Positive development for Pakistan on the exports front
*Despite the global slowdown, Pakistan’s exports have maintained their upward trajectory, as the country’s vital textile sector continues to boost impressive export growth.*
As per the latest data shared by Advisor to Prime Minister on Trade and Investment Abdul Razak Dawood, the figures for Jul-Dec 2020 show that the exports of Home Textiles increased by 16% to USD 2,017 million, Readymade Garments by 25% to USD 1,181 million and Tents/Canvas by 57% to USD 62 million.
“It is heartening to note that the textile sector is maintaining its export growth,” said Dawood in a series of tweets on Wednesday.
The advisor added that “it is even more encouraging to note that the non-textile sector exports are also showing healthy growth.”
During Jul-Dec 2020, the exports of pharmaceuticals increased by 25% to USD 138 million, Ethyl Alcohol (Industrial) by 14% to USD 182 million, Tobacco and Cigarettes by 84.50% to USD 29 million, and Processed Food by 120% to USD 25 million.
Earlier, Pakistan exports for month of December 2020 have grown by 18.3% to USD 2.357 billion as compared to USD 1.993 billion in December 2019, an increase of USD 364 million over December 2019.
“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 COVID-19 pandemic. I commend our exporters for achieving this feat during these testing times and urge them to aggressively focus on capturing a larger share of int'l trade,” stated Dawood.