April 01, 2021 (MLN): Exports from Pakistan witnessed a growth of 13.4% MoM to stand at USD 2.345 billion in the month of March 2021.
Taking to his Twitter handle, Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razak Dawood said, ‘This is also the first time since 2011 that exports have crossed the $ 2 billion mark for six consecutive months. The export growth of 29.3% over March 2020 should not be considered as it is misleading since there was a lockdown last year.’
While, the imports in March 2021 grew to USD 5,313 million which is mainly due to increased imports of Petroleum, Wheat, Soy Bean, Machinery, Raw Material & Chemicals, Mobiles, Fertilizers, Tyres and Antibiotics & Vaccines in March 2021, he added.
Cumulatively, during 9MFY21, Pakistan’s exports increased by 7% to USD 18.669 billion as compared to USD 17.451 billion in the corresponding period last year. During the same period, the import grew by 12% to USD 39.210 billion this FY as compared to USD 34.817 billion in the last FY. This growth has come from an increase in the import of raw material as well as the import of wheat, sugar and cotton, he concluded.
