Pakistan, with an estimated GDP (nominal) of US$276 billion is the 41st largest economy of the world. Goldman Sachs has identified Pakistan as one of the ‘Next 11’ countries including Mexico, Nigeria, Egypt, Turkey, Iran, Pakistan, Bangladesh, Indonesia, Vietnam, South Korea and Philippines (along with BRICS), which can become the world’s large economies in the 21st century.
The country is strategically located at the crossroads of South Asia, East Asia, Central Asia and Middle East. More than 40% of entire global consumer base and an import market of US$ 2.15 trillion is available on its immediate borders. Pakistan’s own 220 million consumer base, the world’s 5th largest, and a youth bulge offers a potential demographic dividend. The institutional and regulatory reforms have improved the ease of doing business, culminating in a leap of 28 places in World Bank’s global ease of Doing Business ranking in 2019, making Pakistan one of the world’s top 5 business-climate improvers.