Pakistan’s exports are expected to reach $31 billion in the current fiscal year, a growth of over 10% compared to the previous year.
According to sources in the Pakistan Bureau of Statistics, the country’s exports stood at $28.07 billion during the first 11 months of the current fiscal year, showing an increase of 10.65% over the same period last year.
The increase is attributed to a surge in exports of food items, particularly rice, and a significant increase in exports to China.
The country’s exports to China increased by 37.68% during the first 10 months of the current fiscal year, compared to the same period last year. Pakistan’s exports to other countries, including the US, UAE, and Saudi Arabia, also showed an increase.
The growth in exports is seen as a positive development for Pakistan’s economy, which has been facing challenges in recent times.
The government’s focus on enhancing non-traditional exports to China and the GCC countries has yielded results, with a significant increase in exports of non-textile items.
The increase in exports is expected to continue in the coming months, with June expected to remain a strong month for exports. The growth in exports is expected to help narrow the trade deficit, which has been a major concern for Pakistan’s economy.
The country’s trade deficit narrowed by 15.25% during the first 11 months of the current fiscal year, compared to the same period last year.
The improvement in exports is seen as a sign of a turnaround in Pakistan’s economy, and the government is expected to continue its efforts to enhance exports and improve the overall economic situation.
