After a decrease in exports during the month of August, Pakistan’s exports for the month of September 2020 posted a growth of 6% to $1.872 billion, as compared to the same period last year.
This was stated by the Advisor to Prime Minister on Trade and Commerce Abdul Razak Dawood on Friday.
Alhamdolillah, the export figures for Sep 2020 have shown improvement. As compared to Sep 2019, our exports have grown 6% to USD 1.872 billion. Although this is better than decrease of 15% in Aug 2020, I still feel that with sufficient backlog of orders we can do much better. 1/2
— Abdul Razak Dawood (@razak_dawood) October 2, 2020
A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities told ProPakistani,
The growth is still anemic after currency depreciation & August lows. There is a long way to go for export revival. The mind-set has to change. The growth ought to be double digits. Period”
The advisor urged the exporters that besides executing current orders, they should pursue more orders from existing markets and reach out to untapped markets. “I am hopeful that in October 2020 we will have further growth,” he said
It is worth mentioning that the Commerce Ministry usually releases provisional foreign trade figures during the first few days of each month in case of slight variation (negative or positive) in exports and a substantial decline in imports.
Pakistan Bureau of Statistics (PBS) is expected to release provisional foreign trade figures within the next few days or so.
