Pakistan to be 20th most powerful economy by 2030: PwC

[Devil Soul]

Pakistan to be 20th most powerful economy by 2030: PwC
Home / Business / Pakistan to be 20th most powerful economy by 2030: PwC
By Web Desk
February 08, 2017
Latest : Business

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• PWC released its predictions for the 32 most powerful economies in the world by 2050, based on their projected Gross Domestic Product by Purchasing Power Parity (PPP).
  
  The report, titled "The long view: how will the global economic order change by 2050?" ranked 32 countries by their projected global gross domestic product by purchasing power parity.
  
  Purchasing Power Parity (PPP) is an economic theory that compares different countries' currencies through a market "basket of goods" approach. PPP determines the economic productivity and standards of living of various countries over a period. Since market exchange rates fluctuate substantially, many economists consider PPP as a more precise way of estimating a country’s economy.
  
  The consulting firm also predicted 2050 GDP numbers based on market exchange ratings, an alternative method for GDP calculation. In these rankings, the US will lose global dominance by 2030, and the gap will only grow by 2050 with China having a nearly $50 trillion GDP, and the US having the same $34.1 trillion.
  
  Following is the list of top 32 economies by 2030:
  
  01. China — $38.008 trillion
  02. United States — $23.475 trillion
  03. India — $19.511 trillion
  04. Japan — $5.606 trillion
  05. Indonesia — $5.424 trillion
  06. Russia — $4.736 trillion
  07. Germany — $4.707 trillion
  08. Brazil — $4.439 trillion
  09. Mexico — $3.661 trillion
  10. United Kingdom — $3.638 trillion
  11. France — $3.377 trillion
  12. Turkey — $2.996 trillion
  13. Saudi Arabia — $2.755 trillion
  14. South Korea — $2.651 trillion
  15. Italy — $2.541 trillion
  16. Iran — $2.354 trillion
  17. Spain — $2.159 trillion
  18. Canada — $2.141 trillion
  19. Egypt — $2.049 trillion
  20. Pakistan — $1.868 trillion
  21. Nigeria — $1.794 trillion
  22. Thailand — $1.732 trillion
  23. Australia — $1.663 trillion
  24. Philippines — $1.615 trillion
  25. Malaysia — $1.506 trillion
  26. Poland — $1.505 trillion
  27. Argentina — $1.342 trillion
  28. Bangladesh — $1.324 trillion
  29. Vietnam — $1.303 trillion
  30. South Africa — $1.148 trillion
  31. Colombia — $1.111 trillion
  32. Netherlands — $1.08 trillion
  
  
  
  
  
  
  

 

[Sully3]

well done indonesia slowly they are becoming another japan

 

[Hyde]

In another words it asserts to the fact that we will continue to remain second largest economy of South Asia.

I think these figures do not count the potential of CPEC as frankly speaking I was trying to compare Pakistan's GDP from the IMF website and my calculations also came to similar conclusion without realising the potential of CPEC.

The GDP (PPP) stands at around 988 Billion USD in 2016 and it will likely be doubled in 8-10 years, you already reach that target. IMF projects that Pakistan's GDP will be around $1.4 trillion USD by 2021 but frankly speaking their estimations are based on the historical data and short term forecast when Pakistan was under performing (often between 1-3% growth in GDP).

So I guess it is likely with CPEC factor it will be able to create more jobs and higher spending power for the people and exceed expectations from the figures forecast by both IMF and PriceWaterCooper. IMF estimates the economy of Pakistan will grow at around 5% whereas we are hopefully CPEC will do 1-2% growth in the GDP easily taking it beyond 6-7% and the figures will change quickly.

 

[DrasticMeasure]

In another words it asserts to the fact that we will continue to remain second largest economy of South Asia.

I think these figures do not count the potential of CPEC as frankly speaking I was trying to compare Pakistan's GDP from the IMF website and my calculations also came to similar conclusion without realising the potential of CPEC.

The GDP (PPP) stands at around 988 Billion USD in 2016 and it will likely be doubled in 8-10 years, you already reach that target. IMF projects that Pakistan's GDP will be around $1.4 trillion USD by 2021 but frankly speaking their estimations are based on the historical data and short term forecast when Pakistan was under performing (often between 1-3% growth in GDP).

So I guess it is likely with CPEC factor it will be able to create more jobs and higher spending power for the people and exceed expectations from the figures forecast by both IMF and PriceWaterCooper. IMF estimates the economy of Pakistan will grow at around 5% whereas we are hopefully CPEC will do 1-2% growth in the GDP easily taking it beyond 6-7% and the figures will change quickly.

There is always room for improvements. Obviously it doesn't take into account major changes happening in the countries. But I still believe that CPEC is no magic wand. It will still take almost a decade before any major impact can be seen on the Pakistani economy.

 

[MultaniGuy]

Insh'Allah we will get there to 16th place.

 

[Hyde]

There is always room for improvements. Obviously it doesn't take into account major changes happening in the countries. But I still believe that CPEC is no magic wand. It will still take almost a decade before any major impact can be seen on the Pakistani economy.

It's already showing some impact for sure. The cement industries are unable to meet demand and are setting up new plants or enhancing their capacity. Most of the machinery is imported from China but the raw material is purchased domestically

Insh'Allah we will get there to 16th place.

If we are just able to meet India's growth rate, we will be right there on number 10 (by 2050) It seems impossible right now but you never know what future holds for you. With increased investment from China, you never know if another friendly nation pledges similar investment given favourable circumstances

 

[DrasticMeasure]

It's already showing some impact for sure. The cement industries are unable to meet demand and are setting up new plants or enhancing their capacity. Most of the machinery is imported from China but the raw material is purchased domestically

Well if that's the case I am happy for Pakistan. Pakistan's current growth rate is 4.4%. Let's see if it picks up and reaches Indian levels. I am an optimistic person. This region needs to grow and needs to grow faster.

 

[Hyde]

Well if that's the case I am happy for Pakistan. Pakistan's current growth rate is 4.4%. Let's see if it picks up and reaches Indian levels. I am an optimistic person. This region needs to grow and needs to grow faster.

You seems to have get this figure from Google Data. No the growth rate for last year was 4.7 with IMF forecast of 5% although they have been revising the growth rate upwards since last 2-3 years so it wouldn't be surprise if we see growth of around 5.2% to 5.4% as the GoP predicts 5.7% for this year

 

[RIP Pak LAW]

Well to me we need another CPEC type investment project(s) in a next decade than there is no stopping to us. Frankly speaking, we missed offshore IT investment boom in 2000's while countries like India and Philippines fully capitalized the opportunity.

 

[MultaniGuy]

It's already showing some impact for sure. The cement industries are unable to meet demand and are setting up new plants or enhancing their capacity. Most of the machinery is imported from China but the raw material is purchased domestically


If we are just able to meet India's growth rate, we will be right there on number 10 (by 2050) It seems impossible right now but you never know what future holds for you. With increased investment from China, you never know if another friendly nation pledges similar investment given favourable circumstances

Why use India as a benchmark. What about China's growth rate?

 

[VCheng]

You seems to have get this figure from Google Data. No the growth rate for last year was 4.7 with IMF forecast of 5% although they have been revising the growth rate upwards since last 2-3 years so it wouldn't be surprise if we see growth of around 5.2% to 5.4% as the GoP predicts 5.7% for this year

Please keep in mind that Pakistan needs to average about 7% growth each year to keep up with its population demands, just to break even. Any growth rate below 7% makes Pakistanis poorer.

 

[ito]

Why use India as a benchmark. What about China's growth rate?

Because India is growing faster than China

 

[proud_indian]

Why use India as a benchmark. What about China's growth rate?

because India's growth has a direct consequence on your security paradigm
The more India faster grows the more money it has to spend on defence, It's also inflates India's regional as well as International clout and In consequence of it pakistan feel itself more vulnerable and insecure.

So from the pakistani perspective they should grow at least what India has been growing otherwise the gap between two countries is just going to get bigger by each passing year.

look at the chart below to understand this

and then watch this video

so it's important from pakistan's perspective to maintain parity between two countries

 

[Areesh]

because India's growth has a direct consequence on your security paradigm
The more India faster grows the more money it has to spend on defence, It's also inflates India's regional as well as International clout and In consequence of it pakistan feel itself more vulnerable and insecure.

So from the pakistani perspective they should grow at least what India has been growing otherwise the gap between two countries is just going to get bigger by each passing year.

look at the chart below to understand this

and then watch this video

And what has this growing gap achieved for you? You are still whining even today for China blocking your resolutions against Masood Azhar.

Anyways the thread is about Pakistani growth and not how supa puwa India is.

 

[MultaniGuy]

And what has this growing gap achieved for you? You are still whining even today for China blocking your resolutions against Masood Azhar.

Anyways the thread is about Pakistani growth and not how supa puwa India is.

Excellent point there Areesh. India isn't even in the UNSC. And then they think their country is a superpower country