pakistan’s exports surge by 35.33% to rs4.3 trillion in first half
Published on: January 22, 2024.
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Pakistan’s exports in the rupee term have seen a significant increase of 35.33% during the first half of the current fiscal year compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS). The provisional data released by the PBS shows that exports from July to December 2023 were recorded at 4,300,752 million rupees, a significant rise from the 3,177,893 million rupees in the same period last year.
In terms of year-on-year (YoY) basis, exports in December 2023 witnessed a remarkable surge of 54.59%, reaching 799,588 million rupees compared to the 517,240 million rupees recorded in October 2022. Furthermore, on a month-on-month (MoM) basis, exports increased by 8.86%, surpassing the exports of November 2023, which were valued at 734,541 million rupees.
The main products of exports in December 2023 included rice other than Basmati, knitwear, readymade garments, bed wear, cotton cloth, cotton yarn, towels, rice Basmati, made-up articles (excluding towels and bedwear), and meat and meat preparations.
On the other hand, Pakistan’s imports during July to December 2023 totaled 7,533,700 million rupees, showing a surge of 8.20%.
In terms of YoY basis, imports in December 2023 amounted to 1,317,463 million rupees, a notable increase from the 1,156,237 million rupees recorded in December 2022. Similarly, on an MoM basis, imports registered a 1.66% increase in December 2023 compared to November 2023.
The main commodities imported in December 2023 included petroleum crude, petroleum products, natural gas (liquefied), electric machinery and apparatus, palm oil, plastic materials, mobile phones, iron and steel, iron and steel scrap, and motor cars (completely knocked down or semi-knocked down).
Overall, Pakistan’s export sector is thriving, with a significant increase in exports and a steady flow of essential commodities. This growth reflects the country’s strong position in international trade and its ability to meet global demands. With exceptional products like rice, textiles, and garments, Pakistan continues to make its mark as a prominent player in the global market.
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**Source:** [https://en.wenews.pk](https://en.wenews.pk)
