This study investigates the impact between inflation, exchange rate, export, import, FDI and economic growth in Pakistan. This study examines the economic growth of Pakistan from 2001 to 2023, with inflation, exchange rate, export, import, FDI serving as independent variables and economic growth as the dependent variable. First, we estimate group statistics of the variables and conduct Augmented Dickey–Fuller (ADF) test to assess the unit root test of variables. The Least Square method (including NLS and ARMA models) and Granger Causality tests to analyze the relationship between variables. The Granger causality analysis reveals unidirectional causality from inflation rate and FDI to GDP. Meanwhile, a bidirectional causality exists between exchange rate and GDP, as well as between import and GDP. However, no significant causal relationships were found between the other variables. Furthermore, the Least Square (NLS and ARMA) method indicate that inflation rate has a significant negative impact on economic growth of Pakistan, while the exchange rate, export and FDI have a significant positive impact on economic growth of Pakistan. Policymakers can use these insights to formulate effective policies aimed at enhancing macroeconomic stability and promoting long-term prosperity in Pakistan.