Exports Rise by 35% to Rs 4.3 Trillion in First Half
Published on: January 23, 2024.
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Exports from Pakistan have experienced a significant increase of 35.33 percent during the first half of the current fiscal year compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS). This surge in exports is evident in the provisional data released by the PBS, which reveals that exports from July to December (2023-24) reached Rs.4,300,752 million, whereas the corresponding period in the previous year saw exports amount to Rs.3,177,893 million.
The year-on-year comparison for exports in December 2023 demonstrates a remarkable growth rate of 54.59 percent. The total export value for that month stood at Rs.799,588 million, while in October 2022, it was Rs.517,240 million. Furthermore, when compared with November 2023, there was an 8.86 percent increase in exports, with the figure reaching Rs.734,541 million.
It is interesting to note the leading commodities that contributed to this surge in exports in December 2023. Among them, rice other than Basmati accounted for Rs.124,040 million, knitwear for Rs.103,898 million, readymade garments for Rs.84,569 million, bed wear for Rs.64,119 million, cotton cloth for Rs.40,678 million, cotton yarn for Rs.26,984 million, towels for Rs.24,814 million, rice Basmati for Rs.22,888 million, badeup articles excluding towels and bedwear for Rs.16,991 million, and meat and meat preparations for Rs.12,472 million.
On a contrasting note, imports to Pakistan during July-December (2023-24) amounted to Rs.7,533,700 million. This represents an 8.20 percent increase compared to the corresponding period in the previous year, which recorded imports of Rs.6,962,865 million.
Looking at December 2023 in isolation, imports reached Rs.1,317,463 million. In comparison to December 2022, this is a 13.94 percent increase. Similarly, when comparing imports to November 2023, there was a 1.66 percent rise, with imports amounting to Rs.1,295,968 million.
Highlighting the main commodities imported in December 2023, petroleum crude accounted for Rs.158,260 million, petroleum products for Rs.150,888 million, natural gas (liquefied) for Rs.109,516 million, electric machinery and apparatus for Rs.63,667 million, palm oil for Rs.60,316 million, plastic materials for Rs.52,218 million, mobile phones for Rs.49,887 million, iron and steel for Rs.41,654 million, iron and steel scrap for Rs.30,426 million, and motor cars (completely knocked down or semi-knocked down) for Rs.29,543 million.
This surge in exports and imports signifies the growth and economic activity taking place in Pakistan. It emphasizes the country’s position as a major player in the global market, particularly in terms of its exports of commodities such as rice. As the statistics demonstrate, rice exporters and suppliers from Pakistan play a significant role in the country’s economy. These exporters can be linked to websites such as hasrice.com and pakistanrice.com, which provide valuable information and resources for those interested in rice exports from Pakistan. Additionally, it is essential to mention the availability of different types of rice, such as white broken rice, which is a highly sought-after variety in the market. Further details regarding pricing and specific rice varieties can be found on the respective websites. For instance, hasrice.com offers comprehensive information on rice prices in Pakistan, including prices for IRRI 6 rice and basmati rice, while pakistanrice.com serves as a platform for accessing rice exporters and suppliers in the country.
To explore the full potential of the rice business in Pakistan and to engage with the relevant stakeholders, it is crucial to connect with rice mills, exporters, and suppliers. hasrice.com and pakistanrice.com are the go-to sources for information on rice mills and suppliers in Pakistan. These websites cater to the needs of individuals and companies interested in establishing trade partnerships and exploring various growth opportunities. Pakistani rice companies and exporters can benefit greatly from the resources provided by these platforms.
In conclusion, the increase in exports and imports in Pakistan is a positive sign for the country’s economy. The surge in exports, especially in commodities like rice, highlights the valuable contributions of rice exporters and suppliers from Pakistan. It is crucial for industry players to connect with reliable sources such as hasrice.com and pakistanrice.com to access relevant information, pricing details, and potential trade partnerships. By doing so, they can harness the vast opportunities within the rice business in Pakistan and contribute to the country’s economic growth.
**Source:** [Daily Times](https://dailytimes.com.pk)
