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The exports from the country in rupee terms witnessed an increase of 25.2 per cent during the first four months of the current fiscal year as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS provisional figures, the exports from the country during July-October (2021-22) were recorded at Rs1,570,444 million as against the exports of Rs1,254,337 million during July-October 2020-21.

Meanwhile, on year-on-year basis, the exports from the country increased by 23.77% in October compared to the exports of October, 2020. The exports during October, 2021 amounted to Rs.423,371 million against the exports of Rs. 342,063 million during October, 2020.
 

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The export of sports goods witnessed an increase of 20.73 percent during the first four months of current financial year (2021-22) as compared to the exports of corresponding period of last year.

Pakistan exported sport goods worth $105.120 million during July-October (2021-22) against the exports of $87.070 million during July-October (2020-21), showing growth of 20.73 percent, according to the Pakistan Bureau of Statistics (PBS). Among the sports products, the exports of footballs increased by 17.22 percent as these surges from $42.780 million last year to $50.148 million during the current year. The gloves’ exports rose by 6 percent by going up from $23.163 million last year to $24.552 million during the current year, the PBS data revealed. Likewise, the exports of all other sports goods increased by 43.99 percent from $21.127 million last year to $30.420 million during the current year.

Meanwhile, on year-on-year basis, the sports goods’ export witnessed an increase of 33.55 percent in October 2021 as compared with the export of the same month of last year. The sport goods exports in October 2021 were recorded at $27.228 million against exports of $20.388 million in October 2020.
 

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Minister of Finance Shaukat Tarin has announced on Thursday that the government has decided to stop the import of CBU (Completely Built Units) vehicles, in addition to other ‘frivolous’ imports as the current account deficit reaches an alarming $1.6 billion a month.

The minister further stated that the government may consider imposing higher duties on vehicles with bigger displacement engines.

It is pertinent to note that Pakistan has already witnessed record foreign exchange spending on highest-ever arrival of new automobiles in 2020-21 with 10,513 units of new passenger cars, 4×4, vans, pickups, 2-wheelers and buses in FY21 compared to 1,680 units in FY20, 3,716 units in FY19 and 7,424 units in FY18.

In overall automobile imports of around $2 billion, the import bill of completely (CKD) and semi-knocked down (SKD) kits for cars, bikes and heavy vehicles stood at record $1.6bn in FY21 as compared to $727m in FY20.
 

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Pakistan’s exports had the fastest growth rate in South Asia in the month of November 2021, said Abdul Razak Dawood, Adviser to PM for Commerce and Investment.

Making an announcement on his Twitter handle, he said that the country’s exports grew by 33.5% compared to Bangladesh’s 31.3 % and India’s 26.5% growth during the month of November 2021.

To note, Pakistan’s exports during the said month under review jumped to a historic monthly high of $2.903 billion as compared to $2.174bn during the corresponding period last year.
 

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Nishat Group becomes the Leading exporter with almost 3% share in Pakistan’s textile exports. Earner of precious foreign exchange of around US$ 353 million per annum.
 

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Pakistan’s footwear industry is in a position to increase its exports to $1 billion by 2027, said Pakistan Footwear Manufacturers Association (PFMA) Chairman Zahid Hussain. He underlined that the industry was probably the only sector that had reduced its import share drastically in the past three years.

In an interview, Hussain highlighted that the sector’s domestic production had increased by 50% in the past three years mainly owing to import substitution.

He pointed out that footwear imports had gone down to just 1.6 million pairs from 26 million pairs four years ago. “The target of exports worth $1 billion is not something out of the hand and is very much doable, keeping in view the growth of the footwear sector in recent years,” he maintained. “We are hopeful that we will achieve this target by 2027, by adding more export markets like China,” he emphasised.
 

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Textile exports have increased by $7.758 billion in just five months


According to the latest data from the Pakistan Bureau of Statistics (PBS), textile exports increased by 28.41% in the first five months of the current fiscal year (2021/22) compared to the same time the previous year and increased by more than 35% on a year-over-year basis.

Textile exports totaled $7758.020 million in July-November (2021/22), up from $6.041 billion in July-November (2020/21). This represents a 28.41% increase. Cotton yarn exports climbed by 65.45% year over year, from $304.533 million to $503.897 million.
 

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The country’s textile and clothing exports saw a record increase of $1.74 billion in Nov 2021, data released by the Pakistan Bureau of Statistics (PBS) showed.

Textile exports rose by 8 per cent when compared to October 2021. The value-added textile and readymade garment sector saw an increase of 11pc while bed wear and towel exports grew by 9pc and 28pc, respectively.

November’s textile exports rose by 35 per cent as compared to the same month a year ago. The exports of knitwear were up by 40pc, bed wear 32pc, and readymade 27pc.

Textile and clothing exports grew by 28pc to $7.8 billion in the first five months (July-Nov) of the current fiscal year, the data showed. Whereas, the value-added and basic textile were up by 28pc and 35pc.
 

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Pakistan IT Exports Reaches Highest Ever to $1.05 Billion in 5 Months


Pakistan’s IT and telecom services exports have recently reached their highest level in five months. For the period July-November FY2021-22, ICT export remittances, which includes telecommunication, computer, and information services, increased by 37.57 percent to $1.051 billion, up from $764 million in July-November FY 2020-21.

For the fiscal year 2021-22, net exports were $797 million, or 75.83 percent of total exports of $1.051 billion. For the same period last year, net exports were $554 million, or 72.51 percent of total exports of $764 million.

Export remittances were $26 million greater in October 2021 than the previous month.

Moreover, ICT export remittances were $221 million in November 2021, up from $168 million in November 2020, a growth rate of 31.55 percent.
 

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The exports of sports goods witnessed an increase of 24.48 percent during the first five months of current financial year (2021-22) as compared to the exports of corresponding period of last year. Pakistan exported sport goods worth $134.803 million during July-November (2021-22) against the exports of $108.296 million during July-November (2020-21), showing growth of 24.48 percent, according to the Pakistan Bureau of Statistics (PBS).

Among the sports products, the exports of footballs increased by 19.34 percent as these surge from $53.354 million last year to $63.671 million during the current year. The gloves’ exports rose by 12.90 percent by going up from $28.056 million last year to $31.676 million during the current year, the PBS data revealed.
 

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US beats China to become Pakistan’s largest export market worth $607 million with 43% rise in December 2021.


Pakistan’s greatest export market remained the United States, with $607 million worth of commodities sold to the country in December 2021, up 43 percent year on year.
Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, tweeted on Tuesday that Pakistan’s exports increased in December 2021 compared to the same month last year.

According to him, the United States was Pakistan’s second-largest exporting destination, with the country purchasing items worth $325 million in December 2021, a 25% rise.
Exports to the Netherlands, Spain, Bangladesh, Thailand, Sri Lanka, Malaysia, and Kazakhstan all grew, according to Dawood.
 

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It's interesting that balance of trade in Pak-US trade is in the favor of Pakistan. Despite all the ups and down in the relationship between the two countries, USA is the number one exporting destination for Pakistani companies.
 

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Pakistan’s exports to China increase by 69% in 2021.

Pakistan’s exports to China surged by 68.9 percent in 2021, surpassing the previous high of 3.58 billion dollars.

The overall import and export between the two countries was 27.82 billion dollars, according to official figures from China’s General Administration of Customs.

Pakistan’s exports increased the most in November 2021, when its export volume to China reached 379.17 million dollars.
The biggest value was in December 2020, when its export volume reached 312.33 million dollars.
 

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While jumping 29 percent to $251 million in December, IT exports surged 36 percent to $1.3 billion in the first half of this fiscal year, mostly riding a massive stream of investment pouring into Pakistan’s technology sector, data showed.

Technology exports amounted to $667 million in the second quarter. Pakistan’s total IT exports stood at $1.44 billion in FY2020, which increased to $2.1 billion in FY2021.

According to Khurram Schehzad, CEO of Alpha Beta Core, this growth will gather more momentum down the line.

“Increased investment in the startup ecosystem is helping Pakistan develop technology infrastructure, which will in turn increase IT exports growth,” Schehzad said.
 

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In what appears to be another major development, the federal government allowed export of another 14 items to Afghanistan in rupees via land routes owing to the non-availability of tradable currency through banking channels.

The decision was taken at a meeting of the Economic Coordination Committee (ECC) of the cabinet, presided over by Finance Minister Shaukat Tarin, in the wake of a drastic decline in exports to Afghanistan.

The decision will also help the Taliban-led regime continue import of essential food items from Pakistan until the West recognised their government. The ECC said the decision was taken in view of the food crisis and prevailing situation in Afghanistan.

Since the Taliban takeover of Kabul, Pakistan has taken several measures, including a drastic reduction in duty on imports of vegetables and fruits from Afghanistan. In this connection, the ECC also exempted 45 per cent duty on import of chilghoza from Afghanistan.
 

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Overall exports rose significantly in the first seven months of the current financial surging to $17.67 billion, compared with $14.25 billion in the corresponding months of the last fiscal, registering a growth of 24 percent, Razzak Dawood, PM advisor on trade said on Friday.

Through his official twitter handle, the advisor said exports in the month of January, 2022 surged to $2.546 billion from $2.145 billion in the same month of the last fiscal year, posting an increase of 18.7 percent.

Dawood said a declining trend was noticed in the monthly imports as compared to imports in December 2021, which stood at $ 7.580 billion.

“The imports in January 2022 have declined by -22 percent to $5.908 billion. These were $4.803 billion in Jan 2021,” the advisor tweeted.
 
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