According to the Advisor to the Prime Minister for Commerce and Investment Abdul Razak Dawood, exports of Pakistan have surpassed $2 billion for consecutive five months, but are down year-on-year.
“Our exports for February-2021 (28 days) are USD 2,044 million, down 4.5 percent from USD 2,140 million in February-2020 (29 days),” he tweeted.
He also reported that Pakistan’s exports increased by 4.2 percent to $16,300 million from July 2020 to February 2021, compared to $15,643 million in the previous fiscal year.
“We would like to congratulate our exporters on their hard work in earning foreign exchange for the country, and we would like to encourage them to market their exports even more aggressively,” the advisor added.
Despite increasing exports, Pakistan’s trade deficit has been steadily increasing. The deficit had risen to $2.6 billion by January 2021, owing primarily to increased imports. This is up from a trade deficit of $2.15 billion in January 2020.
Imports have rose by 15% in January 2021, reaching $4.73 billion, compared to $4.12 billion in January 2020.
