Pakistan’s exports rose 8 percent to $ 2.14 billion in January 2021, up from $ 1.98 billion in the corresponding month of 2020.
The increase in total exports was mainly due to double-digit growth in income in the textile and apparel sectors, as well as a small number of other goods such as mechanical engineering, surgical instruments and value-added leather goods.
In a statement released by the Ministry of Commerce and Trade, Abdul Razzak Dawood, said the country’s exports have maintained a steady trend in the current fiscal year, as they surpass the $ 2 billion barrier for the fifth straight month (the first in eight years) in January.
Exports for the July-January fiscal year were up 5.5% to $ 14.24 billion as per the initial data, up from $ 13.50 billion in the corresponding months of fiscal 2020.
Abdul Razzak Dawood further highlighted that Pakistani exporters have achieved this feat despite the difficulties caused by the Covid-19 pandemic, the regional export situation and the downturn in export markets. He urged exporters to do their best to export their products within a friendly government system.
Pakistan’s exports had fallen by 19% in August 2020, and then recovered in September, October and November.
The measures announced as part of the export promotion measures led to an increase in the number of export permits from 71,190 in July 2020 to 79,756 in December 2020, i.e. by 11%.
In addition, duty refund rates for at least eight sectors have been revised upward as part of the Make in Pakistan initiative. During the entire process, more than 434,000 claims were processed, of which 7,800 exporters took advantage of this initiative.