As of 2008, the city’s gross domestic product (GDP) by purchasing power parity (PPP) was estimated at $40 billion with a projected average growth rate of 5.6 percent. This is at par with Pakistan’s economic hub, Karachi, with Lahore (having half the population) fostering an economy that is 51% of the size of Karachi’s ($78 billion in 2008). The contribution of Lahore to the national economy is estimated to be 11.5% and 19% to the provincial economy of Punjab. As a whole Punjab has $115 billion economy making it first and to date only Pakistani Subdivision of economy more than $100 billion at the rank 144. Lahore’s GDP is projected to be $102 billion by the year 2025, with a slightly higher growth rate of 5.6% per annum, as compared to Karachi’s 5.5%.