Exports perform well, up 34% to China; 19% to Germany: adviser

ISLAMABAD: Despite the negative impacts of Covid-19, the exports have performed well in the country’s major markets, a government official said on Tuesday.

Adviser to Prime Minister on Commerce, Abdul Razak Dawood tweeted: “I’m pleased to share that our exports have done quite well in our major markets,” adding that the country’s exports to China increased 34 per cent to $2.33 billion during the fiscal year 2020/21, compared with the exports of $1.74 billion during FY2019/20. This also showed an increase of $586 million during FY21.

Likewise, the adviser said the exports from Pakistan to Germany grew 19 per cent to $1.5 billion over the previous year’s $1.3 billion, while the exports to The Netherlands increased 23 per cent to $1.2 billion, compared with the previous year’s $1 billion.

The country’s exports to Poland increased 28 per cent to $308 million in FY2020/21, compared with $241 million in FY2019/20, he added.

The exporters accomplished achievement despite the problems created by the Covid-19 pandemic and they deserve credit for it, he said, and also lauded the efforts of the Ministry of Commerce and trade and investment officers in various countries for their contribution in promoting the country’s exports.

Earlier, the adviser said Pakistani exports to the US were recorded at $5.2 billion, compared with the exports worth $3.7 billion last year, showing an increase of $1.45 billion. “This is the first time in our history that our exports to the US have crossed the $5 billion mark,” he added.

Also Read

Private sector borrowing posts sharp rise of 218% in FY21

KARACHI: The private sector borrowing registered a sharp increase of 218 per...