Prime Minister Imran Khan has congratulated the exporters and the Ministry of Commerce on the increase in exports in November and December 2020.
In a tweet on a social networking site, the Prime Minister said, “I have received the regional export trends and this shows that, compared to our exports, the exports of India and Bangladesh for Nov/Dec 2020 showed negative growth.”
“I wish once again to congratulate the exporters and the Ministry of Commerce for this achievement,” he said.
The Prime Minister also shared comparative data on exports of Pakistan, India and Bangladesh in November and December 2020 in a tweet.
In November 2020, Pakistan’s exports increased by 8.32 per cent and in December by 18.30 per cent, India’s exports increased by 9.07 per cent in November and 0.80 per cent in December, while Bangladesh’s exports declined by 0.76 per cent in November and 6.11 per cent in December.
It may be recalled that in December, Pakistan’s exports increased for the fourth consecutive month and it increased by 18.3% to $2.357 billion.
In the same month last year, Pakistan exported $1.993 billion.
Exports in December rose 8.4 per cent to $2.174 billion in November 2020, according to Commerce Ministry data.
The main reason for the increase in aggregate exports is the double-digit increase in exports of textile and textile sectors and engineering products, surgical instruments and textile products.
It may be recalled that at the beginning of this financial year, exports showed a positive trend. However, in August, it declined sharply by 19%, but in September, October and November, exports increased again.
To boost exports of textile and non-textile products, the government is providing cash subsidies in addition to a significant reduction in taxes on import duties on raw materials.