‘Govt failed to sustain export-led growth achieved in 2023-24’

ISLAMABAD: Former caretaker federal minister and Chairman of Economic Policy & Business Development, Gohar Ejaz, has warned that Pakistan has lost momentum in exports, alleging that the government has failed to sustain the export-led growth achieved in 2023-24 and has missed its own target of increasing exports by 10 percent annually.

In a statement on Thursday, Ejaz said Pakistan’s exports stood at USD 30.9 billion in FY2023-24 after achieving the government’s annual 10 percent growth target. However, he claimed that exports had fallen to around USD 30 billion by June 30, 2026, marking a decline of USD 800 million compared to two years ago.

He said the country had squandered an opportunity to add nearly USD 8 billion to exports over the past two years due to the failure to maintain annual double-digit export growth.

“Pakistan’s exports have become stagnant while the trade deficit continues to widen,” Ejaz said, adding that if exports had continued growing by 10 percent annually, they would have reached around USD 38 billion by now.

The former minister further claimed that exports declined by 7 percent in 2026, while the country’s trade deficit had climbed to a historic high, reflecting weakening external sector performance.

Calling for immediate policy intervention, Ejaz urged the government to “open its eyes before it is too late,” warning that the export growth momentum built in 2023 had come to a halt and that the country could not afford further delays in adopting an export-led growth strategy.

Copyright Business Recorder, 2026