GDP growth revised down to 3.65pc as country falls short of target

• Industrial, services sector slowdown drags down economic growth in FY26 • Per capita income ‘lowest in region’; economy reaches $450. 4bn ISLAMABAD: The government on Monday revised the gross domestic product (GDP) growth slightly downward to 3. 65 per cent for the outgoing fiscal year (FY26), attributing the adjustment to a mild slowdown in the industrial and services sectors. The country’s GDP registered modest growth alongside an increase in per capita income in dollar terms, reflecting a sluggish pace of recovery in the country’s overall output compared with the previous year, the government said. In May 2026, the government had projected the economy to grow by 3. 70pc in FY26, revising its earlier estimate of 4pc. The downward adjustment now indicates that the country fell short of its GDP target. The revised growth rates in agriculture, industry and services in FY26 are 3. 50pc, 3.

34pc and 3. 81pc, respectively, compared with earlier growth rates of 2. 89pc, 3. 51pc and 4. 09pc. The revision came during the 118th meeting of the National Accounts Committee (NAC), which was held on Monday at the Pakistan Bureau of Statistics. The NAC estimate places Pakistan broadly in line with the outlook of multilateral lenders, though with some variation. The International Monetary Fund has projected GDP growth at 3. 6pc for FY26, the World Bank at 3. 7pc and the Asian Development Bank at 3. 7pc, while the State Bank of Pakistan expects growth to remain close to 3. 7pc. The committee approved the incorporation of revised imports data in the national accounts estimates from FY21 to FY25, quarterly GDP growth rates for Q1 (revised), Q2 (revised), Q3 (revised), and Q4 during FY26 and updated annual growth rates for FY25 and FY26. The size of the economy rose to $450. 4 billion in FY26 from…