ISLAMABAD: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood has said Pakistan’s exports fell by 4.5 percent in February as compared to the corresponding period from a year ago.
According to data released by the Ministry of Commerce, export proceeds fell to $2.044 billion in February, down by 4.5% from $2.14 billion in the corresponding month last 2020.
Between July and February of the current fiscal year, Pakistan’s exports increased by 4.2pc to $16.30bn as compared to $15.643bn over the corresponding months of last year.
Abdul Razak Dawood said that Pakistan’s exports remained above the $2 billion marks for the past five consecutive months. Although the Advisor did not give any reasons for the month-on-month decline in the exports.
Razak Dawood also did not share import figures and only release figures on export proceeds, which has steadily been on the rise for the past few months leading to a higher trade deficit.
He further said they congratulated exporters for their hard work in earning foreign exchange for the country and urge them to market their exports even more aggressively.
In January, Razak Dawood had said that Pakistani companies had received trade orders worth $2 million and deals of $ 3 million were under process in the International Trade fair held in Khartoum.
On a social media website Twitter, Razak Dawood said, “I congratulated Universal Motors which received an order for 280 motorcycles.” The advisor further said the agro-machinery, pharmaceutical, glass and fruit sectors received very good responses at the trade fair.
“I am glad to share that as a part of the Ministry of Commerce’s Look Africa Policy initiative launched in 2017, Pakistan has successfully participated in the International Trade Fair at Khartoum (Sudan) was held from January 21-28 2021,” Razak Dawood added.
He said that local companies participated in the exhibition despite difficulties created by COVID. Although numbers were small, the products and directions were right, he said. “I congratulate our exporters and encourage them to aggressively market exports in Africa to get an increased share of the market,” he said.
https://twitter.com/razak_dawood/status/1355453507692875778
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