Pakistan’s Exports Grow by $1.69bn in 8 Months, Fueled by Food Sector

Islamabad: Pakistan’s export sector has seen a notable surge, surpassing $1.69 billion in the first eight months of the fiscal year. Data from the Pakistan Bureau of Statistics reveals that from July to February, exports totaled $20.36 billion, marking a significant achievement for the country’s trade economy.

The standout performer in this export growth is the food sector, which experienced a remarkable 54% increase, reaching $4.96 billion. This surge is credited to heightened demand for Pakistani basmati rice, meat, fruits, vegetables, tobacco, and spices, both domestically and internationally.

In February 2024 alone, food exports soared by 35%, totaling $700 million, showcasing the sector’s robust performance. Additionally, other key export commodities like raw cotton, wheat, canvas shoes, fans, and transport goods also witnessed increased demand, contributing to the overall export expansion.

Furthermore, rises were observed in the exports of jewellery, sugar, cement, tyres, tubes, and jaggery products. Engineering goods and electrical goods sectors also recorded export growth during the July to February period.

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However, there was a slight decline of 0.65% in the textile sector, with textile exports totaling $11 billion. Despite this decrease, the textile industry remains a significant contributor to Pakistan’s exports.

Comparatively, in the same period of the previous fiscal year, textile exports stood at $11.21 billion, indicating a marginal decline in the current fiscal year.