exports surge by 28.75% to rs 7.9 trillion in 11 months
Published on: June 21, 2024.
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Exports from Pakistan have seen a significant increase of 28.75% during the first eleven months of the current fiscal year, according to the Pakistan Bureau of Statistics (PBS). The total exports from July to May reached Rs. 7,962,082 million, compared to Rs. 6,183,949 million during the same period last year.
In May 2024 alone, exports increased by 25.99% to Rs. 790,199 million, compared to Rs. 627,199 million in May 2023. This represents a month-on-month increase of 20.83% from April 2024’s exports of Rs. 653,957 million.
A breakdown of the main commodities exported in May 2024 includes knitwear (Rs. 115,022 million), readymade garments (Rs. 97,564 million), bed wear (Rs. 77,184 million), rice others (Rs. 75,311 million), cotton cloth (Rs. 48,117 million), towels (Rs. 28,768 million), petroleum products (excluding top Naphta) (Rs. 25,393 million), rice Basmati (Rs. 20,807 million), madeup articles (excluding towels & bedwear) (Rs. 18,558 million), and cotton yarn (Rs. 17,883 million).
On the other hand, imports into Pakistan during July to May (FY2023-24) amounted to Rs. 14,109,047 million, showing a 14.96% increase from the same period last year. In May 2024, imports reached Rs. 1,376,815 million (provisional), marking 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 (Rs. 188,213 million), petroleum crude (Rs. 139,096 million), electric machinery & apparatus (Rs. 102,630 million), natural gas, liquified (Rs. 90,251 million), palm oil (Rs. 64,276 million), iron & steel (Rs. 57,624 million), plastic materials (Rs. 50,812 million), mobile phone (Rs. 44,198 million), medicinal products (Rs. 32,719 million), and iron and steel scrap (Rs. 31,537 million).
This positive growth in exports and imports is a testament to the strength of Pakistan’s economy and its ability to compete globally. With its diverse range of export commodities and improving trade relations, Pakistan has become an important player in the international market.
For more information on rice exports from Pakistan, please visit [this link](https://www.hasrice.com).
Source: [Daily Times](https://dailytimes.com.pk)
