Pakistan’s Exports for October Cross the $2 Billion Mark
Pakistan’s exports have crossed the $2 billion mark in October 2020, reaching pre-Covid-19 levels, Adviser to Prime Minister of Pakistan for Commerce and Investment announced through his Twitter on Monday.
He said that this growth has come despite the contraction in Pakistan’s major markets due to the pandemic, as well as the uncertainty caused within the country due to the resurgence of coronavirus cases.
In September, Pakistan’s exports amounted to $1.872 billion, which was an improvement upon August’s contracted figure of $1.6 billion. The month of July had seen exports worth $1.889 billion, after experiencing a decline in the entire second quarter of calendar year 2020, primarily due to Covid-19 lockdown.
The prevalent lockdowns in all over South Asia, and Pakistan loosening the restrictions before India and Bangladesh has paved the way for international brands to move their orders to Pakistan. While this is good news for both the export sector and the foreign exchange inflows for Pakistan, there are several economic factors to be counted upon to maintain this upward growth.