‘First Time In 8 Years’: Pakistan’s exports cross $2 billion mark for 4th consecutive month

Exports in the new fiscal year started on a good note but suffered a rapid decline of 19% in August before bouncing back in September, October, and November.

  • The minister says Pakistan’s exports in January 2021 rose 8% to $2.14bn, compared to $1.98bn in the corresponding period in 2020
  • Pakistan’s exports for July 2020-Jan 2021 period grew 5.5% to $14.25bn as opposed to $13.51bn during July 2019-Jan 2020 period.

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Pakistan’s exports have crossed the $2-billion mark in four consecutive months “for the first time in 8 years”.

This news was revealed by the Adviser to the Prime Minister on Commerce, Textile, Industry, & Investment, Abdul Razak Dawood.

A “happy” Abdul Razak Dawood took to Twitter to share the news, expressing that Pakistan’s exports have maintained the growth trajectory.

“Our export for January 2021 is up by 8% to $ 2.14 billion, compared to $ 1.98 billion in January 2020 according to provisional figures,” he said.

“The exports for July-January 2020-21 have increased by 5.5% to USD 14.245 billion as compared to USD 13.507 billion during July-January 2019-20.”

“Our cumulative exports for seven months of FY 2020-21 are showing a rising trend.”

The Adviser to the Prime Minister lauded the country’s exporters for their determination “despite difficulties created by COVID-19 pandemic, regional export situation, and contraction in major markets.”

“Exporters, kindly go full speed ahead in exporting your products, and in case of any hurdle, inform the MOC (Ministry of Communications),” he advised them.

Exports in the new fiscal year started on a good note but suffered a rapid decline of 19% in August before bouncing back in September, October, and November.

Earlier, Prime Minister Imran Khan had tweeted on the growth in exports in November and December 2020, comparing it to Pakistan’s major South Asian counterparts’ unsatisfactory performance.

The incumbent government is actively playing its role to encourage the exports of textile and non-textile products by providing cash subsidies and slashing duty and taxes on raw material imports.

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