Pakistan’s Exports Surge by 25.54% to Cross Rs 2 Trillion
Published on: October 20, 2023.
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Exports from Pakistan Show Strong Growth in Q1 of FY2023-24
In the first quarter of the current fiscal year, Pakistan’s exports in rupee terms registered an impressive increase of 25.54 percent compared to the same period last year, according to data released by the Pakistan Bureau of Statistics (PBS).
During July to September 2023, the exports amounted to Rs.2,013,533 million, compared to Rs.1,603,869 million in the corresponding period of the previous year. This substantial increase reflects a positive trend in Pakistan’s export sector.
The year-on-year comparison for September 2023 also showed significant growth, with a 31.27 percent increase in exports. The exports for September 2023 reached Rs.737,295 million, compared to Rs.561,643 million in September 2022.
Moreover, on a month-on-month basis, there was a 6.06 percent increase in exports for September 2023, compared to August 2023, reaching Rs.695,136 million.
The main exported commodities in August 2023, which remained the major exports in September 2023, were knitwear (Rs.103,029 million), readymade garments (Rs.74,608 million), bed wear (Rs.69,234 million), cotton cloth (Rs.51,891 million), oil seeds, nuts, and kernels (Rs.46,571 million), cotton yarn (Rs.33,815 million), rice others (Rs.32,324 million), towels (Rs.25,116 million), rice basmati (Rs.19,008 million), and madeup articles excluding towels and bedwear (Rs.16,922 million).
In contrast, imports during July to September 2023 amounted to Rs.3,560,763 million, showing a slight decrease of 2.45 percent compared to the same period last year.
However, when analyzing imports on a year-on-year basis for September 2023, there was a decline of 2.52 percent. Imports for September 2023 totaled Rs.1,189,167 million, compared to Rs.1,219,956 million in September 2022.
On the other hand, imports for September 2023 saw a month-on-month increase of 10.62 percent, reaching Rs.1,330,458 million compared to August 2023.
The major imported commodities in September 2023 were petroleum products (Rs.162,087 million), petroleum crude (Rs.146,179 million), natural gas, liquified (Rs.75,331 million), palm oil (Rs.61,388 million), plastic materials (Rs.49,628 million), electric machinery & apparatus (Rs.44,699 million), iron & steel (Rs.44,191 million), mobile phones (Rs.37,093 million), iron & steel scrap (Rs.27,299 million), and pulses/leguminous vegetables (Rs.22,208 million).
Overall, Pakistan’s exports have shown significant growth in the first quarter of FY2023-24, indicating a positive trend for the country’s export sector. These numbers are a testament to the resilience and competitiveness of Pakistani exporters.
Source: [ARY News](https://arynews.tv)
