Pakistan’s Exports Reach $100 Million Per Day in February

Pakistan’s exports reached $100 million per day in February, which is an impressive record for the economy. This was stated by Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood while presiding over a consultative meeting to discuss the trade trends for the financial year 2021-22.

The adviser was informed that according to the provisional figures compiled by the Pakistan Bureau of Statistics (PBS) exports from Pakistan during February 2022 grew by 7.9 percent to $2.820 billion as compared to $2.614 billion in January 2022. They increased by 36.4 percent as compared to $2.068 billion in February 2021. He was informed that for the first time, export reached $100 million per day in February 2022.

He was informed that there were indications that the growth in imports has started to decline. The imports in February 2022 decreased by 2.14 percent to $5.907 billion as compared to $6.036 million in January 2022.

He was briefed that important exports commodities showed substantial double-digit growth in February 2022 over February 2021. These included knitwear (grew by 57 percent), readymade garments (64 percent), bed wear (43 percent), cotton cloth (73 percent), non-basmati rice (51 percent), cotton yarn (17 percent), towels (44 percent), rice basmati (67 percent), made-ups excl. towels & bedwear (22 percent) and plastic materials by 119 percent.

The adviser was informed that in terms of markets, Pakistan’s exports to the United States grew by 25 percent, United Arab Emirates (118 percent), Netherlands (94 percent), Germany (60 percent), Italy (102 percent), Spain (90 percent), United Kingdom (27 percent), China (17 percent), Bangladesh (62 percent) and Turkey (157 percent).

Dawood expressed his satisfaction with the growth of exports and advised the officials of the Ministry of Commerce to monitor export growth so that the momentum is maintained and necessary interventions are made if and when necessary.