Briefs on International Trade (BIT) 2022/[14] - Department of Commerce

13^th December 2022

Sri Lanka - Pakistan Economic Relations

Pakistan's economy is structured with private businesses and strong "for profit" state-owned enterprises (SOEs) in the sectors such as power, oil refinery, petroleum, gas, steel, transport, shipping, and airline. Major sectors of the country's economy include textiles, pharmaceuticals, agriculture and industrial sectors. As per an Economic survey launched by Pakistan's Finance Ministry, the country achieved a GDP growth of 5.97% during the year 2021-2022

A major development in Pakistan is that of the China Pakistan Economic Corridor (CPEC), under which ports and infrastructure in the province of Baluchistan are being developed and revamped. As per the CPEC authority, which is a China-Pakistan joint governing body, 88 projects have been announced, out of which 19 projects have already been completed whereas, 28 are under implementation. 41 projects are in the pipeline.

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