ISLAMABAD, Pakistan: Pakistan’s exports to The Philippines increased by 36 percent during July-November 2020, the first five months of the ongoing Fiscal Year 2020-21.
In a statement on Saturday, the Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood said that The Philippines has emerged as a fast-growing market for Pakistan’s exports.
The adviser said that during July-November 2020, exports to The Philippines increased by 36 percent to US$ 41 million from US$ 30 million recorded in the same period last year.
Abdul Razak Dawood said that in November 2020, exports to The Philippines grew by 16 percent to US$ 13 million as compared to US$ 4.8 million in November 2019.
“This is in line with our geographical diversification policy,” he said.
In a separate statement, the Adviser for Commerce and Investment said that in November 2020, the exports of cotton yarn declined by 25 percent, raw leather by 21 percent, and cotton fabric by 12.2 percent.
The adviser said that this is an indication that exports of low value-added products are decreasing and we are moving towards more value-added exports.
Abdul Razak Dawood urged the exporters to keep pursuing this policy.