Pakistan Records Highest Ever Exports for December

Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razak Dawood, said on Friday that Pakistan’s exports for December 2020 have grown by 18.3 percent to $2.357 billion.

Pakistan’s exports grew for the fourth consecutive month in December.

He said that this is the highest export ever in December, adding, “for the period July-December 2020, our exports increased by 4.9 percent to USD 12.104 billion as compared to USD 11.533 billion in the corresponding period last year”.

As compared with November 2020 figures, it grew by 9.07 percent. During November, the trade figures had grown to $2.161 billion.

Managing Director at Khadim Ali Shah Bukhari Securities, A.A.H Soomro, told ProPakistani,

This is a shockingly positive surprise. Double-digit growth in Exports would change the growth momentum. Need to see the break-up, but policies seem to be bearing fruits on cheaper energy, prompt refunds & ease of doing business. Need to widen the base & focus on service & manufacturing exports. Very impressive numbers!

However, it may be noted here that the figures that the adviser shared on Friday afternoon are provisional figures from the Ministry of Commerce. The actual data is yet to be released by the Pakistan Bureau of Statistics (PBS) regarding exports as well as other factors like trade deficit.

Sharing the provisional data, Dawood said that this shows the resilience of the economy of Pakistan, and it is a vindication of the government’s policy to keep the wheels of the economy running during the 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 international trade,” he said, concluding with a hearty appreciation, with the words, “Exporters you are a great asset for our country and I salute you all.”

 

Source: Propakistani