According to Pakistan's "The National" on December 27, the Ministry of Commerce of Pakistan announced that Pakistan's ** sector has made significant achievements, with net exports increasing by 5.6 billion US dollars.
Commerce Minister Dr Gohar Ejaz said the positive data and upward trend show the resilience of Pakistan. "We will continue to work to create favorable conditions for our exporters and find new destinations for exports," the minister said. ”
Exports increased year-on-year
In the first 20 days of December 2023, Pakistan's exports increased significantly year-on-year to 4$7.9 billion, a growth rate of 331%。
Imports fell year-on-year
On the contrary, imports fell sharply by 40.5 billion US dollars, a decrease of 128%。This positive trend led to an improvement of 8$8.4 billion.
Export milestones for July-December 2023
From July 1, 2023 to December 20, 2023, Pakistan's exports soared to $14 billion, a significant increase of 7 year-on-year0.9 billion US dollars, an increase of 53%。
Imports fell during the same period
During the same period (July 1, 2023 to December 20, 2023), imports decreased to $24.3 billion from $29.2 billion in fiscal 2022, a significant decrease of $4.9 billion year-on-year. **Net exports increased by $5.6 billion year-on-year.
Industry performance
Agricultural and food exports: It is worth noting that in the first 20 days of December 2023, the value of agricultural and food exports increased by 109 year-on-year2% for a total of 5$74.6 billion. The surge can be attributed to strong exports of corn, corn, ethanol, alcohol, tobacco and rice.
Textile, Manufacturing and Engineering Sector: In the first 20 days of December 2023, exports from the textile and manufacturing and engineering sectors increased by 15% year-on-year, which was commendable.
Major export destinations
Pakistan's exports to major destinations such as Indonesia, the United Arab Emirates, Madagascar, and China have seen significant growth. Minister Dr. Gohar Ejaz expressed confidence in the continuation of this upward trend and stressed the Ministry's commitment to creating an environment conducive to economic growth. These achievements underscore Pakistan's resilience and competitiveness in the global market.