Exports swell 33% to USD 2.9 billion in Nov 2021

[RangeMaster]

https://twitter.com/x/status/1465928734410780676

https://twitter.com/x/status/1465928736457564162

 

[Patriot forever]

Highest export for any month by a margin. Previous highest was $2.7b in June this year. It will be a landmark if we manage to break past $3b monthly barrier.

If we continue this momentum we will hit $30b this financial year

All the difficult decisions taken by the government starts to show results.

With the capacity enhancements especially in textile coming online and the record rice crop ( expecting record exports as we have a sizable surplus) I am excited what the later half of this FY figures will be.

 

[Maula Jatt]

Highest export for any month by a margin. Previous highest was $2.7b in June this year. It will be a landmark if we manage to break past $3b monthly barrier.

If we continue this momentum we will hit $30b this financial year

I thaught our target was 38 b?...

 

[TheDarkKnight]

Wow MashaAllah that is a good bump. Lets break the psychological barrier of 3bln.

 

[RangeMaster]

I thaught our target was 38 b?...

38 billion is impossible. 30 billion is very good of we hit it. Govt is eying 45 billion in 5 years. Let's see what happens...!

 

[Patriot forever]

I thaught our target was 38 b?...

That is exports in services + goods target.

I mentioned just goods. The $2.9 b figure is goods exports.

Our IT exports are showing significant momentum in services export sector as well.

 

[RangeMaster]

That is exports in services + goods target.

I mentioned just goods. The $2.9 b figure is goods exports.

Our IT exports are showing significant momentum in services export sector as well.

IT exports are 650 million in last 3 months.

 

[Ahmet Pasha]

Highest export for any month by a margin. Previous highest was $2.7b in June this year. It will be a landmark if we manage to break past $3b monthly barrier.

If we continue this momentum we will hit $30b this financial year

All the difficult decisions taken by the government starts to show results.

With the capacity enhancements especially in textile coming online and the record rice crop ( expecting record exports as we have a sizable surplus) I am excited what the later half of this FY figures will be.

Textile, and all the other stuff is too old now. We need to introduce new exports. Tech is one big hope. We need to diversify and get ourselves out of expensive and manipulative deals with international companies and governments.

 

[Maula Jatt]

38 billion is impossible. 30 billion is very good of we hit it. Govt is eying 45 billion in 5 years. Let's see what happens...!

That's nothing, yeah by Pak standards it might be something but at global level not good enough

Look at Vietnam etc - in just last decade or two went from exporting rice to where they're at now
So if you're going this slow, there are some structural issues that you'll need to address first...

 

[Patriot forever]

IT exports are 650 million in last 3 months.

Yes precisely our IT exports were stuck around $1b for the past decade only started to grow from last FY . Now we are expecting around $2.5b this FY.

 

[Maula Jatt]

That's nothing, yeah by Pak standards it might be something but at global level not good enough

Look at Vietnam etc - in just last decade or two went from exporting rice to where they're at now
So if you're going this slow, there are some structural issues that you'll need to address first...

Oh in whole 5 years of PTI's term
I get it - it's ok than- I thought 5 years from now

 

[RangeMaster]

That's nothing, yeah by Pak standards it might be something but at global level not good enough

Look at Vietnam etc - in just last decade or two went from exporting rice to where they're at now
So if you're going this slow, there are some structural issues that you'll need to address first...

Yeah but It's something....! Exports were stagnant for the last 10 years.

 

[RangeMaster]

That's nothing, yeah by Pak standards it might be something but at global level not good enough

Look at Vietnam etc - in just last decade or two went from exporting rice to where they're at now
So if you're going this slow, there are some structural issues that you'll need to address first...

Low exports is one problem, but rising imports is another. If you have $200 billion in exports but you are importing goods worth over $250 billion, the CAD will be enough to destroy you.

7 billion dollars a month import bill is just ridiculous. That's 80+ billion dollars a year. And the money we earn from exports and remittances are roughly 60+ billion. So here comes 20+ billion CAD, which is killing us.

 

[RealNapster]

If we continue this momentum we will hit $30b this financial year

Even with $2.5 billion per month we will be able to attain $30 billion mark. With $3 billion each month we will be able to attain $36 billion mark.

That's nothing, yeah by Pak standards it might be something but at global level not good enough

Look at Vietnam etc - in just last decade or two went from exporting rice to where they're at now
So if you're going this slow, there are some structural issues that you'll need to address first...

27% increase in July-Nov is good start. We can not double our exports in a year. Not with out debt servicing situation atleast where get no money left for money making schemes and instead use all earnings to pay interest.

 

[Patriot forever]

That's nothing, yeah by Pak standards it might be something but at global level not good enough

Look at Vietnam etc - in just last decade or two went from exporting rice to where they're at now
So if you're going this slow, there are some structural issues that you'll need to address first...

Given what happened from 2013-2018 consider it a blessing. These countries did not grew their exports in a couple of years, they are constantly growing a few % each year, they worked hard for decades to get there.

Unlike imports, exports need significant capital investment, time, policies, capacity enhancement and so forth.

The major structural issues our exporters faced

1) Overvalued currency. ( Taken care off)

2) Energy/ electricity ( sadly with the non negotiable nature of IPP devastating agreements, cheap power/regionally competitive is something we can not give to our industries until the large dams come online and dilute the exorbant IPP costs by some degree).

3) Cheap credit/financing, TERF, LTFF and similar schemes especially the one now coming online for SME etc are remarkable. Sadly we can not overdo them due to external account constraints.With the IMF program and the fiscal discipline targets government is doing its max, can't afford to do more.

4) Our policies as well as tariff lines are reasonably aligned to protect against cheaper finished imports and to facilitate industrialization, just need to give them time.