Pakistan’s exports recorded an increase of 14% to $22.563 billion during the July-May period of 2021, tweeted Adviser to the PM on Commerce Abdul Razak Dawood on Wednesday.
He said, “The Ministry of Commerce is pleased to share that according to provisional figures, our exports during July-May 2021 increased by 14% to $22.563 billion as compared to $19.801 billion in July-May 2020.”
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Dawood added that the credit for the $2.76 billion increase goes to our exporters for maintaining the momentum of our exports during a year marred by contraction and uncertainty in our major markets. Meanwhile, on a monthly comparison with last year, the exports increased by 18.7% to $1.657 billion in May 2021 compared to $1.396 billion in May 2020.
“The dip in exports to below $2-billion mark is because of extended Eid holidays, which was done to curtail the spread of Covid-19,” the adviser added. Pakistan’s trade deficit has widened to $23.8 billion in the 10 months of the current fiscal year, posing a challenge to the government that wants to kick-start the economy but was not getting help from the export sector.
Published in The Express Tribune, June 3rd, 2021.