Pakistan's Exports Reach Rs3 Trillion in First 4 Months of FY2024-25

Pakistan’s Exports Reach Rs3 Trillion in First 4 Months of FY2024-25

Web Desk

25th Nov, 2024. 07:22 pm
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Pakistan exports hit Rs3 trillion in 4 months of FY2024-25.
Pakistan’s exports increased by 9.57% in the first four months of the current fiscal year.
Exports in October 2024 grew by 9.91%, reaching Rs789.2 billion, compared to Rs753.8 billion in October 2023.

The Pakistan Bureau of Statistics (PBS) has reported a 9.57% increase in the country’s exports during the first four months of the current fiscal year compared to the same period last year. From July to October 2024, exports totaled Rs3,029.3 billion, up from Rs2,764.7 billion in the corresponding period of FY2023-24, based on provisional figures released by PBS.

Export Growth Overview

On a year-on-year basis, exports in October 2024 grew by 9.91%, reaching Rs789.2 billion compared to Rs753.8 billion in October 2023. Month-on-month, exports increased by 4.97% in October 2024 from Rs752.2 billion in September 2024.

The key export commodities in October 2024 included:

Knitwear: Rs136.4 billion

Readymade garments: Rs100.5 billion
Other rice varieties: Rs81.5 billion
Bed wear: Rs76.3 billion
Cotton cloth: Rs43.3 billion
Towels: Rs26.4 billion
Oil seeds, nuts, and kernels: Rs26.3 billion

Made-up articles (excluding towels and bed wear): Rs20.2 billion
Basmati rice: Rs19.1 billion
Cotton yarn: Rs16.4 billion

Import Figures

Imports for July–October 2024 amounted to Rs4,999.9 billion, reflecting a modest increase of 2.23% compared to Rs4,891.1 billion during the same period last year.

In October 2024, imports were valued at Rs1,274.8 billion, marking a 1.59% decline compared to Rs1,295.5 billion in September 2024 and a 6.49% decrease from Rs1,363.3 billion in October 2023.

Major Import Commodities in October 2024

Petroleum products: Rs110.6 billion
Petroleum crude: Rs85.1 billion
Liquefied natural gas: Rs77.5 billion

Palm oil: Rs76.7 billion
Plastic materials: Rs62.6 billion
Iron and steel: Rs57.9 billion
Electrical machinery and apparatus: Rs50.4 billion
Mobile phones: Rs48.4 billion
Fertilizer (manufactured): Rs32.6 billion

Iron and steel scrap: Rs28.2 billion

The export and import figures highlight Pakistan’s evolving trade dynamics, with consistent growth in exports despite a slower increase in imports. These statistics underline the importance of continued focus on boosting trade competitiveness and exploring global market opportunities.