Pakistan exports grew by a tremendous 17.5% in October 2021 to $2.471 billion compared to $2.104 billion in October 2020. It is the highest ever export recorded in October till the date. However, the target set for October 2021 was $2.6 billion.
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For July-Oct 2021, Pakistan’s exports grew by 25 percent to $9.468 billion compared to $7.576 billion during July-Oct 2020. The target for July-Oct 2021 was $9.6 billion.
Commerce Advisor Abdul Razak Dawood also expressed satisfaction over the development on Twitter. Here’s what he said:
During July-Oct 2021, Pakistan’s imports increased by 64 percent to $24.99 million compared to $15.19 billion during July-Oct 2020. About 40 percent of this increase is investment-driven (Capital Goods, Raw Material & Intermediates) which indicates an expansion of industry and enhanced activity by industry.
The remaining 60 percent of imports comprise Petroleum, Coal, and Gas (34%), Vaccines (11%), Food (8%), Consumer goods (2%), and all others (5%). Most of this is inelastic in nature.
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In absolute terms, the net increase in imports over this period is $9.801 billion. Of this, the Consumer Goods are $239 million, Food stood at $823 million, Capital Goods at $1,620 million, Raw Material & Intermediates at $2,209 million, Petroleum, Coal & Gas at $3,364 million, Vaccines at $1,068 million and all others at $478 million.
Pakistan exports increased by 17.5% in October 2021.
