"DYNAMICS OF PAKISTAN'S ECONOMY AS A MUSLIM COUNTRY IN THE CONTEXT OF THE GLOBAL ECONOMY: A LITERATURE REVIEW"
Keywords:
CPEC, Economic Development, Global Economy, Islamic Economics, Pakistan EconomyAbstract
ABSTRACT
This study aims to analyze the economic condition of Pakistan, identify its challenges and opportunities, and examine Pakistan’s role in the global economy and Islamic economy. The study employs a qualitative approach using a literature review method by analyzing relevant academic journals, books, and research reports. The findings indicate that Pakistan possesses significant economic potential supported by its strategic geographical location, demographic dividend, and opportunities for regional economic integration through international cooperation initiatives, including the China–Pakistan Economic Corridor (CPEC). Pakistan’s economy is primarily supported by the agricultural, industrial, and service sectors, which play important roles in national economic growth. However, the country continues to face several structural challenges, including high inflation, external debt, political instability, corruption, and weak governance. From an Islamic economic perspective, strengthening zakat, waqf, and Islamic financial institutions may contribute to a more inclusive and sustainable economic development model. Therefore, comprehensive economic reforms and stronger regional cooperation are essential to enhance Pakistan’s competitiveness in the global economy.
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