First five decades

First five decades

This is a chart of trend of gross domestic product of Pakistan at market prices estimated by the International Monetary Fund with figures in millions of Pakistani Rupees. See also

Year	Gross Domestic Product	US Dollar Exchange	Inflation Index (2000=100)	Per Capita Income (as % of USA)
1960	20,058	4.76 Pakistani Rupees		3.37
1965	31,740	4.76 Pakistani Rupees		3.40
1970	51,355	4.76 Pakistani Rupees		3.26
1975	131,330	9.91 Pakistani Rupees		2.36
1980	283,460	9.97 Pakistani Rupees	21	2.83
1985	569,114	16.28 Pakistani Rupees	30	2.07
1990	1,029,093	21.41 Pakistani Rupees	41	1.92
1995	2,268,461	30.62 Pakistani Rupees	68	2.16
2000	3,826,111	51.64 Pakistani Rupees	100	1.54
2005	6,581,103	60.40 Pakistani Rupees	126	1.71

Pakistan was a very poor and predominantly agricultural country when it gained independence in 1947 from Britain. Pakistan's average economic growth rate since independence has been higher than the average growth rate of the world economy during the period. Average annual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. Average annual growth fell to 4.6% in the 1990s with significantly lower growth in the second half of that decade.

Industrial-sector growth, including manufacturing, was also above average. In the late 1960s Pakistan was seen as a model of economic development around the world, and there was much praise for its economic progression. Later, economic mismanagement in general, and fiscally imprudent economic policies in particular, caused a large increase in the country's public debt and led to slower growth in the 1990s. Two wars with India in Second Kashmir War 1965 and Bangladesh Liberation War 1971 and separation of Bangladesh adversely affected economic growth. In particular, the latter war brought the economy close to recession, although economic output rebounded sharply until the nationalizations of the mid-1970s. The economy recovered during the 1980s via a policy of deregulation, as well as an increased inflow of foreign aid and remittances from expatriate workers.