GlobalVillageSpace
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Global Village Space
Recently released export data for the first ten months of fiscal year 21 reveal the highest merchandise export values in history. The recovery is most remarkable given the disruptions to world trade that emerged due to the global COVID19 pandemic and were recently further exacerbated by the six-day blockade of the Suez Canal in March 2021.
Different and complementary hypotheses have been put forward to explain the circumstantial export pick up; ranging from a government response to the COVID19 pandemic that to some extent insulated the export sector from mobility restrictions to substantial and subsidized liquidity support to exporters, the maintenance of a market-based exchange rate regime that buffers external shocks, to the ingenuity of exporters in seizing opportunities arising from global buyers shifting suppliers due to COVID-triggered disruptions.
The truth of the matter is: Pakistan’s exports, 6.5 percent up or down, remain low, whether benchmarked against comparator countries in the region and beyond, or against Pakistan’s own export potential.
Read full article: Finding Pakistan’s missing exports
Recently released export data for the first ten months of fiscal year 21 reveal the highest merchandise export values in history. The recovery is most remarkable given the disruptions to world trade that emerged due to the global COVID19 pandemic and were recently further exacerbated by the six-day blockade of the Suez Canal in March 2021.
Different and complementary hypotheses have been put forward to explain the circumstantial export pick up; ranging from a government response to the COVID19 pandemic that to some extent insulated the export sector from mobility restrictions to substantial and subsidized liquidity support to exporters, the maintenance of a market-based exchange rate regime that buffers external shocks, to the ingenuity of exporters in seizing opportunities arising from global buyers shifting suppliers due to COVID-triggered disruptions.
The truth of the matter is: Pakistan’s exports, 6.5 percent up or down, remain low, whether benchmarked against comparator countries in the region and beyond, or against Pakistan’s own export potential.
Read full article: Finding Pakistan’s missing exports
