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Business

Despite COVID Pakistan exports post 5.8pc growth in July, as imports decline

  • “This is a great achievement considering that for the last four months, since March 2020, we witnessed a decline in exports,” said Advisor to Prime Minister on Trade, Abdul Razzak Dawood.
04 Aug 2020

After a series of monthly decline, Pakistan exports finally witnessed a 5.8 percent growth in the month of July as compared to the same month last year, as Pakistan posted exports worth $1,998 million worth of goods and services in the first month of the current financial year.

As per the data released by the Ministry of Commerce, Pakistan exports for the month of July stood at $1.99bn as compared to $1.88bn recorded in July 2019, showing a yearly increase of $109mn.

“This is a great achievement considering that for the last four months, since March 2020, we witnessed a decline in exports,” said Advisor to Prime Minister on Trade, Abdul Razzak Dawood, in a series of tweets on Tuesday.

“In spite of the fact that we still have COVID related smart lockdowns, our export-led ‘Make in Pakistan’ is moving forward,” added Dawood, who further congratulated Pakistan’s exporters “on this remarkable achievement and hope this trend will continue to accelerate.”

Meanwhile, Imports for the month of July 2020 stood at $3,540mn as compared to $3,696 recorded in the same period last year, showing a decline of 4.20pc or $156mn.

Overall, the country’s export/import balance stood at ($1,542mn), declining by 14.7pc or $266mn as compared to the same period last year.