By Staff Reporter
ISLAMABAD: The trade sector posted a significant improvement in the first 20 days of December, with exports rising by 33.1 percent and imports falling by 12.8 percent year-on-year, the Ministry of Commerce said.
The ministry said the positive trend resulted in an $884 million improvement in the balance of trade for December, adding to the $5.6 billion year-on-year improvement in the balance of trade from July to December.
Caretaker Trade Minister Gohar Ejaz said the figures reflected Pakistan’s resilience and competitiveness in the global market and vowed to continue supporting the exporters and exploring new markets.
“The positive trade figures and upward trend showcase Pakistan’s resilience. We will continue to work towards enabling our exporters and to find new destinations for exports,” Ejaz said in a statement.
The ministry said the agricultural and food exports witnessed an extraordinary 109.2 percent year-on-year increase, totaling $574.6 million in the first 20 days of December, driven by strong performances in maize, corn, ethyl, alcohol, tobacco, and rice exports.
The textile sector and the manufacturing & engineering sector also demonstrated a commendable 15 percent year-on-year increase in exports during the same period, the ministry said.
Pakistan’s exports witnessed significant growth to key destinations, including Indonesia, the United Arab Emirates, Madagascar, and China.
The exports soared to $14 billion from July 1 to December 20, showing a year-on-year increase of $709 million, or 5.3 percent. The imports dropped to $24.3 billion from $29.2 billion in the same period of the previous fiscal year, reflecting a year-on-year decrease of $4.9 billion, or 16.8 percent.
The ministry said these achievements underscored Pakistan’s resilience and competitiveness in the global market and expressed confidence in the continuation of this upward trend.
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