Pakistan’s export of arms and ammunition have made a great stride with a staggering 30 times higher growth than the previous year to stand at $415.650 million in the outgoing financial year 2022-23—the remarkable year.
According to the data released by the State Bank of Pakistan (SBP), the export receipts under arms, ammunition, parts, and accessories surged to $415.650 million in FY2023 as compared to export earnings of $13.215 million recorded in the same year, showing a whopping increase of 3,045 percent year-on-year.
The export earnings from the defense production unleashed its potential which contributed remarkably to the overall export of the country. The record of the export of arms and ammunition is not available as the deals are highly confidential between the countries.
However, the country attracted different buyer countries for its flagship JF-17 Thunder which could fetch handsome receipts of exports for the country. Recently, the Iraqi government showed its interest to acquire a series of JF-17s for its Air Force.
With achieving outstanding growth in defense exports, Pakistan has all potential to touch its ambitious target of $1 billion in defense export per annum, which it set a couple of years ago.
If this is the case then who is benefitting woth the dollars
This is high confedential as usual.It will be revealed after 5 years.
Our pets
Good effort. Defence production will make us self reliable, and we must give all the facilities to them to produce advance rersion of arm and ammunition.