The economy of
Punjab, is one that is largely based on
agriculture and industry. Pakistan Punjab is the largest province of in terms of population, and also
has the largest and fastest growing economy in the country compared to other
provinces and administrative units. Pakistan
It is especially dom
inant in the Service & Agriculture sectors of the Economy. With its contribution
ranging from 52.1% to 64.5% in the Service Sector and 56.1% to 61.5% in the
Agriculture Sector. Pakistan
It is also a major manpower contributor because it has the largest pool of professionals and highly skilled (Technically trained) manpower in
It is also dominant in the Manufacturing sector, though the dominance is not as huge, with historical contributions ranging from a low of 44% to a high of 52.6%.
Punjab achieved a growth rate of 7.8%
and during the period 2002-03 to 2007-08, its economy grew at a rate of between
7% to 8% per year and during 2008-09 grew at 6% against the total GDP growth of
at 4%. Pakistan
Despite lack of a coastline, Punjab is the most industrialized province of Pakistan; its manufacturing industries produce textiles, sports goods, Heavy machinery, electrical appliances, surgical instruments, Cement, Vehicles, Auto Parts, I.T, metals, Sugar mill plants, Cement Plants, Agriculture Machinery, bicycles and rickshaws, floor coverings, and processed foods.
In 2003, the province manufactured 90% of the paper and paper boards, 71% of the fertilizers, 69% of the sugar and 40% of the cement of
Despite its a tropical wet and dry climate, extensive irrigation makes it a rich agricultural region. Its canal-irrigation system established by the British is the largest in the world. Wheat and cotton are the largest crops. Other crops include rice, sugarcane, millet, corn, oilseeds, pulses, vegetables, and fruits such as
Kinoo. Livestock and poultry production are also important. Despite
past animosities, the rural masses in Punjab's farms continue to use the Hindu
calendar for planting and harvesting.
District of Faisalabad is famous for Textile products.
District of Jhang has the largest Wheat & Sugar cane production share with the maximum number of floor and sugar producing industries.
The district of Sialkot excels in sports goods, surgical instruments and cutlery goods.
The district of Chiniot is famous for more specialized furniture industry.
Punjab is also a mineral rich province with extensive mineral deposits of Coal, Gas, Petrol, Rock salt (with the second largest salt mine in the world), Dolomite, gypsum, and silica-sand. The Punjab Mineral Development Corporation is running over a hundred's economically viable projects. Manufacturing includes machine products, cement, plastics, and various other goods.