Pakistan Exports cross $2bn mark for four consecutive months

Pakistan’s exports in January 2021 posted an increase of 8 percent to USD 2,135 million as compared to USD 1,978 million in January 2020.

This is the first time in the last eight years that exports have crossed the $ 2 billion mark for four consecutive months.

A consultative meeting was held by the Advisor to Prime Minister on Commerce and Investment, Mr. Abdul Razak Dawood to review the provisional (pre-PBS) trade data till the month of January 2021.

He was briefed that in January 2021, an increasing trend has been witnessed in the export of value-added and non-traditional products. The exports of Jerseys & Cardigans increased by 72pc, Pharmaceutical by 55pc, T-shirts by 43pc, Plastics by 24pc, Women's Garments by 21pc, Home Textiles by 19pc, Textile Made-up by 11pc, Men’s Garments by 8pc and Rice by 7pc as compared to January 2020.

He was also informed that decreasing trend was noted in export of mostly non-value-added products. The exports of Maize decreased by 82pc, Raw Leather by 23pc, Cotton yarn by 11pc, Cotton Fabric by 14pc and Meat by 5pc as compared to January 2020.

The meeting was informed that geographically, in January 2021 exports increased to Canada (43pc), Australia (42pc), the United States (36pc), South Africa (27pc), China (21pc), the United Kingdom (21pc), Belgium (18pc), and Saudi Arabia (14pc).

While there was decrease in exports to Jordan (-68pc), Senegal (-59pc), Italy (-24pc), Turkey (-21pc), Bangladesh and the United Arab Emirates (-19pc each).

The Advisor was informed that the provisional (pre-PBS) export data for the period July-January 2020-21 showed that the exports increased by 5.5pc, to USD 14,245 million as compared to USD 13,507 million during the same period last year.

During July-January 2020-21, the exports of value-added and non-traditional products increased especially for Tents & Canvas (49pc), Jerseys & Cardigans (37pc), Pharmaceuticals (28pc), Cutlery (27pc), Socks & Stockings (26pc), Women's Garments (22pc), Home Textiles (17pc) and Textile Made-ups (9pc) as compared to the same period last year.

He was informed that as compared to the same period in the previous year, during July-January 2020-21 the export decrease was observed in mostly non-value added products, such as Cotton (-96pc), Maize (-49pc), Raw Leather (-30pc), Cotton yarn (-24pc) and Cotton Fabric (-9pc).

Dawood was informed that on the basis of export growth Pakistan’s Top markets for 7-months’ period are Indonesia (43pc), Australia (22pc), the United States (21pc), the United Kingdom (21pc), Poland (14pc), Germany (12pc), the Netherlands (11pc) and China (9pc). He was further informed that compared to last year, the markets showing declining exports during July-January 2020-21 were Thailand (-43pc), Malaysia (-24pc), Sri Lanka (-23pc), the United Arab Emirates (-21pc), Bangladesh (-18pc), Italy (-7pc) and Spain (-5pc).