Exports increased by 4.8% in last five months: Hafeez Shaikh

ISLAMABAD: Advisor to Prime Minister on Finance Dr. Abdul Hafeez Shaikh has said that the exports increased by 4.8 percent in the last five months.

In a tweet, Dr. Abdul Hafeez Shaikh posted that from July to November 2019, exports had increased by 4.8 percent as compared to the same period last year.

Robust export growth is vital for industrial expansion & job creation.
In 5 months (July-Nov 2019) exports increased by 4.8% vs same period last year.
Value added exports like readymade garments, knitwear & other major exports are showing strong pick up in both quantity & value. pic.twitter.com/9L7yGGBmJ6

— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) December 20, 2019

He wrote, “Robust export growth is vital for industrial expansion and job creation.”

The minister added, “Value-added exports like readymade garments, knitwear, and other major exports are showing strong pick up in both quantity and value.”

Earlier on Friday. Hafeez Shaikh announced that the current deficit declined by 72.6 percent in November and 73 percent between July to November this year. 

Read more: Exports in October increased by 9.6%: Hafeez Shaikh

Sharing latest figures on the external deficit and foreign reserves on Twitter, he said that in five months, an increase in State Bank of Pakistan’s reserves by $1.8B and reduction of $3B in FX swaps/forward liabilities increased FX buffer by $4.8B, providing further stability to an external account.