Pakistan reports ‘highest-ever’ October exports

Pakistan’s exports in October 2021 grew by 17.5% to $2.471 billion — the highest ever export recorded in any October in the country’s history.

Pakistan’s export target for October 2021 was $2.6 billion.

For the period Jul-Oct 2021, exports grew by 25% to $9.468 million as compared to $7.576 billion during Jul-Oct 2020. The target for Jul-Oct 2021 was $9.6 billion.

I am pleased to announce that 🇵🇰 exports in Oct 2021 grew by 17.5% to $2.471 billion as compared to $2.104 billion in Oct 2020. This is the highest ever export in any October in our history. Our export target for October 2021 was $2.6 billion.

— Abdul Razak Dawood (@razak_dawood) November 1, 2021

During Jul-Oct 2021, Pakistan’s imports increased by 64% to $24.99 million compared to $15.19 billion during Jul-Oct 2020. About 40% of this increase was investment-driven (capital goods, raw material and intermediates) which indicates expansion and enhanced activity by industry.

The remaining 60% of imports comprise petroleum, coal and gas 34%, vaccines 11%, food 8%, consumer goods 2%, and all others 5%. Most of this was inelastic in nature.

In absolute terms, the net increase in imports over this period was $9.801 billion. Of this, consumer goods were worth $239 million, food $823 million, capital goods $1,620 million, raw material and intermediates $2,209 million, petroleum, coal and gas $3,364 million, vaccines $1,068 million and all others $478 million.

Adviser on Commerce Abdul Razzaq Dawood congratulated the nation on the development as well.