Economy
Khyber Pakhtunkhwa has the third largest economy in Pakistan. Khyber Pakhtunkhwa's share of Pakistan's GDP has historically comprised 10.5%, although the province accounts for 11.9% of Pakistan's total population. The part of the economy that Khyber Pakhtunkhwa dominates is forestry, where its share has historically ranged from a low of 34.9% to a high of 81%, giving an average of 61.56%. Currently, Khyber Pakhtunkhwa accounts for 10% of Pakistan's GDP, 20% of Pakistan's mining output and since 1972, it has seen its economy grow in size by 3.6 times. It has the second poorest economy after Balochistan.
After suffering for decades due to the fallout of the Soviet invasion of Afghanistan, today they are again are being targeted for totally a different situation of terrorism.
Agriculture remains important and the main cash crops include wheat, maize, Tobacco (in Swabi), rice, sugar beets, as well as fruits are grown in the province.
Some manufacturing and high tech investments in Peshawar has helped improve job prospects for many locals, while trade in the province involves nearly every product. The bazaars in the province are renowned throughout Pakistan. Unemployment has been reduced due to establishment of industrial zones.
Numerous workshops throughout the province support the manufacture of small arms and weapons of various types. The province accounts for at least 78% of the marble production in Pakistan.
Read more about this topic: Khyber Pakhtunkhwa
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
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