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Pakistan’s exports grew to US$ 2.345 million in March 2021

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ISLAMABAD, Pakistan: Pakistan’s exports increased to US$ 2.345 million in March 2021 which is the monthly highest in the last 10 years, according to the provisional figures shared by the Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood.

Sharing the data on Thursday, the adviser told that there is an increase of 13.4% over February 2021 as compared to US$ 2.345 million exports recorded in March 2021.

Abdul Razak Dawood said that this is also the first time since 2011 that Pakistan’s exports have crossed the US$ 2 billion mark for six consecutive months.

The adviser said that the export growth of 29.3% over March 2020 should not be considered as it is misleading since there was a lockdown last year.

Further, he told that Pakistan’s imports in March 2021 grew to US$ 5,313 million which is mainly due to increased imports of Petroleum, Wheat, Soy Bean, Machinery, Raw Material & Chemicals, Mobiles, Fertilizers, Tyres, and Antibiotics & Vaccines in March 2021.

Abdul Razak Dawood said that for the nine-month period of July-March 2021 of the current Financial Year (FY), Pakistan’s exports increased by 7% to US$ 18.669 billion as compared to US$ 17.451 billion in the corresponding period last year.

During the same period, the import grew by 12% to US$ 39.210 billion this FY as compared to US$ 34.817 billion in the last FY.

This growth has come from an increase in the import of raw material as well as the import of wheat, sugar, and cotton, he said.

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