ISLAMABAD: The country’s exports have posted a growth of 4.6 percent to $16.3 billion during the first eight months (July-February) of current fiscal year as compared $15.643 billion in the corresponding period of 2019-20.
According Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood, for the fifth consecutive month, Pakistan’s exports have crossed $2 billion mark. However, exports in February 2021 (28 days) stood at $2.044 billion as compared to $2.140 billion for February-2020 (29 days), posting a decline of 4.5 percent.
“We wish to congratulate exporters for their hard work in earning foreign exchange for the country and urge them to market their exports even more aggressively,” he said.
Commerce Ministry has neither shared the import figures for February 2021 nor for the previous eight months (July-January 2020-21), which is critical for determining the trade deficit.
Country’s imports were $4.185 billion in February 2020, while imports during the first eight months (July-Feb) 2019-20 were recorded at $31.515 billion as compared to $36.563 billion in the comparable period of 2018-19, showing a decline of 13.8 percent.
Insiders, however, maintain that imports posted substantial growth in February 2021 and during the first eight months of current fiscal year as compared to the period of 2019-20, which implies that trade deficit has widened.
Copyright Business Recorder, 2021