Pakistan Reports Highest Monthly Exports in 10 Years

[TheDarkKnight]

Pakistan’s exports have increased to $2.345 billion in March 2021, according to the provisional figures by the Ministry of Commerce, said Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, on Thursday.

He took to Twitter and announced, “Ministry of Commerce is glad to share that according to provisional figures, in March 2021 our exports increased to USD 2.345 billion. This is an increase of 13.4 percent over Feb-2021. It is the monthly highest in last ten years.”

He said that this is also the first time since 2011 that the country’s exports have crossed the $2 billion mark for six consecutive months. The export growth of 29.3 percent over March 2020 should not be considered as it is misleading since there was a lockdown last year, he noted.

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The adviser wrote, “The imports in March 2021 grew to USD 5.313 billion, which is mainly due to increased imports of Petroleum, Wheat, Soy Bean, Machinery, Raw Material and Chemicals, Mobiles, Fertilizers, Tyres and Antibiotics & Vaccines in March 2021.”

For the 9-month period of July 2020 to March 2021 of the current Financial Year (FY), Pakistan’s exports have increased by 7 percent to $18.669 billion compared to $17.451 billion in the corresponding period last year. During the same period, the import grew by 12 percent to USD 39.210 billion this fiscal year compared to $34.817 billion in the last fiscal year.

This growth has come from an increase in the import of raw material and the import of wheat, sugar, and cotton, Dawood explained.

Pakistan Reports Highest March Exports in 10 Years

Pakistan’s exports have increased to $2.345 billion in March 2021, according to the provisional figures by the Ministry of Commerce,

propakistani.pk

 

[Mrc]

Exports shud b pushed beyond 2.5 billion this financial year totally achievable

Than beyond 3 next financial year if pti wants to survive

 

[mourning sage]

This is a classical example of economical policies producing results with a time lag. The negative impact of the monetary policies usually shows immediately whereas the more desirable ones take time as the system assimilates.

Rupee devaluation, interest rate reduction, subsidies for textile exports and removal of duties from raw materials to name a few were extra ordinarily handled.

 

[Patriot forever]

Exports shud b pushed beyond 2.5 billion this financial year totally achievable

Than beyond 3 next financial year if pti wants to survive

To pass 2.5 billion we need to have comparable capacity and diversification, which requires both proper incentives and financial investment. Exports don't grow in double digits, it is a painstaking process. Pti policies are geared towards achieving that but there are massive hurdles. Government does not have the fiscal luxury right now. From what I see by 2023 we will most likely achieve that figure IA. Right now our focus should be to sustain $2.2-3b target for the next financial year, give the imf programme and subsequent imminent electricity tariff revision, shifting captive to grid, it will be a big achievement on it's own.

Bro we need to be realistic. It will take our nation just 5 yrs minimum of fire fighting to mitigate the damage done in the last decade and achieve stability. From dealing with SOE, fbr reforms, power sector, completing imf package. We need to be patient.