Pakistan’s exports register 17.3% growth in March

ISLAMABAD: During the month of March Pakistan’s exports raised to $2.773bn at a rate of 17.3% in comparison with $2.365bn recorded in the same period last year.

Contrarily, the preliminary data from the Pakistan Bureau of Statistics (PBS) shows that on an MoM basis the exports have dropped by 2% to $2.77bn in March 2022, as compared to $2.82bn during the month of February.

Abdul Razak Dawood, the advisor to the PM on Commerce and Investment, posted on a social media platform: “We are glad to share that Pakistan’s exports for Mar-2022 grew by 17.3% to $2.773bn as compared to $2.365bn Mar-2021.

For Jul-Mar 2022, our exports grew by 25% to $23.332bn as compared to $18.688bn in Jul-Mar 2021. This is an increase of $4.644bn.”

For maintaining the momentum of exports, Dawood applauded the exporters by saying that “our exports are in line with our targets & we expect to achieve our yearly target.”

According to the figures released by the State Bank of Pakistan (SBP), during the month of February Pakistan’s current account deficit was $545 mln, which was over 16 times more than it was during the same month last year.

During the period of the first eight months i.e. July- February of the current fiscal year 2021-2022 the trade deficit increased by 82.2%, and it reached $31.959bn in contrast to $17.535bn during the same period of 2020-2021.

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