The study was conducted to analyze the growth rates and forecasting of three important variables of the wheat economy in Pakistan i.e. production, procurement and imports. Time series data were used from 1970 to 2003. Import demand function of wheat was also calculated to establish a relationship between government procurement and wheat imports. The production growth of wheat was estimated for the period of 1970-1980, 1981-1990, and 1991-2003. Production grew at the rate of 5.37%, 3.11% and 2.09% for three decades, respectively. The growth rates of procurement were 14.6, 2.89 and 5.45% and for imports it was -5.03, 24.9 and 3.38%, for three decades, respectively. With respect to forecast of these three variables in the year 2015, the quantities of production will approach to 25 million tones with upper and lower critical limits of 23 and 27 million tones, respectively, the quantity of government procurement will reach to 7.2 million tones with upper and lower critical limits of 4.6 and 9.8 million tones, respectively and imports will reach to the level of 7.2 million tones with upper and lower critical limits of 4.6 and 9.8 million tones, respectively. Our import demand analysis supported the null hypothesis that irrespective of wheat production in the country, the amount of wheat procured by the Government significantly decreased the amount of wheat import.