ISLAMABAD: The country's exports have posted less than 2 percent growth during the first five months (July-November) of fiscal year 2020-21. In a tweet, Prime Minister's Advisor on Commerce and Investment, Abdul Razak Dawood said that for the first five months of the current fiscal year, exports have increased to $ 9.732 billion as compared to $ 9.545 billion over the same period of last year.
He further stated that exports in November 2020 posted a growth of 7.2 percent as compared to the corresponding month of 2019. "We have just received provisional figures for export of goods. I wish to congratulate our exporters that in these very difficult times with resurgence of Covid-19 cases in Pakistan and globally, our exports have increased by 7.2 percent in November over the same period last year," he said, in a tweet.
In November 2019, exports stood at $ 2.011 billion whereas exports in November 2020 were $ 2.156 billion.
"This has been done due to the hard work of our exporters and they deserve praise for this accomplishment," Dawood maintained.
The growth in exports in November 2019 was recorded at 9.35 percent as compared to the same month of 2018. This shows the performance of exports in November 2020, was dismal as compared to November 2019.
The Commerce Ministry has neither shared the figures of imports of first five months nor November 2020 which are critical to assess whether the trade deficit has improved or not compared to last year.
Copyright Business Recorder, 2020