Pakistan’s exports growing at the quickest pace compared to India, Bangladesh
Islamabad saw total shipments growth of 7% in September compared to New Delhi's 6% and Dhaka's 3.5%.
Bloomberg has reported that Pakistan’s exports have grown faster in the region during the COVID-19 pandemic. The federal government eased the lockdown restrictions earliest in the country, and hence the recovery of the economy began sooner than its regional neighbors.
According to Bloomberg News, with several major brands moving production to Pakistan amid the COVID19 pandemic, the country’s exports have grown faster than those of India and Bangladesh. Islamabad saw a total shipments growth of 7% in September, compared to New Delhi’s 6% and Dhaka’s 3.5%.
Pakistan was the first in the region to ease pandemic restrictions, allowing export units to reopen in April, a month after the first lockdown. The initiative has helped draw companies like Guess Inc., Hugo Boss AG, Target Corp., and Hanesbrands Inc. to the South Asian nation, said Bloomberg.
In July this year, the Advisor for Commerce, Textile, Industry, Production, and Investment of Pakistan, Abdul Razak Dawood, appreciated exporters for their exemplary performance during the Fiscal Year 2019-2020 compared to regional counterparts.
The Advisor tweeted, “I want to congratulate all our exporters on the good performance in 2019-20, despite the very challenging situation caused by COVID-19. Our exporters were only 6% less than 2019-20, while our regional countries, Bangladesh and India, were down by 17% and 14% respectively”.
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