Pakistan's per capita income increases by 0.5pc to $1641

ISLAMABAD:  According to the Economic Survey of Pakistan, the per capita income of the country during financial year 2017-18 increased by 0.5 percent to $1641.

The Economic Survey of Pakistan 2017-18 was unveiled  by Prime Minister’s Adviser on Finance Miftah Ismail along with Planning Commission Minister Ahsan Iqba on Thursday.

As per Pakistan Bureau of Statistics, per capita income during 2017-18 is Rs 162,230 ($1641) based on provisional figures of Population Census 2017 held in March 2017.

The revised series of per capita income will be compiled after finalization of 6th Housing and Population Census results.

Per capita income is one of the most widely used measures of the general well being in an economy.

It is computed by dividing Gross National Income (GNI) by population while GNI is obtained by adding Net Factor Income from abroad in GDP at market price.

Pakistan’s economy is set to record its fastest growth since 2005 during the current fiscal year, authorities said Thursday. But the projected 5.8 percent growth rate means the government will still miss its six percent target.

"We would have achieved 6.1 percent without political turmoil," Minister for Planning and Development Ahsan Iqbal said while launching the Pakistan Economic Survey 2017-2018.