ISLAMABAD – Adviser to the Prime Minister for Commerce and Investment AbdulRazaq Dawood Friday said the country’s exports had increased by 14 percentto US$ 22.563 billion during July to May 2020-21, as compared to the sameperiod in FY 2019-20.
On a monthly comparison with last year, in May 2021 the Exports increasedby 18.7 percent to US$ 1.657 billion as compared to US1.396 billion in May2020.
A consultative meeting was held by the Adviser to Prime Minister forCommerce and Investment Abdul Razaq Dawood to review the trade trends atthe Ministry of Commerce, said a press release issued by the Ministry ofCommerce here.
He was informed that according to the provisional (PRE-PBS) figures;monthly exports in May, 2021 have been on the higher side compared to May2020.
As a result, the exports in May increased to US$1.657 Billion compared toUS $1.396 Billion in May 2021. This shows an increase of 18.7 percent.
He was further informed that since there was an extended Eid holiday tocontrol the spike of Coronavirus which also affected the overall exports inMay.
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The adviser was informed that geographically; in May 2021 top exports’destinations are USA, China, UK, Afghanistan, Bangladesh, Australia, SriLanka, and Kazakhstan.
He was also informed that imports in May 2021, grew to US$2.863 billionwhich has mainly been due to increased imports of petroleum, palm oil,wheat, soybean, machinery, raw material and chemicals, fertilizers, andsynthetic filament yarn.
Razak Dawood paid rich tributes to Pakistan’s exporters for thisperformance during difficult times despite the COVID-19 rise in May andcontraction in Pakistan’s major markets and the difficulties created by therecent upsurge of COVID-19.
