Exports surge by 28.75% to reach Rs7.9 trillion in a span of 11 months
Published on: June 21, 2024.
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Exports from Pakistan have experienced a significant increase of 28.75% in the rupee term during the first eleven months of the current fiscal year, according to the Pakistan Bureau of Statistics (PBS). The total value of exports from July 2023 to May 2024 amounted to Rs7,962,082 million, compared to Rs6,183,949 million during the same period last year.
In May 2024 alone, exports from Pakistan increased by 25.99% to Rs790,199 million, up from Rs627,199 million in May 2023. On a month-on-month basis, exports in May 2024 saw a growth of 20.83% compared to April 2024, which recorded exports of Rs653,957 million.
The top commodities exported in May 2024 included knitwear (Rs115,022 million), readymade garments (Rs97,564 million), bed wear (Rs77,184 million), rice others (Rs75,311 million), cotton cloth (Rs48,117 million), towels (Rs28,768 million), petroleum products excluding top Naphta (Rs25,393 million), rice Basmati (Rs20,807 million), made-up articles excluding towels and bedwear (Rs18,558 million), and cotton yarn (Rs17,883 million).
On the other hand, the total value of imports into Pakistan from July 2023 to May 2024 reached Rs14,109,047 million, indicating a 14.96% increase compared to the corresponding period last year. In May 2024, imports amounted to Rs1,376,815 million, showing a 2.15% increase from April 2024 and a 12.05% increase from May 2023.
The main commodities imported in May 2024 were petroleum products (Rs188,213 million), petroleum crude (Rs139,096 million), electric machinery and apparatus (Rs102,630 million), natural gas liquified (Rs90,251 million), palm oil (Rs64,276 million), iron and steel (Rs57,624 million), plastic materials (Rs50,812 million), mobile phones (Rs44,198 million), medicinal products (Rs32,719 million), and iron and steel scrap (Rs31,537 million).
Overall, Pakistan’s export sector has witnessed significant growth, contributing positively to the country’s economy. The increase in exports highlights the potential of various industries, such as knitwear, readymade garments, and rice, to further expand and drive economic development.
For more information on Pakistan’s rice industry and to explore opportunities for rice exports, please visit [Pakistan Rice Exporters](https://www.hasrice.com) and [Pakistan Rice Suppliers](https://www.pakistanrice.com).
Source: [https://www.nation.com.pk](https://www.nation.com.pk){:target=”_blank” rel=”nofollow”}
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Exports
- Month-on-month increase of 20.83% in exports in May 2024.
- Top exported commodities in May 2024: knitwear, readymade garments, bed wear, rice others, cotton cloth, towels, petroleum products, rice Basmati, made-up articles, and cotton yarn.
Imports
- 14.96% increase in imports during July–May (FY2023-24).
- Main imported commodities in May 2024: petroleum products, petroleum crude, electric machinery and apparatus, natural gas liquified, palm oil, iron and steel, plastic materials, mobile phones, medicinal products, and iron and steel scrap.
Pakistan’s export sector has contributed significantly to the country’s economy, with various industries showing potential for further growth. To explore opportunities for rice exports, visit Pakistan Rice Exporters and Pakistan Rice Suppliers.
Source: https://www.nation.com.pk
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