Key Market Indicators
Pakistan's energy consumption is projected to climb to approximately 4.1 exajoules by 2028, up from around 3.7 exajoules in 2023. This marks an average annual growth rate of 1.5%. Historical data indicates that since 1970, the country's energy demand has increased by an average of 1.3% per year. In 2023, Pakistan ranked 27th globally in energy consumption, with Egypt slightly ahead at the same 3.7 exajoules mark. The top spots in the ranking were held by the United States, India, and Russia, respectively. On the supply side, Pakistan's energy production is expected to reach 131 million tonnes of oil equivalent by 2028, up from about 120 million tonnes in 2023. This represents a compound annual growth rate (CAGR) of 1.5%. Since 1976, the country's energy supply has grown at an average rate of 2.2% per year. In the global ranking of energy supply for 2023, Pakistan stood at 5th place, with the United Kingdom slightly ahead at the same 120 million tonnes of oil equivalent. France, Saudi Arabia, and the United Kingdom occupied the second, third, and fourth positions, respectively.
