Pakistan has achieved the growth rate of 5.3% at the closing of the fiscal year 2016-2017; the said duration is considered to have achieved the highest economic growth. This has largely become possible because of the valuable commodities of Pakistan. Now Pakistan has joined the list of those economies that have worth of three hundred billion dollars. According to the international monetary fund, the gross domestic product (GDP) of Pakistan is $1.061 trillion; this is based on purchasing power parity.
Top commodities of Pakistan:
Given below are the other top commodities of Pakistan that are exported and have a great value for the economy of the country:
Gold in Pakistan:
On technical grounds, the rates of gold in Pakistan closed flatly on the basis of technical grounds. The predicted price of gold in future is still expected to be firm as it is in the leading hands. As compared to the previous session of trading, gold closed at $1337 for an ounce.
Silver in Pakistan in known as Chandi; silver is not only precious metal, but it is also used for investment purposes. At present 1 tola silver is being traded for Rs 770. As the prices of gold are very high and not affordable for every person, therefore small investors tend to buy silver preferably.
Pakistan is the third largest exporter of cotton in the world. Over 1.3 million farmers are involved in the cultivation of cotton crop. There are almost 400 textile mills of cotton. However, despite all this, the domestic price of cotton is relatively low.
In Ikhalas region near Attock, Pakistan has discovered the largest oil reservoir. According to some authentic sources, this discovery can contribute toward the solution of energy crisis. Hence, this can make the economy of Pakistan a lot better; however, it is going to take years before the potential is harnessed.
Textile industry of Pakistan has lent it a supportive hand in all hard times. The total exports of miscellaneous textiles including worn clothing reach approximately 20.1% of total exports. There is a significant need for improvement of exports in crochet knitting to improve this industry.
Pulses and spices:
There are a number of pulses and spices available in Pakistan and they are being exported in bulk quantity to various countries. Moreover, some companies also offer the opportunity to export rice in consumer packs in small quantities of 1, 2, 5, 10 or 20 kg.
Dry fruits of best quality are found in Pakistan. The dry fruits are perfect in not only their taste, but also for their original color. The important dry fruits exported from Pakistan include cashew, peanuts, apricot, almonds and dry dates, among others.
Agro and foods:
Pakistan is the one of the largest trader of agro commodities. This includes an extensive range of pulses, spices and oil seeds as well. Investors have reliable contracts worldwide where these commodities are exported.