Razzak Dawood expresses satisfaction over exports growth

January 3, 2022 (MLN): Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood expressed his satisfaction over export growth during the first half of the current fiscal year while chairing a consultative meeting to discuss the trade trends in December 2021.

He advised the officials of the Ministry of Commerce to monitor export growth so that the momentum is maintained and necessary interventions are made if and when necessary.

Export Target for the first half of FY 2021-22 achieved as July- December 2021 exports were stood at $15.125 billion and the target for the 1HFY22 was 15 billion.

During the meeting, the advisor was informed that according to the provisional pre-PBS data, Pakistan’s exports during December 2021 increased by 16.7% to $2.761 billion as compared to $2.366 billion in December 2020, showing an increase of almost $400 million. He was informed that the export target for the month was $2.8 billion.

He was informed that there were indications that the growth in imports has started to decline. During December 2021, Pakistan’s imports decreased by $1 billion to USD 6.9 billion as compared to $7.9 billion in November 2021. He was informed that the import projection for December 2021 was $6.2 billion. As compared to December 2021, the imports increased by 37.9% to $6.901 billion as compared to $5.005 billion in December 2020.

He was also informed that during the first half of the current Financial Year (FY), exports during July- December 2021 increased by 25% to $15.125 billion as compared to $12.110 billion during the corresponding period last year. He was informed that the export target for first half of the current FY, which was $15 billion, has been achieved.

He was briefed that according to the available data there was noticeable product and geographical diversification during December 2021. The exports of fish & fish products, plastics, cement, fruits & vegetables, petroleum products, natural steatite, etc increased. In terms of market diversification, there was increase in exports to Bangladesh, Thailand, Sri Lanka, Malaysia, Kazakhstan, South Korea, etc.

He was informed that for traditional sectors, there was increase in the exports of men’s garments, home textiles, rice, women’s garments, jerseys & cardigans and t-shirts.

In response to the query of the Advisor, he was informed that in terms of traditional markets, as compared to December 2020, Pakistan’s exports to the United States, China, the Netherlands, and Spain increased in December 2021, while exports to the United Kingdom, Germany, Afghanistan, Saudi Arabia, Russian Federation, Indonesia, and Czech Republic decreased.

the advisor was briefed that the exports of fruits & vegetables, surgical instruments, electrical & electronic equipment, tractors, pearls, and precious stones decreased in December 2020 as compared to the same month last year.

Press Release