Pakistan records 11pc decline in per capital income during FY22-23

Islamabad: During the current fiscal year 2022-2023, the overall volume of the national economy witnessed a record decrease of $33.4 billion, with an 11 per cent decline in per capita income, ARY News reported on Friday.

According to details provided by the Pakistan Bureau of Statistics (PBS), the national economy recorded a significant decrease of $33.4 billion in its overall volume. During the current fiscal year 2022-2023, the economic size decreased from $375 billion to $341.6 billion.

The PBS officials stated that the current fiscal year witnessed a record decrease of $198 in per capita income for Pakistan, standing at $1,568.

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During the year 2022, the per capita income was $1,766, while it was $1,677 in 2021. This indicates an 11.38 per cent decrease in per capita income over the course of one year.

The PBS noted that improvements were observed in the healthcare sector, with an 8.3 per cent performance against an 8.49 per cent target.

Similarly, the education sector also showed improvement, with a 10.44 per cent performance against a 9.4 per cent target for education-related indicators. The Information and Communication Commission also surpassed its 6 per cent target with a performance rate of 6.93 per cent.

These figures shed light on the economic and performance indicators of various sectors during the fiscal year 2022-2023, reflecting the challenges faced and the progress made in different areas of the country’s development.