The National Accounts Committee approved revised quarterly and annual economic growth figures, reporting updated GDP estimates for fiscal years 2023-24, 2024-25, and 2025-26.
The meeting was held at the Pakistan Bureau of Statistics headquarters in Islamabad, chaired by the Secretary of the Ministry of Planning, Development and Special Initiatives.
Quarterly GDP revisions
The committee approved revised GDP growth of 3.92 percent for the first quarter and 4.05 percent for the second quarter of fiscal year 2025-26, based on updated national accounts data.
These figures were higher than earlier estimates of 3.63 percent and 3.89 percent, reflecting updated data across agriculture, industry, and services sectors, following revisions made during the committee meeting.
Agriculture growth in the first quarter rose to 2.95 percent after revisions in crops and fishing, despite livestock growth being adjusted downward, according to updated estimates presented by officials during.
Industrial growth for the first quarter was revised down to 7.80 percent due to lower estimates in construction and energy-related sectors, after incorporating new data from relevant reporting institutions.
Services growth in the first quarter increased to 3.16 percent, supported by improved performance in information and communication activities, as revised data indicated stronger sectoral recovery.
Third quarter performance
The economy recorded growth of 3.99 percent in the third quarter of fiscal year 2025-26, with all major sectors contributing positively to overall performance.
Agriculture expanded by 3.01 percent, with positive growth recorded across crops, livestock, forestry, and fishing activities during the third quarter of the fiscal year period.
Industrial output grew by 4.65 percent despite declines in mining and energy sectors, supported by strong performance in large-scale manufacturing activities during the reported third quarter period.
The services sector recorded growth of 4.18 percent, with all components including trade, transport, education, and health contributing positively to overall economic performance.
Annual GDP estimates
The committee confirmed final GDP growth for fiscal year 2023-24 at 2.62 percent, with agriculture growing strongly while industry recorded a contraction during that period as officially reported.
Revised GDP growth for fiscal year 2024-25 was reported at 3.18 percent, reflecting improvements in industrial and services sectors compared with earlier official estimates during the latest meeting.
For the ongoing fiscal year 2025-26, provisional GDP growth was estimated at 3.70 percent, based on updated performance across all major sectors as compiled in latest national accounts.
Agriculture is projected to grow 2.89 percent, supported by increases in livestock, crops, forestry, and fishing activities during the year according to provisional estimates released by the committee.
Industrial growth is estimated at 3.51 percent, driven by manufacturing gains despite contraction in electricity, gas, and water supply sectors while services growth is projected at 4.09 percent.
Economic size and income
The size of economy reached 126.9 trillion rupees, equivalent to 452.1 billion dollars, compared with 114.0 trillion rupees recorded during the previous fiscal year period.
Per capita income was estimated at 533,629 rupees, equivalent to 1,901 dollars, based on population projections derived from the 2023 national census data released by authorities.
