Post-COVID-19: Pakistan’s exports to Saudi Arabia, Qatar swiftly surge
Despite the coronavirus, Saudi Arabia has emerged as one of the top export destinations for Pakistani goods.
The Ministry of Commerce informed the National Assembly that exports have seen an upsurge in a few countries despite the global economic slowdown since March.
The ministry shared details with the lower house in response to a series of questions asking for explanations on government-led measures towards promoting exports.
In the post-COVID-19 period, exports have seen a significant increase in two major destinations: Qatar and Saudi Arabia.
Despite the coronavirus, Saudi Arabia has emerged as one of the top export destinations for Pakistani goods in the Middle East as exports to the peninsula increased by 34% in June.
The volume of bilateral trade between Saudi Arabia and Pakistan increased to $2.181 billion in the FY20. Exports to Saudi Arabia have seen a consistent increase from $336.9 million in the FY17 to $342.08m in the FY19 and $446.18m In the FY20. However, the imports from Saudi Arabia have declined from $3.213bn in the FY18 to $1.735bn in the FY20.
Meanwhile, in the March-June period, exports to Qatar also increased to $50.13m compared to $39.33m in March-June FY19. Over the last few years, Pakistan’s trade with Qatar has increased. In the FY20, exports to the country jumped to 36pc.
Despite the pandemic, Pakistan’s exports to Qatar have seen an upward trend throughout Feb-June. Exports in June alone increased by 40pc.
Qatar has also allowed the import of Pakistani-origin rice after several years of the ban resulting from low-quality rice consignments being sent to the country in 2012. So far, Pakistan has exported 4,000 tonnes of basmati rice to Qatar.
The National Assembly was also informed about several measures to promote trade with Japan, Turkey, and China.
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