Exports Surge by 25.54% to Cross Rs2tr in Q1
Published on: October 20, 2023.
Filed under:
Exports from Pakistan experienced a significant increase of 25.54 percent during the first quarter of the current fiscal year, according to the Pakistan Bureau of Statistics (PBS). This growth is compared to the same period in the previous year, with exports reaching Rs2,013,533 million from Rs1,603,869 million. The provisional data released by PBS also revealed that September 2023 saw a year-on-year increase of 31.27 percent, with exports amounting to Rs737,295 million compared to Rs561,643 million in September 2022. On a month-on-month basis, exports increased by 6.06 percent when compared to August 2023.
The leading commodities exported in August 2023 continued to dominate in September, including knitwear, readymade garments, bed wear, cotton cloth, oil seeds, nuts and kernels, cotton yarn, rice others, towels, rice basmati, and made-up articles excluding towels and bedwear. These products collectively contributed significantly to the growth in exports during this period.
Imports into Pakistan during the July-September period of the current fiscal year totaled Rs3,560,763 million, showing a decrease of 2.45 percent compared to the same period last year. Imports in September 2023 amounted to Rs1,189,167 million, declining by 2.52 percent from September 2022. However, there was an overall increase of 10.62 percent in imports for September 2023 compared to August 2023.
The main commodities imported in September 2023 included petroleum products, petroleum crude, natural gas (liquefied), palm oil, plastic materials, electric machinery and apparatus, iron and steel, mobile phones, iron and steel scrap, and pulses/leguminous vegetables. These imports contributed to the overall decrease in imports during the period.
In addition to the general export performance, the country’s food group exports also saw a positive trend in the first quarter of the financial year 2023-24. The data from the Pakistan Bureau of Statistics showed an increase of 18.88 percent in food commodities exports compared to the corresponding period of the previous year. From July to September 2023, food exports amounted to $1.280 billion, an increase from $1.077 billion in the same period last year.
Overall, Pakistan’s export sector has shown promising growth, especially in key commodities such as rice. To learn more about rice exporters in Pakistan, visit [hasrice.com](https://www.hasrice.com) and [pakistanrice.com](https://www.pakistanrice.com).
Source: [Nation](https://www.nation.com.pk)
