -2,260.400 PKR bn in 2018. Pakistan Fiscal Operations: Budget Deficit data remains active status in CEIC and is reported by State Bank of Pakistan. The data is categorized under Global Database’s Pakistan – Table PK.F007: Consolidated Federal and Provincial Budgetary Operations (Annual).

In 2024, the budget balance in relation to the gross domestic product (GDP) in Pakistan stood at about -6.78 percent. Between 1993 and 2024, the figure dropped by approximately 1.25 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the budget balance will steadily grow by around 3.87 percentage points from 2024 to 2030.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

This federal Public Expenditure Review (PER) analyzes the key drivers of Pakistan’s fiscal deficits and explores how the Federal Government can regain fiscal and debt sustainability, in accordance with the fiscal rules set forth in the FRDLA 2005. The report builds upon previous studies, provides new and updated analysis, and suggests policy measures for fiscal consolidation that could bring the fiscal deficit to under 3.5 percent of GDP and public debt below 60 percent of GDP, as stipulated by the FRDLA 2005. This is the first PER report since 2010 and it is the first federal-level PER since the implementation of the 18th Constitutional Amendment and the 7th National Finance Commission (NFC) Award in 2010, which represented a major shift in the country’s national fiscal architecture. While there have been three provincial PERs since 2010, there has not been a federal-level PER released since then, presenting a substantial knowledge gap.

This federal Public Expenditure Review (PER) analyzes the key drivers of Pakistan’s fiscal deficits and explores how the Federal Government can regain fiscal and debt sustainability, in accordance with the fiscal rules set forth in the FRDLA 2005. The report builds upon previous studies, provides new and updated analysis, and suggests policy measures for fiscal consolidation that could bring the fiscal deficit to under 3.5 percent of GDP and public debt below 60 percent of GDP, as stipulated by the FRDLA 2005. This is the first PER report since 2010 and it is the first federal-level PER since the implementation of the 18th Constitutional Amendment and the 7th National Finance Commission (NFC) Award in 2010, which represented a major shift in the country’s national fiscal architecture. While there have been three provincial PERs since 2010, there has not been a federal-level PER released since then, presenting a substantial knowledge gap.

Pakistan recorded a Current Account surplus of 268 USD Million in the second quarter of 2025. This dataset provides - Pakistan Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Pakistan recorded a Current Account deficit of 0.50 percent of the country's Gross Domestic Product in 2024. This dataset provides - Pakistan Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This federal Public Expenditure Review (PER) analyzes the key drivers of Pakistan’s fiscal deficits and explores how the Federal Government can regain fiscal and debt sustainability, in accordance with the fiscal rules set forth in the FRDLA 2005. The report builds upon previous studies, provides new and updated analysis, and suggests policy measures for fiscal consolidation that could bring the fiscal deficit to under 3.5 percent of GDP and public debt below 60 percent of GDP, as stipulated by the FRDLA 2005. This is the first PER report since 2010 and it is the first federal-level PER since the implementation of the 18th Constitutional Amendment and the 7th National Finance Commission (NFC) Award in 2010, which represented a major shift in the country’s national fiscal architecture. While there have been three provincial PERs since 2010, there has not been a federal-level PER released since then, presenting a substantial knowledge gap.

Pakistan: Trade balance, billion USD: The latest value from 2023 is -21.65 billion U.S. dollars, an increase from -37.63 billion U.S. dollars in 2022. In comparison, the world average is 4.81 billion U.S. dollars, based on data from 148 countries. Historically, the average for Pakistan from 1976 to 2023 is -10.75 billion U.S. dollars. The minimum value, -40.9 billion U.S. dollars, was reached in 2021 while the maximum of -0.41 billion U.S. dollars was recorded in 2002.

Key information about Pakistan Current Account Balance: % of GDP

• Pakistan Current Account deficit accounted for 0.5 % of the country's Nominal GDP in Jun 2024, compared with a 1.0 % deficit in the previous year.
• Pakistan Current Account Balance: % of Nominal GDP data is updated yearly, available from Jun 1977 to Jun 2024, with an average value of -2.8 %.
• The data reached an all-time high of 3.6 % in Jun 2003 and a record low of -6.9 % in Jun 2008.

CEIC calculates Current Account Balance as % of Nominal GDP from annual Current Account Balance and annual Nominal GDP. The State Bank of Pakistan provides Current Account Balance in USD. The Pakistan Bureau of Statistics provides Nominal GDP in local currency. The State Bank of Pakistan average market exchange rate is used for currency conversions. Current Account Balance as % of Nominal GDP prior to 2003 is calculated from Current Account Balance sourced from the International Monetary Fund and Nominal GDP sourced from the World Bank. Current Account Balance as % of Nominal GDP is in annual frequency, ending in June of each year.


Key information about Pakistan Current Account Balance: % of GDP

• In the latest reports of Pakistan, Current Account recorded a deficit of 131.0 USD mn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 219.2 USD mn in Nov 2024.
• Pakistan Direct Investment Abroad expanded by 1.0 USD mn in Sep 2024.
• Its Foreign Portfolio Investment increased by 133.0 USD mn in Sep 2024.
• The country's Nominal GDP was reported at 341.3 USD bn in Jun 2023.

COVID-19 has pushed the global economies towards a recession. The synchronized nature of the downturn has amplified domestic disruptions around the globe. Globally, trade contracted by close to –3.5% (year over year) in the first quarter, reflecting weak demand, the collapse in cross-border tourism, and supply dislocations related to shutdowns (exacerbated in some cases by trade restrictions). Pakistan has also been affected by the unprecedented health and economic shocks caused by the outbreak of Coronavirus with smart lockdown. During the current fiscal year, Pakistan’s economy has undergone a sharp contraction with a growth of -0.38%. Cognizant of the extended duration and uncertainty of the COVID-19 worldwide, the government of Pakistan has chalked out sector-specific policy interventions and structural reforms to cope with the situation. Government is constantly monitoring the international and domestic conditions to ensure stabilization to stir growth in this challenging environment. Pakistan’s trade deficit witnessed significant reduction during the FY2019-20, declining by 27.12% as compared to the previous year. The Country’s trade deficit during FY2019-20 stood at $23.180 billion against the deficit of $31.805 billion during FY2018-19. During FY2019-20, country’s exports registered approximately 6.81% decline, falling from $22.958 billion last year to $21.394 billion during the current year, whereas the imports decreased from $54.763 billion to $44.574 billion, showing a sharp decline of 18.6%. Effort has been made to make this report comprehensive, informative and a useful document for researchers, planners, economists and other beneficiaries at large. Further questions, clarifications, comments, feedback and suggestions on this report are welcomed.

Public debt stability.

This federal Public Expenditure Review (PER) analyzes the key drivers of Pakistan’s fiscal deficits and explores how the Federal Government can regain fiscal and debt sustainability, in accordance with the fiscal rules set forth in the FRDLA 2005. The report builds upon previous studies, provides new and updated analysis, and suggests policy measures for fiscal consolidation that could bring the fiscal deficit to under 3.5 percent of GDP and public debt below 60 percent of GDP, as stipulated by the FRDLA 2005. This is the first PER report since 2010 and it is the first federal-level PER since the implementation of the 18th Constitutional Amendment and the 7th National Finance Commission (NFC) Award in 2010, which represented a major shift in the country’s national fiscal architecture. While there have been three provincial PERs since 2010, there has not been a federal-level PER released since then, presenting a substantial knowledge gap.

External Debt in Pakistan decreased to 130310 USD Million in the first quarter of 2025 from 130921 USD Million in the fourth quarter of 2024. This dataset provides - Pakistan External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Pakistan External Debt: Short Term: % of GDP

• Pakistan External Debt: Short Term accounted for 0.9 % of the country's Nominal GDP in 2024, compared with the ratio of 0.9 % in the previous year.
• Pakistan External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 2006 to 2024.
• The data reached an all-time high of 1.6 % in 2020 and a record low of 0.0 % in 2007.

CEIC calculates Short Term External Debt as % of Nominal GDP from quarterly Short Term External Debt and annual Nominal GDP. Short Term External Debt is calculated as the sum of the Short Term External Debt breakdowns for Government Debt, Public Sector Enterprises Non Guaranteed Debt and Scheduled Banks Borrowing. The State Bank of Pakistan provides Short Term External Debt in USD. The Pakistan Bureau of Statistics provides Nominal GDP in local currency. The State Bank of Pakistan average market exchange rate is used for currency conversions. Short Term External Debt as % of Nominal GDP is in annual frequency, ending in June of each year.


Related information about Pakistan External Debt: Short Term: % of GDP

• In the latest reports of Pakistan, Current Account recorded a deficit of 131.0 USD mn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 219.2 USD mn in Nov 2024.
• Pakistan Direct Investment Abroad expanded by 1.0 USD mn in Sep 2024.
• Its Foreign Portfolio Investment increased by 133.0 USD mn in Sep 2024.
• Pakistan External Debt: Short Term value stood at 3.5 USD bn in Jun 2024.
• The country's Nominal GDP was reported at 341.3 USD bn in Jun 2023.

Pakistan recorded a trade surplus of 6.79 PKR Million in July of 2025. This dataset provides - Pakistan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Correlation matrix & VIF.