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The economy of Pakistan is the 26th largest in the world in terms of purchasing power parity (PPP), and 40st largest in terms of nominal gross domestic product. Pakistan has a population of over 190 million (the world's 6th-largest), giving it a nominal GDP per capita of $1,427, which ranks 133rd in the world. However, Pakistan's undocumented economy is estimated to be 36% of its overall economy, which is not taken into consideration when calculating per capita income.[19] Pakistan is a developing country[20][21][22] and is one of the Next Eleven, the eleven countries that, along with the BRICS, have a potential to become one of the world's large economies in the 21st century.[23] However, after decades of war and social instability, as of 2013, serious deficiencies in basic services such as railway transportation and electric power generation had developed.[24] The economy is semi-industrialized, with centres of growth along the Indus River.[25][26][27] Primary export commodities include textiles, leather goods, sports goods, chemicals and carpets/rugs.[28] Growth poles of Pakistan's economy are situated along the Indus River;[26][29] the diversified economies of Karachi and major urban centers in the Punjab, coexisting with lesser developed areas in other parts of the country.[26] The economy has suffered in the past from internal political disputes, a fast-growing population, mixed levels of foreign investment.[24] Foreign exchange reserves are bolstered by steady worker remittances, but a growing current account deficit – driven by a widening trade gap as import growth outstrips export expansion – could draw down reserves and dampen GDP growth in the medium term.[30] Pakistan is currently undergoing a process of economic liberalization, including privatization of all government corporations, aimed to attract foreign investment and decrease budget deficit.[31] In 2014, foreign currency reserves crossed $18.4 billion[32] which has led to stable outlook on the long-term rating by Standard & Poor's.[33][34]