Pakistan’s export product diversification strategy reaping results, says Dawood
- Dawood was of the view that the diversification of our exports away from the traditional sectors to new developmental sectors is an important part of government strategy.
Pakistan’s export product diversification strategy have shown impressive trend in July 2020, said Advisor to Prime Minister on Trade Abdul Razak Dawood.
Dawood in a series of tweets on Friday said “In line with our export product diversification strategy, the exports of the following products have shown encouraging trend in July 2020 over July 2019: 1. Exports of Fish and Fish Products have increased by 50% to US$26 million from US$17mn. 2. Export of Food Preparations increased by more than 300% to US$6.4mn from US$1.44mn.”
Dawood was of the view that the diversification of our exports away from the traditional sectors to new developmental sectors is an important part of government strategy.
“I wish to congratulate exporters in the above two sectors on their performance. We should not worry about size of any sector, as all large sectors were once small, but must look at the growth potential,” he added.
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.
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