Leading Issues in the Economy of Pakistan: Agenda for Reforms Figure 3.1: Brent Crude Oil Price in 2021-22 ($ per barrel) $ per barrel Beginning 3.2 Pakistan Economy: GDP Growth One of the unexpected, pleasant surprises is the revelation of the Pakistan Economic Survey for 2021-22 that the economy has registered a high growth rate of 5.97 percent during the year, as shown in Table 3.1. This comes after 2020-21 when the economy showed a strong recovery with a growth rate of 5.7 percent. Seldom has the country seen two consecutive years of near 6 percent GDP growth. Table 3.1: GDP and Sectoral Growth Rates, 2020-21 and 2021-22 2020-21 (Revised) Agriculture 3.5 Major Crops 6.0 of which: Minor Crops 8.2 Industry 7.8 Large-Scale Manufacturing 11.5 of which: Electricity and Gas 6.2 Services 6.0 of which: Wholesale& Retail Trade 10.6 GDP(fc) 5.7 Source: PES (%) 2021-22 (Provisional) 4.4 6.6 5.5 7.2 10.5 7.9 6.2 10.0 6.0 40