ISLAMABAD: Pakistan’s exports grew for the fourth consecutive month in December to $2.357 billion, up 18.3 per cent from $1.993bn in the corresponding month last year, the Ministry of Commerce has claimed.
The ministry said that December export proceeds posted growth of 8.4pc when compared with $2.174bn in November 2020.
The increase in overall exports is mainly driven by double-digit growth in proceeds from textile and clothing sectors as well as engineering products, surgical instruments and value-added leather products, according to the ministry.
It is pertinent to mention here that the Pakistan Bureau of Statistics (PBS) is yet to share its data on the matter.
Commerce Adviser Razak Dawood said that 18.3pc growth in export proceeds in the month of December is the highest export ever.
“It gives me immense pleasure to inform that, Alhamdolillah, according to provisional data, Pakistan exports for the month of December 2020 have grown by 18.3 per cent to $ 2.357 billion as compared to $ 1.993 billion in December 2019, an increase of $ 364 million over December 2019,” Dawood said in a series of tweets on Friday.
“Between July to December, the export proceeds increased by 4.9pc to $12.104bn as compared to $11.533bn in the corresponding period last year.”
This is the HIGHEST EXPORT EVER IN THE MONTH OF DECEMBER.
For the period July-December 2020, our exports increased by 4.9% to USD 12.104 billion as compared to USD 11.533 billion in the corresponding period last year. 2/4— Abdul Razak Dawood (@razak_dawood) January 1, 2021
“This shows the resilience of the economy of Pakistan and it is a vindication of the government’s policy to keep the wheels of economy running during the Covid-19 pandemic”, the adviser added.
The adviser went on to say that he commended exporters for achieving this feat during these testing times and urged them to aggressively focus on capturing a larger share of international trade.
Exports in the new fiscal year started on a positive note but witnessed a steep decline of 19pc in August before rebounding in September, October, and November.
To promote exports of textile and non-textile products, the government is providing cash subsidies besides slashing duty and taxes on the import of raw materials.
In FY20, exports fell by 6.83pc or $1.57bn to $21.4bn, compared to $22.97bn the previous year. Data shows visible improvements in export orders from international buyers, mainly in the textile and clothing sectors since May.
Further, Prime Minister (PM) Imran Khan took to Twitter to extend congratulations to exporters for achieving record exports in the month of December 2020. “Congratulations to all the exporters on achieving record exports in Dec 2020 with a growth of 18% over the previous year. Well done & keep up this trend. A major pillar of our govt’s economic policy is export enhancement & we will provide full support to promote export culture,” the prime minister tweeted.
Congratulations to all the exporters on achieving record exports in Dec 2020 with a growth of 18 % over the previous year. Well done & keep up this trend. A major pillar of our govt’s economic policy is export enhancement & we will provide full support to promote export culture.
— Imran Khan (@ImranKhanPTI) January 1, 2021
