Pakistan emerged among Top 5 Remittance Recipients in the Region – ADB

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In its latest report, the Asian Development Bank stated that Pakistan has emerged among the top 5 remittance recipients in the region last year. However, Pakistan’s exports dropped down to 8.5% from double-digit in almost over a decade

In the 50th edition of key indicators for Asia and the Pacific 2019 ADB said, “The region’s top five recipients of remittances in 2018 were India ($78.6 billion), China ($67.4 billion), the Philippines ($33.8 billion), Pakistan ($21 billion), and Viet Nam ($15.9 billion).”

In comparison to 13.5 percent of exports of GDP in 2010, 14.3% in 2001 and 12.1% in 2000, in 2018 they were 8.5% of the GDP. Imports of goods and services were 13.2% of GDP in 2000 compared to 19.4% of the GDP in 2018.

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In the last 18 years, the industrial value-addition in Pakistan has been roaming around 5 to 6%, as per ADB. The real value addition growth rate stood at 5.8% in 2018 in comparison to 5.4%, 5.7%, 5.2%, 4.5%, 0.8%, 3.4%, 6.5% and 5.8% in 2017, 2016, 2015, 2014, 2013, 2010, 2005, and 2000 respectively.

According to the report a quarter of Pakistani companies have experienced at least one bribe payment request. Other than this, Pakistan is among the nations that have received largest amounts of financial and technical assistance.

ADB said, “From 2000–2008 to 2009–2017, the value of average financial and technical assistance more than doubled in 14 of the 41 reporting economies. In absolute terms, the largest increases occurred in Afghanistan ($843 million), Indonesia ($669 million), and Pakistan ($529 million).”

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