Pakistan Post 17.5% Export Increase in October 2021
According to news sources, the Ministry of Commerce in Islamabad recorded a 17.5% increase in exports for the month of October 2021 compared to the same month the previous year. In October 2021, Pakistan’s exports totaled USD 2,471 billion, up from USD 2,104 billion in October 2020. This is the biggest October export total in Pakistan’s history.
The government had set an export target of USD 2.6 billion for the month of October, but the current results are also encouraging, according to the Prime Minister’s (PM) advisor on commerce, Abdul Razak Dawood, who posted the data on Twitter.
In addition, he reported that the export industry generated $9.467 billion from July to October 2021, a 25 percent increase over the same period in 2020. Between July and October 2021, imports increased by 60%, from USD 15.19 billion to USD 24.19 billion.
In October, Pakistan had its highest-ever monthly exports of $2.47 billion.
According to the advisor, a major portion of these imports consist of raw materials, intermediates, and industry-related commodities, indicating an expansion of “industry and increased activity by industry.” Likewise, the remaining sixty percent of imports consisted of fuel, medications (vaccines), food, and consumer goods.
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