Pakistan’s exports exceed US$ 2 billion mark

Pakistan’s exports have exceeded US$ 2 billion mark with a growth of 29.3% as compared to March 2020 last year.

According to Abdul Razzak Dawood – Advisor to PM Imran Khan on Commerce and Investment, has apprised that this is the first time Pakistan’s growth has remained in excess of US$ 2 billion for a continuous six-month period after 2011.

Furthermore, Abdul Razzak Dawood highlighted that for the 9-month period of July-March 2021 of the current Financial Year (FY), Pakistan’s exports increased by 7% to US$ 18.669 billion as compared to US$ 17.451 billion in the corresponding period las year. During the same period the import grew by 12% to US$ 39.210 billion this FY as compared to US$ 34.817 billion in the last FY. This growth has come from increase in import of raw material as well as import of wheat, sugar and cotton.

Meanwhile, the imports in March 2021 grew to US$ 5,313 million which is mainly due to increased imports of petroleum, wheat, soy bean, machinery, raw material and chemicals, mobiles, fertilizers, tires and antibiotics and vaccines in March 2021, he added.

Pakistan’s exports for March 2021 stand at US$ 2.345 billion with an increase of 13.4% over Feb-2021. The figure is monthly highest in last ten years.