The Failing Economy of Pakistan | Economics Explained
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- čas přidán 27. 05. 2024
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Pakistan's economy has recently come under pressure due to high levels of debt, currency devaluation, floods, and high prices for imported food and energy. So how bad are things likely to get and what are the possible solutions?
0:00 - 3:34 Intro
3:35 - 5:49 Emerging market debt
5:50 - 6:45 Advanced economies
6:46 - 7:50 Pakistan's vulnerability
7:51 - 11:00 Asian financial crisis
11:01 - 12:00 Pakistan's previous resilience
12:01 - 14:46 Why Pakistan is struggling today
14:47 - 17:00 Solutions
17:01 National leaderboard
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PAKISTAN'S map is misrepresented. Additionally Food crisis happen due to recent flood in the country's rural agricultural land. Standing crop fell.
The map is incorrect
@@muhammadomar1319 PAKISTAN'S map is misrepresented. Additionally Food crisis happened due to recent flood in the country's rural agricultural land. Standing crop fell.
Country with lazy and complainants always shrink. Only innovative and of creative mindset prosper.
Always wanted you to do a video about Pakistan but a bit positive one. But then not much positive things about it
Fun Fact: Not even a single Pakistani prime minister has ever completed their term.
Thanks for informing 😂
Sounds like the Defense against the Dark Arts post in Hogwarts
nawaz sharif?
@@rayhankhan8992 no.. even he didn't cover
@@mahdh_ 😭😂😭😂
*CZcamsr :- mentions pakistan*
Gets views from pakistan
*Mentions its failing*
Gets views from India
*CZcamsr :- stonks📈*
Lol
😂😂😂
Funny that graph looks like Pakistan map geographically.
@@megha8783 Hey Megha
How Are You ?
Long time baad mile internet pe
Kesa raha Tumhara Neet PG ❓
@@DoctorIdeopathic -- Simp Pro Max. 😂
For anyone who is well informed about South Asia, the real question is not what is happening to Pakistan, it is how in the WORLD is Pakistan still going.
I am curious as to why you think that?
No PM ever completed term, military making economic policy, diapers, cement@@rahimnawab5991
The country is going on only because it acts as a counterweight to India, whenever Pakistan gets on verge of getting in default USA give it loans to keep it going more, and lately that's been done by China now, the strong military leadership at top has radicalised the population on the basis that India is a threat to them so they have to stay in power, so people are afraid to ever protest against military and even when protests occur military with their guns shut them down. Pakistan exists as long as outer countries keep giving them money, once China or US or any other power loses their interest in Pakistan the economy would collapse and the country will break apart
@@NovelTuber that is a pretty accurate description of the situation. Also, Pakistan & it’s Military’s disgusting alignment with the US gives the US direct access to Central Asia in return for giving the Pak Military unlimited power to laud over its citizens
@@NovelTuberabsolutely wrong, Pakistan's economy runs bcz of its black economy which is greater than its formal economy
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Asking for loans is halal, but repaying them is haram as per PM of Pakistan.
Lol
Lol
wassup Satan 😂
😂😂😂
@@shahbaz199X wassup rakshas 😂😂😂😂😂
Ranking Pakistan slightly above Brazil doesn't make much sense. Brazil doesn't need a bailout, its economy is larger, its per-capita GDP is 5x greater, and it has a well-established industrial base. Perhaps this expresses a flaw in the economic leaderboard concept, that snapshots of national economies taken at different points in time aren't truly comparable.
No Brazil's per capita is 3 timer higher not 5 times
Even natural resources! Even they have there own good amount of oil + they use 85 % ethnol blend flex engine's
Pakistan has been begging since 1947 pakistan doesn't have economy it's been living on foreign aid. Why work when u can beg lol
@@hke.4475 3x is still A LOT
every one over estimates Pakistans stollen nuclear prowess. Bluff will be called soon and you will see Pakistan align more with Sudan and Afghanistan
I live in pakistan in the city of rawalpindi and I know that the situation here is a lot worse than you expect.
Army rule mei ye hi hota hai.
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I love how even EE points out that the biggest privilege in the world is the ability to be an idiot without financial ruin.
I'd argue that just kicks the can down the road so that future idiots are slightly more punished.
Permissive society in a nutshell.
Well if your tail risks are covered then you can act as stupid as you want without risk of ruin.
@@JK-mp1mg source?
"Luck is a superpower."
Quote from Deadpool movie.
the unhealthy influence of military on each and everthing makes the matters worse.
More like religion
@@_hunterz_ Of course because of religion.
@@_hunterz_ British?
@@krishnkant9477 nope not religion biased
No slims country can be rich without natural resource, they are just too dumb.
What a wonderfully objective account! Negative and positive aspects explained clearly, like a good professor. I learned a lot.
literally been waiting for a video like this since ages
Pakistan being ranked higher than Brazil, Argentina and Turkey doesn't make much sense to be honest. Those countries have much more sophisticated industries, higher GDP per capita, etc.
Turkey currently has a inflation rate of 100%
Current situation doesn't matter, the trajectory of the country matters. Turkey has ridiculous levels of inflation and Argentina and Brazil have stagnated for decades, to a lesser or greater degree. Pakistan, on the other hand, was a growing economy until the pandemic and still has a burgeoning population, who will contribute to economic growth in the near future. Even if each of those people produces half as much as the average Brazilian or Argentine, it would still leave Pakistan a lot richer than both in the future. A country can be rich even if its citizens are not. India is a far richer country than Brazil, for instance, although the average Brazilian is much richer than the average Indian. This is, of course, assuming that the current economic crisis doesn't lead to a political collapse in Pakistan.
That's because Pakistan's ex daddy USA has given pakistan more than 30 billion dollar as aid since 2001 not only aid US helped pakistan to grow it's economy by controlling pakistan rupee dollar exchange rate like it did in Afghanistan after US invasion of Afghanistan US made Afghanistan currency more value like afghan currency is equal to 1 Indian rupee. Pakistan doesn't have sophisticated industries some cottage industries
@@zetaforever4953 in nominal terms Pakistan's economy has not grown since 2015. accounting for the free market exchange rate of 300 it's gdp is the same as in 2015.
In ppp terms Pakistan's economy grows at 4 percent but population grows at 3 percent so per Capita growth is hardly 1-1.5 percent which is low for a developing country
I don't know about others but Caliph of Riyasat-e-ottomani Erdogan Dilris Ertugul is on the prowl. Ummah will unite to pay back loans to IMF.
Just watched this episode. All good but it fails to explain the major cause of Pakistan's economic collapse i.e. Corruption at institutional level by military. The reason Pakistan's economy was flourishing till 2018 was because USA was in Afghanistan, and Pak was indirectly getting US dollars for it. As soon as taliban took control and US left Afghanistan, the main source of dollars disappeared overnight, putting pressure on local business to generate revenue especially dollars. As a result forex depleted. Also the rise of security threat from Afghanistan added additional stress on Pakistan.
‘Indirectly getting dollars’, mate what?
@@kockorzo US of A pumped billions into pak generals and establishment for help in afghanistan. directly in forms of aid etc and indirectly too. unfortunately they took the role of client state for big powers instead of putting a solid feet and foundation decades ago.
@@kockorzo We paid Pakistan to use their overland routes for supplying our forces and the Afghan forces. Once we left, we had no need to pay for this.
Actually most of the money was form china at that time
Very well compiled comment 👍
Great video. I also want to add that military expenditure has been the highest expenditure item in Pakistan’s budget for a while, and still continues to be so.
This is why we Bangladeshi separated from being a part of this cursed Nation... As a son of Bir Mukti Joddha ( freedom fighter ) it's a pleasure to see the current situation of Porkistan...
Pakistanis are Paying today for what they did to the Bangladeshis back in the 1960s and 1971.
I wish to see how Pakistanis feel when the countries which they used to be a part of are and wanted to separate from are doing way better than they are.
@@gouthamsudheer2080 Ey cmon I didn't do any of that :(
@@VMRDY I feel good ngl.
Pakistan hasn't still gotten the basics right
Without stable government whatever you do will not matter so unless they can seperate their military from the governance it will continue to fail
i can't believe this guy unironically ranked pak higher than sri lanka on the leaderboard i don't care how much economics you have studied if you truly believe that then idk what to say sri lanka had the highest per capita income of all desi countries and they will actually bounce back unlike the country mentioned in the video
@@JustAPokemonCommentingOnVideos Well Pakistan has not (yet) defaulted and Sri Lanka has so it's a clear answer there. Its one thing for banks or companies to default but for a the entire country itself that is a very very big problem, how can any foreigner trust investing even 0.01 cent? They may never get it back right? So that kills all trust. It can take a long time to get trust back.... China might not care about trust because they want power and control so for them default might actually be positive but even China at some point might say, that is enough money wasted on games of power, no more.
@@JustAPokemonCommentingOnVideos GDP per capita is not everything. Unless your economy has some significant scale, the per capita numbers are always going to be flawed. Just a few hundred extremely wealthy (corrupt) individuals can throw you GDP per capita numbers for a toss. That doesn't mean the country whole country started doing good. ✌️
@@drscopeify didn't pak declare bankruptcy recently??
@@JustAPokemonCommentingOnVideosyou know it's easier for a small country with small population to have more GDP per capita than larger countries where you don't have to spend on sectors like military(how much you spend a larger country will easily defeat you). Also it's easier to focus on local problems better in a small country. But lastly most of the growth in Sri lanka was fueled by debts specially chinese debts who don't care much about defaults(they need influence in the region)
You missed one major point. Big % of Pakistan's economy was boosted by Foreign Aid coming from Western countries (mainly U.S.) and China. But as the interest of these countries are now moving more towards Indo-Pacfic region so that source of income for Pakistan is also declining.
No aid only debt was given by US and China
Agreed
Now that america is out of Afghanistan they don’t need to be chummy with Pakistan to get access to the country. So as America leaves Afghan they are leaving Pakistan.
@@Normalguy1690 Agreed, good insight.
I thought to write the same some 20+ billion came after 2000s
Nice video. I actually learned a thing or two!
Pakistani here. Would like to add a few comments:
* 11:41 Pakistan's economy was resilient on paper. The military aid Pakistan got was mostly funnelled into consumption lead growth. Source: Bust, boom, and bust - Mush’s Muddy economic footprint | Profit Explains
* 13:12 the building on the bottom left has been "under construction" for more than 10 years. It is location at one of the most prime locations of Lahore. Yet, it remains empty, not being used to add value to the economy. This issue is not only with this building, but a lot of land through out the country.
* 13:27 Freezing petrol and electricity prices was a political move. PM Khan knew he was going to be overthrown soon, so he laid out the trap. When the new gov came into power they were hesitant to correct course for months, as they believed it would be an unpopular move. In the meanwhile, the gov burned a significant amount of our foreign reserves.
* 14:12 In order to resume the IMF program, the gov is no longer controlling the exchange rate.
* 4.2 seems a bit generous, especially compared to Turkey's 3.8.
You dont seems like a pakistani. All those points are very accurate and i dont see anyone online to admit these. I dont normally comment on pakistan related since i am an indian but may be its my bias according to which these are quite accurate points.
Exactly.
Not to mention the most Radicalised Population on earth & increase in Terrorism.
Dude u must be few pakistanis that still has brain
@@vikas776 another Pakistani here. All hope is lost and we have been completed f*cked by the politicians who only care about bashing the opposition. Nothing is being done in the agricultural sector which is one of most economically significant sectors of Pakistan.
@@vikas776 He is indeed a Pakistani, troubled when his country is rated above Turkey :D
You forgot to mention the clusterfuck that is Pakistan's political and economic situation my man. Those affect investor and economic confidence. And the inflation and corruption... let's not talk about them.
Investor??? there was $0 of investment in Pakistan since a decade. Only investment was chinese loans which are all defaulted
I really dont like the videos on this channel for reasons like you mentioned. Alot of the comparisons are overly simple and alot of nuance that may be as relevant as the discussed hypotheticals gets ignored.
Im past the point of giving economists credit or accolades for their field of study. I see economics as a soft science and most of its ideas unravel with the same scrutiny we apply to popular social science ideas.
@@zachweyrauch2988 it's just very hard to study the most complex thing in the known universe - a human brain. And even harder to study billions of them interacting in a real world environment.
@@Theactualstoic nah pakistan gets 3 billion of investments per year
Its just a non political economic analysis, rather simple and watered down to be fair however that's what makes the videos enjoyable.
I'm sure it would take a lot of effort and research to make a holistic report on the country including historical political and ideological issues. It would be severely draining and more documentary style.
This form of content is more focused on economic principles and he shows them in action in economics.
Very well researched and informative video. Nice 👍
Great video!
India looking at all its neighbours fall like dominos:
👁️👁️
. 👄
bro its depressing , we are surrounded by bankrupt nations ...! Millions of bangladeshis refugees are already living illegally in india ....!
@@manik6621 yeah it's actually not good ! 😢! Refuge Crisis and all these small thing's gonna big in future
@@manik6621 literally in my area in a flower Company there 100s of Bangladeshis live from last 10 years ! Every year new families come a agent always bring new ones !
My mom was super wiser there ! She used to talk with them ! Whenever they talk about money instead of ruppes they always say takka ! Just a few days ago i was watching a video about there refuge thing i asked mom about the company workers where are they from ! Cuz i suspected by there facial features ! Years ago !
I asked her where are they from she said! These guys say they are Bengalis !! But suddenly said they always say ruppes = *takka* (Bangladesh currency name )
That's how I got it that they are illgeal Bangladeshis folks ! When i did more research it was a racket of illegal Bangladeshis immigrants ! Who living here in minimum wage bcz they had no documents! They can't even run from there jobs ! These guys after got busted runaway from here somewhere else that mf agent also got kicked away! He was from Bihar !
The question is, how India is gonna navigate thru this crisis in the subcontinent?
@@OkarinHououinKyouma India have forking high taxes. Have one of the highest LPG and fuel prices.
As a Pakistani I'm surprised with the ranking on the leaderboard. I think its optimistic to say the least 😅
Typical American naivety
He has mentioned that there is quite a lot of bias towards to past (growth), and a bias towards larger economies (GDP). Both of which Pakistan is doing quite well. I guess if the bias was towards GDP per capita, and recent growth Pakistan would get something in the 3's.
@@Leon-pn6rb Hes not American
@@Leon-pn6rb EE is Australian, mate.
@@Leon-pn6rb No, His Accent doesn't sound American
Great timing
Respect for showing the exact map of Pakistan
Look closer. It's not part of India either. He made Kashmir independent.
@@zainahmed6134 thats why he said for pakistan alone 😂😂
Living in Pakistan I want to mention the foremost cause which is that Pakistanis have been fooled for most of their history by the ones who rule them not just politically but economically and socially as well. And it can't be fixed until people open their eyes. Pakistan is in a situation where it needs a similar socioeconomic revolution as of French did.
It won't happen in Pakistan's case because it's people are blinded by religion, which has entered all areas of life.
You are talking about army and isi
Right
But it tooo late
Yaa you're right still Pakistanis belives they're powerful than India
Deen par dhyyan do.....duniya par nahi
Are you wanting for someone to say - let them eat cakes?
Should have covered their PM's motto
"Beggars can't be choosers" 💀
shehbaj - me mangne nahin aaya hu par majhburi he....🤣🤣🤣🤣
Govt: Forget Chai and drink Sattu🤪✌️
@@myselfyuvi Drink cow pee is also Good option for Hindus 🙏
@@myselfyuvi "tea is expensive" - average Paxtani
way way way better than being Balaaatkaris! get it, balaaatkari?
I'd love you to do a detailed analysis of South Africa, taking into account regional differences and the changes over time of those regions, the effects of rolling blackouts, political situation, investment, tourism, etc.
Kudos to EE for making such a good, exploratory analysis and having a perfect sum up of the economic situation in Pakistan; without showing any flashy news headlines. Also, extra cookie points for getting the Pakistani map roght!
My takeaway from this is that as bad as Pakistan is, it still ranks higher than Brazil on the EE leaderboard.
That's not saying much is it
*real* *truth*
The government of Pakistan is controlled by the army of Pakistan, the army chief chooses their prime minister, there have been four military coups so far, each of their army officers flees to Europe after retirement, example, general bawja army chief when retired When he became, he had a wealth of 12.7 billion. Pakistan army runs business in the country, everything from clothes to soap is made by their army. In their annual budget, 50% of the budget goes to the army.
that is unfair, brazil has so much natural resource.
@@yoppindia that's what I'm thinking!
Cisco
The fact that you put Pakistan over Brazil and Argentina is laughable. Both countries are much richer, more stable, are actual democracies and have actual value adding industries. The only thing Pakistan is better at is growth, and that's only because it's a dirt poor country and that's typical of low income countries.
Agreed.
Growth? Of what?
About Argentina i can't be sure, but Brazil certainly deserves to be above Pakistan. If Pakistan is a 4.2 then Brazil should be a 4.3.
@@mariothibau1070 population matters. Pak can get billions tommorow if its population started donating.
@@MP-ut6eb Inflation.
Great video as always... very similar situation going in Egypt. if you would want to consider it for a video and add it to your leaders board.
Once a great man said, "Beggars can't be choosers". And everyone felt that.😵
Once a great man said, "Tea is fantastic". Everyone felt it.
@@rafaykhanyousefzai2 F-16 shotdown was fantastic
@@rafaykhanyousefzai Yeah now the same tea is expensive, Go have sattu..
Btw 93000 porki surrender was 1000 times more shameful than Abhinandan surrender
@@rafaykhanyousefzai bill of 93000 tea cups ☕ are still pending 🗿
@@rafaykhanyousefzai lol, 93k surrender is fantastic, Bangladesh is fantastic. Try one more time, Balochistan will be even more fantastic 🗿
I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for.......
USSR is our last hope!!
Only if ur government did not fund terrorism and had not been a slave to china it would have been better.
Look on the bright side.
It could have been worse; you could have been living in Pakistan!
What could have been more worse is that there wouldn't be a country called pakistan
They know exactly what they are doing to Americans who have worked hard , lived frugally, and saved. This money printing is their plan to devalue everyone's savings and bring all but the very wealthy down to the same level.
You should make a video about the danish economy, would be very interesting. Its very interesting economy with a lot of "Cleanteach" companies like Vestas and other companies like Grundfos, aswell as major medicinal companies like Novo Nordisk, aswell as major shipping firms like Mearsk. Very interesting video about Pakistan, keep up the good work
As an Indian, a part of me felt bad when I heard about natural disasters there but other part quickly reminded me that this is the country whose official policy was to "bleed India through thousand cuts."
Yes thousand cuts you are right… but not to the innocent indian.. to those who are responsible for what ever bad happening in kashmir… and whole world knows that what Indian army is doing with innocent kashmiris.
@@m9nabil123 you smoking pork sh*t ?
@@m9nabil123 what is happening with kashmiris ??
@@m9nabil123 lol and what about terrorists sent by Pakistan in India? What about 26/11? What about Osama Bin Laden? Your legend Imran called him a Martyr!! You guys are nuts. Cannot be happier that Jinnah decided to take you guys out of India.
@@mihirojha4475 bro come out of the circle we’re you guys only listen what your media is saying..come out of this andhbakht concept…dnt listen to me also just search what international media is saying about 26/11.. it’s inside job by indian politics… you talking about usama bin laden im not in support of him but the question is why Americans were after him… for crime which he have not done ?? be logical do some research you will know
Pakistani government should open CZcams channel and ask their population to watch videos of it and earn through ad revenue 😂
Ya like making a video about defeating India(which will never happen) but Pakistanis will belive anything like they belive they're not Indian origin but Arabs 🤣🤣🤣🤣🐷🐷🐷
Modern prblms require modern solution😂😂😂😂
india can bankrupt youtube if we try this shi lol
They should rather ask them to react on it🤣🤣🤣
@@realShikha885 "most react channels per capita".
Pakistan was socially and economically much stronger than India before the partition of India. Higher industrialization, much more fertile soil, water availability in every way it was better than it's counterpart India. What went wrong with them was their radicalization of population and trying to complete with India militarily and not focusing on developing their own country.
wish they didnt seperate tbh, a united india would've been a game changer
@@anemoxxa lol more maleech ? no
@@anemoxxa no way... india would be responsible for terrorist attacks world wide if pakistan was with india.. religious riots would have been a daily affairs, suicide bombings every second day in india...uncontrolled population growth eating up resources and not adding value to economy.... glad pakistan separated from india..
Make sense
@@rnayabed islamists are still in india
You guys ignored the fact that Pak collapsed after Indian demonetization. It means only one thing that their economy was running because of Indian currency they printed illegally.
Thanks for doing this video. Don’t see Pakistan covered by too many channels.
Every time I watch one of your clips I learn something
I am a Pakistani, and I am happy to see your community & your impartiality, now here's my take on all of this, as an average Pakistani... when the subcontinent was freed by the Britishers, India sensing the danger of a political imbalance, created a law that bounded the chief of army staff to not act on their own, rather will have to ask secretary (who is under the PM themselves) for any action possible, and I'll say that's a fantastic move because army can't legally move on their own... whereas in Pakistan it is permissible for the army to announce Martial Law anytime possible while giving a reason that is "VALID" according to them and nobody can deny them, so technically if your intentions aren't good, you can threaten the current PM and the government as much as you want and if you don't like the government you can just simply overthrow it "LEGALLY" and since the independence of Pakistan the Army and the Establishment only supports those people who obey them, meaning, they're corrupt. Sometimes they work behind the shadows and the other time they straight up take over the country, but in this current specific state (Imran Khan) has more public support than any other leader in Pakistan ever had. (Of course Bhutto had some influence, but he didn't have the access of the modern communication tech) ever since Pakistan has been freed the army and establishment has always been corrupt and to secure themselves even more they have powerful people in the whole system and structure who are willing to vouch them and basically that leads us to here... (Now some of you might say that I'm not "PATRIOTIC" enough, well I hate the corrupt people in it because they own most of the Pakistan's real estate assets and make black money out of it while poor gets poorer!)
Pakistan doesn't have a clear identity. Is it a democracy, an autocracy, a partnership between civilian and military, a theocracy? Or a salad of all combined?
"ever since Pakistan has been freed the army and establishment has always been corrupt" Yep! This is well known.
This claim with respect to imran Khan's popularity is wrong. Bhutto was much more popular than Khan. And so was Sharif during his rise.
Again the problem with all 3 politicians is that they were setup by previous army generals. All 3 enjoyed their army patron's support until they didn't.
Pakistanis discussing politics! Wow!! Please tell us more! 😂
@@kazj1728 I dunno man... we're fked up, that's for sure tho.
I travel internationally a lot for work and one thing I notice in basically every developing country (incl. Pakistan) is that no one ever pays income or sales tax. Vendors at the street level demand cash payment and pocket 100% of the profit rather than declaring the sale. I can't say how much of an impact this has but I do know that in my (advanced) country where I am forced to declare all my income and pay 30+% of it as tax, we do tend to get a lot more by way of standard of living...
yes its because taxes in Pakistan are mostly used up by elites for their own luxuries, this has completely destroyed trust between those in power and the common folk.
TAX collection is not as low as govt cries about it, its just that we lack exports and value additions that generates little to low revenue streams, otherwise establishments such as FBR does have corrupt bureacrats and the mingle with direct taxation leading to unsecure and un clear tax collection. On the other hand indirect taxation is huge, almost 41% + which is huge i.e FEDs, Excise duties, GSTs, customs etc.
Although big bussiness does avoid taxes, the direct ones because of their unethical war against the bureacrats and the policy which affects their bussiness, it should be a two way link. Otherwise many corporation uses FTR based taxation resulting in direct salary tax. i hope they would tax properties to some extent but sadly it's not happening
Yeah that's partly why the country is so resilient; little or no sales/income tax plus very little financing options. So things are purchased in cash and the money is kept in full.
That’s why gov earns mostly in developing countries from excise duties and gst/hst. India charge hefty duties on oil as oil is biggest import of India. Buying more (extra) oil directly make weak rupee. Weak rupee means cost of imported products rises. Means, oil will be more expensive than last purchase in Rupee. Reason why Indian economy works fine even in this inflation, oil always was charged big duties by central-local government, which were lowered in high global oil prices and now increased back when global oil price lowered, keeping, oil price less changed (stable increase) unlike western world where oil price went from 0.8 dollar to 2.5 dollar per litre in Canada in few months. That oil price increase f.up Canada in inflation, while India is still chilling. Inflation has increased but not that bad compare to rest of the world. Indian rupee to dollar will keep going down, Petrol will keep getting expensive in India,as they are related but it’s very smooth.
Which country are u from ??
You should definitely do Bangladesh; despite being in the same region, both being once in the same country twice, and both having faced a lot of the same challenges, Bangladesh's economy seems to be much more prosperous, stable, and rapidly growing the point its the richest South Asian country on GDP per capita level (nominal) despite being one of the poorest in the world not that long ago. It would definitely give better insight into how a country might industrialize and take advantage of the cards given to it. Given that, historically, it was one of the largest economies 500 years ago and it was the source of majority of exports within Pakistan when it was apart of Pakistan pre 1971 it might be very compelling to get further analysis especially as lots of people see it as the next Vietnam.
There was no Bangladesh 500 yrs ago
In the context of Bengal Sultanate and province of Bengal back then. In the same way current Communist China didn't then despite the presence of the Ming Dynasty.
Bangladesh's biggest problem is it's unreliable data on GDP and other metrics. BBS data is questionable.
Otherwise, it's a far bigger success than failed states like Pakistan and the two shouldn't be compared.
Shri Lanka has a $3,293 GDP per capita, Maldives even better, there are lot of south asian countries who have bigger nominal gdp per capita than Bangladesh
@John Tresca on the contrary it's economy is in a crisis
Nicely explained
I went to Pakistan and stayed there for 2 years.. Life is hard and people have very limited education.
The read one book though 👉👈 you know. They say all secrets are there in that one only.
Islamic jihad and education are like oil and water
@@rahulvats95
Is that so? Maybe you got it wrong alll along! Ever given a thought to that?
@@rahulvats95 y’all Indians smh you ppl are full of hate and extremism
@@harlowida Countries which negatively discriminate the Non-believers by written LAW in their majority countries, scum on earth, absolute pig of a people they are.
How can we love someone who doesn't acknowledge us being equal being Scripturly as well as legally.
The *funniest* 👌 part about *Pakistan* s' economy is they import products from neighbouring country India via UAE almost increasing the price of every goods by another 10-15% .
soon india is going to stop the water from jhelum too. lol
@@friendlyatheist9589 don’t worry we will export the water through saudi and uae
@@abhinavayush967 Where does Saudi and UAE get their water from in a desert? You think there's just a huge water reserve lying around and they're desperately trying to find a customer? 🤣
@@xijinpig8982 seems like internet doesn't know humor .
@@abhinavayush967 I got what you mean, but some people in this comment section don't get you 😅
A lot of thanks for this video.... Plz share more video about Pakistan Economy... Thank u so much😊
I like this channel, but putting Pakistan above Brazil makes no sense. Brazil does not have any serious problems with its currency, has a relevant industry, has a more complex economy, produces a lot of oil, the electrical system is not dependent on exports, and the economy is not dependent on remittances from workers abroad.
You forgot to mention that the Pakistani military basically holds the rest of the country hostage. They take a huge amount of the budget and the IMF is more or less required to subsidize them if they want any economic aid to go to the actual Pakistani economy at all.
Is it that bad? You got me curious. Can you explain more about the role and position of the Pakistani military in the society?
@@danielgareth4205basically all major industries are run by military. They can coup and takeover government whenever they want, without bloodshed. Basically, they just walk-in disband ruling government and takeover. To date, no Pakistani prime minister has been able to complete their full term.
@@danielgareth4205it isn't that bad, Military Just has a 6 billion dollar budget in 2023, out of 50 billion dollar budget...but Military has its own a lot of commercial industries to which they don't pay taxes
They lost the printing press of Indian currency .that's why after 2016 they are slowly dying .
@@msdadsfsx dont you know ? Pakistan had the printing press and technology to print old Indian currency notes .
@@quagmire4412 that didn't matter.Pur real issues rn can be summed up in one name.Imran khan.He screwed up our deals with the chineese and now we ar left with the debt from those deals without alot of the benefits The decline started right when khan came in
@@msdadsfsx demonitization hit them hard bro
@@msdadsfsx Watch Abhijit Chavda video
they dont even have proper universities their future is dark anyways
Pakistan was deeply impacted by India’s demonetization. Pakistan could no longer print Indian rupees and send them to India
What really
What?
Lol cope
Shh don't tell dem
@@pipipupu5104yes ! Just see the chart of Pakistan economy 😂 ! The groups from Pakistan used to print Indian currency to keep inflation in india and fund terrorist activities stopped since modi did demonitization just look at the chart lol there economy and indian demonitization 😂 it's so funny!
Our older goverment was so dumb before modi came older goverment used to print money outside of India (in EU basically ) where from Pakistan also print there money which caused this Nexus of Eu and Pakistanis to destroy from inside !
Our older goverment was so dumb really! After India's door closed those same paki Nexus started making there own currency to survive but it caused more inflation! Pakistan have highest inflation in Asia as of now which is over 38 %
Your vedio is so informatic but speed of delivering info is so fast and I am unable to understand some points
I was there in 2009, it was already rough, I can't even imagine now
Because of funding terrorism
@Don't Read My Profile Photo ok
@Don't Read My Profile Photo ok
@Don't Read My Profile Photo thanks
@Don't Read My Profile Photo ok
Its unbelievable how this country once demanded independence from India and claimed to become a nation with a formidable economy and military. Today Pakistan is a nuclear power with no funds to feed its people or even its army.
Feed its people or army are you forgetting yesterday was the anniversary for tea is fantastic
Pakistan is like this precisely because they chose a path of radicalism and militarism. Their own PM said that they'll starve themselves in order acquire nuclear weapons. In reality Pakistan never possessed anything that could be called formidable in any way. Their national identity is built off of communalism and hatred and a desire to somehow out do a neighbour several times larger and in the process they have sealed their fate as a failed state and have been outdone by a former province of theirs which they ruled like a colony for more than two decades.
@@hke.4475 tea is expensive 🤣🤣cope beggar
@@hke.4475 and what's the price of tea now in pakistan....
@@hke.4475 bhool gaya kya pakistani minister ne kya kaha tha aap chai ki piyali kam piye nahi toh aapki maa behen ho jaegi🤣
13:40 Is that a part of Pakistan? Does anyone know what is this place called?
As always very clear, easy to understand, and entertaining. Thank you.
Also a hail-Mary suggestion: Colombia and how 60 years of insurgency, the drug war, and instability yet a pretty decent economy on the possible rise with new peace deals. You’d make my day.
US has been donating billions of $ to PK since 1950s to present, even tho they hate US, that's the only reason their economy was barely holding up, PK was getting billions in extra for using their airspace by US, since US left AFG that extra fund disappeared and that's why their economy is taking bigger hit.
No foreign aid to Pakistan, a sworn muji enemy of the USA that sheltered Bin Ladin. Send it to Ukraine.
In the words of their once visionary leader, while dangling on the pertinent issues of statecraft: “We will eat grass, even go hungry, but we will have our own [atom bomb]”. Just a self-fulfilling prophecy at this point...
Ironic an indian commenting this street shitters yall rank lower on malnutrition and hunger index
@@hke.4475: Out of atta? Here, have some copium...
😂😂😂
Grammarly is what I use. It s very helpful. And I learned a lot from it.
in india state owns the military
in pakistan military owns the state
if a country gives more importance to military than economy it will collapse, just like Soviet union
Would love if you did videos on the "new" economic tigers like Romania, Poland, Hungary etc. They are starting to punch way above their weights. Romania is consistently one of the highest growth economies in Europe.
thanks a lot for the support mate ! :D cheers from Hungary!
Lol free andrew tate Romania guy
I'm pretty sure they're going nowhere unless they figure out what to do with demography and net migration.
They just don’t have enough demo to be more than slightly stronger regional players. Sorry, but as the technological progress becomes more & more democratised, the future looks to be Asian
@@GIGADEV690 What?
Pakistan has one of the most fertile land in the world and one of the youngest large workforce.
Sits on the junction of Middle East, India and China.
Had it not embraced radical lsIam in 1970s, it could have been a prosperous country.
I agree Pakistan is fertile. But I think the region that is Uttar Pardesh today has to be the most fertile land in the world.
workforce but not educated and skilled
@@r.ssumedh7626 the commenter used "one of the most fertile" for a reason.
@@r.ssumedh7626 because uttar pradesh sits on the Himalayan flood planes
@@r.ssumedh7626 Nope, Jawa Island from Indonesia is the most fertile land on earth
proud to be Bangladeshi 🇧🇩🇧🇩🇧🇩
@4wLife Thankfully, not anymore. 😉
As a Brazilian, I cry everytime I see these billboard (at 4:50) in the videos.
Pakistan in a situation whatever the do to fix the problem will make a even bigger problem
There exists no such situation.
They should increase their donkey exports
Thanks for making a video on Pakistan's economy. Some days back, I requested you for this video.
Thank you
I really dislike how each year Pakistan's map on videos and maps is being shown smaller and smaller systematically even though Pakistan still holds half on the northern area and it has been for decades, hence it should always be shown on its map boundary.
It's about time😊
Pok is Indian territory
@@Element67 keep dreaming bro nagaland khalistan will themselves separate
@@nvherman257 keep coping harder. Khalistani separatists are falling like a pack of cards just like pakistan economy
Appreciate you using the correct map for India and Pakistan.
aksai chin not included in our JK
@@adityarane5735 once we take it back it will
it will never be true pajeet
This is not the correct internationally accepted and de-facto borders.
Come out of your imaginary world.
The Line of Control is the de-facto border of both nations no matter what each claims.
@@adityarane5735pok is more important than Aksai chin since it opens up route to central
Hi, I am from Nairobi Kenya. I appreciate and follow your insights about the economic performance of different countries from around the world. I request that you prepare a video on the rising economy of Kenya, would be a real eye opener. You have a lot of fans over here.
I would really love to see a video of KENYA
I would love to see one too
Why a Arshad sharif killed in Nairobi Kenya
pakistan's economy and the crisis it is going through are very similar to the situation in my country Egypt but we are going through worse conditions . I hope to know your opinion about the situation in egypt ,the currency crisis and the failing economic situation we are going through
atleast egypt can leverage its geography for good. imagine making it tax free like dubai or singapore.
@@victordashmohapatra3546 We have all the ingredients that allow us to advance our country. We have an excellent location, tourist sites, and monuments of our civilization. We have mineral wealth, gas fields, and labor hands as well. We have millions of workers abroad and people with expertise. Unfortunately, we are ruled by military rulers who think only of their interests.They impoverish the people, humiliate them, and imprison the opponents only.
@@zezomohamed9750 don't fall for western propaganda, today Egypt would have been like Iraq,Iran,Kuwait without military rule, they stopped Arab Spring and Radicalization , America would have been sitting on ur oil field, Panama Canal was invaded, so would be Suez.
@@zezomohamed9750Same situation in Algeria.
Hi, I'm from Malaysia. It would be great to have a video on the economics of Malaysia. Lately there has been a lot of talk about our high debt situation, income inequality, low wages & being stuck in the middle income trap. It would be amazing to have an unbiased breakdown of the whole situation from your team . Thank you
And racism
Finally a video on my Homeland, but not on a topic that we are proud of ... But Lets hope for a better future.
@Detective Conan why are indians obsessed with pak army
@Detective Conan It reminds me of a probably apocryphal quote by Voltaire:
"Where some states have an army, the Prussian Army has a state."
Ur future is nil, and same as ur country, but still saying kashmir is ours 🤔
@@JatinPlaysYT Its mostly children of elite Pakistanis Abroad, who cry Kashmir, palestine everywhere, they have to do this so that their parents can fool average pakistani and make money of them.
Future has no meaning in Pakistan
For Indian
Learn what to do from China
Learn what not to do from Pakistan
perfect.
pakistan. inshallah
Thanks for the correct map of Pakistan. Being an Indian its important that one of our most important neighbour's map is shown correctly. They've earned their partition, at least they deserve their correct map👍🏻
wdym
He mean guy used propganda map made by Indian , they removed 2 stats from map including my house
Hope you sleep peacefully after commenting this
lol what
are you mentioning Kashmir part here
Thanks for the insight.
We've seen how expensive stuff has become. Noodles prices have gone up from Rs 45 to 65
Noodles are haram.
@@rahulvats95 nothing is haram when it is in Pakistan, everything is halal... Esp begging 🤣
@@vivekanandan5093 street shitters
Out of hundreds of things that are expensive abdul chose noodles.
@@rahulvats95 gaslight king
Correct Map on India, good job. You get my like.
Ladakh is in china thi
Incorrect map 🙂🤫
@@maktakjaklak6790 atleast POK is shown in India
As a Pakistani myself we are facing severe conditions with the passing days. Inflation is rising, and things does not seems to get better anytime soon. Only Viable Solution right now is a stable government with better economic plan which focuses more on people rather than military expenditures
Thank you for showing the right map 🤓🎈👏
Pakistanis once said we will eat grass but build a bomb well live upto your word now.
Ironic an indian commenting this which ranks lower in pmi and hunger index than Pakistan
@@hke.4475 and you believe that stupid report 🤣
@@akashpatel8410 They believe in a stupid book called “Quran”, believing a stupid report is not a big deal for them.
15 dollars is too much for average pakistani 😂😂 like someone earning Rs 1200 in India, it's not less vro, Pakistan must be on 1.5 or 2 dollars a day max😂
exactly man ye banda kya economics pada hai pehle bola per capita income 1550 hai pakis ki (jo ki pure saal ki hoti hai) uske baad bol raha hai 15 dollars in one day and also he ranked pak higher than brazil and sri lanka !!! this guy is seriously on some drugs !
Nah.. The average labourer in Pakistan gets 800 per day while a govt job will give you 1600 per day.
Pakistan ain't that cheap.
@@Char444 He is an indian. What are you expecting from the likes of him?
@@farismustafa5389 Katora leke ghum raha hai, but akad nahi gayi? I suppose, while Indians are pitying at the state of Pakistan for the sake of their citizens on humanitarian grounds, Pakistanis would rather never change with their hateful views. I guess it’s karma.
Can you afford a 3 crore car 1 crore inr huh huh thing is Pakistani people earn more money than Indian people it's just worth less in dollars India's average capita income 2000 dollar Pakistani average capita 1000 dollar in terms of pkr 1000 dollars are 270000 pkr while India's worth 210000 pkr so Pakistani money is just worth less
9:45 Why is the video backwards? Are a lot of them backwards and this is the first I've noticed?
Please make a video on Iran. The current true exchange rate ofUSD to IRR was 1 to 600,000 last week and is 540,000 today and still fluctuating up and down. There are a lot of tensions and turmoil in the country.
Dear economics explained, can I suggest/request a video about the euro currency, and the risks vs benefits of linking weaker economies (e.g. Greece) to stronger ones (e.g. Germany)? Thanks for all the great content :)
youtube.com/@mohammadtariq1739
As much as it is a huge tragedy for the population, there isn't much the world can do about it without sending in the military and overthrowing the Pakistan Government, killing many in the process. You can't really effectively send them food and other Aid, as we saw with the Turkish Aid, because rather than distribute it, the Pakistan government warehoused and "re-gifted" it back to Turkey during Turkey's earthquakes. Any aid sent to Pakistan will be stolen by the Pakistan government and insiders rather than sent to the people.
It's no use giving them an IMF bailout, because we've seen in the past Pakistan will renege on all promises they make. The outside world can really just look on with horror as long as Pakistan's government stays in power.
also problem of terrorism , and army being the one in power rather than elected person
tbh once people understand that pakistan's issues are to be blamed on power hungry leaders exploiting the populations emotional fragility for generations, then maybe they'll get a better pakistan and one less enemy ;) maybe unification in a best case scenario
that re-gifting aid back to Turkey was really embarrassing
@@JitzyJT it was fake news
@@userre85 Except it wasn't.
I love how so many people (read: Indians) who came here to stroke their egos by laughing at Pakistan's economic situation are just butthurt that EE placed it decently on the leaderboard.
But that being said, Pakistan really does need a turnaround. Economically, politically, and socially.
Understand the basis of ur nation. It's built around the military and tbh, most pakis take pride in it cuz of their hate against India(we do have a valid reason, u are but bastards bore out of invasions...so in a way, even y'all have a valid reason)
Only difference between India and Pakistan is the religion. That's it.
Don't blame India
We are not here to stroke our egos
Whatever is happening today in Pakistan is only because of its idiot administration i.e army and goverment
Pakistan has no future
Even former Prime minister has said that we don't have enough money to even run on country
We need to borrow that money also from abroad.
Now as Saudi has stopped giving money to Pakistan, so Pakistan turned to China .
China is well known for its debt trap policy and how it will trap Pakistan also while Pakistan Army's general will fill thier pockets.
Please do a video about the economy of Bangladesh 🇧🇩
This video makes Pakistan's position look much better that what it is. Ground reality is totally different. You haven't covered the aspects of political instability and inflation faced by the country right now.
An important aspect I think you missed is Pakistans continual state support for terrorism and how this has strained it relationships with many nations.
Pales in comparison to actual terrorism support and continued terrorist by America.
@@abdulsufan3325 doesn't matter if u accept or not. Pakistan, the land of Terrorists. Breeding grounds for terrorism and still indirectly killing many
Bro actually gave free points in Stability, growth and GDP Total Size, even Switzerland has more than 800B GDP
Love the video, it's very informative. But why are you singing at the end of each sentence.
your video is awesome!
A video on ai impact on the economy is needed.will it lead to mass unemployment and a rise in wealth inequality or a better future for all??
The washing machine vs Internet video goes into it a bit.
My take is that it will lead to a much better future for the part of humanity that will survive the conflict and instability caused by unemployment raise and wealth inequality as automation will proceed to narrow unskilled and low skill job market. Kinda like during the industrialization era, but on a global and most likely more brutal scale.
Edit: If the cost of labor doesn't drop so much that automating further just becomes economically unsustainable, of course.
For sure it will automate and less jobs will come
It benefits countries with small population growth.. or even negative population growth like Japan. But it would cause serious problem for countries with big populationm
You won my like in the first second itself by showing the correct map of Pakistan.
My friend has just returned from a business trip to Pakistan. He was raised there, so knows a lot about the corruption in the country. He was shocked, however, by how much more widespread it is and by the cost. Wherever he went, it was necessary to "put sugar on the plate" to achieve even the simplest transaction. He calculated that bribery added a minimum of 50% to most of his business, and in a couple of cases, it was over 90%. As a result of this, he has begun the process of closing down his business connections in Pakistan. He will not be alone in this. The country needs to deal with the issue of corruption, but this will be unlikely to happen because those with the power to stop it are also the ones who benefit the most.
When Karma Is Far Far Stronger Than Kalma...