Tech Bulletin: Technology, Startups & Business News
Business Tech

Pakistan’s exports grow by 18.7pc in January 2022

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Friday said that Pakistan’s exports increased by 18.7 percent to $2.546 billion in January 2022.

The Ministry of Commerce would like to inform that in January 2022, our exports increased by 18.7 percent to $2.546 billion as compared to $2.145 billion in January 2021, the Dawood said this on his official twitter account.

The adviser said that for the first seven months of current fiscal year (July-January 2022) the exports grew by 24 percent as compared to $14.255 billion, adding that a declining trend has been noticed in the monthly imports.

Razak Dawood said that as compared to imports in December 2021, which stood at $7.580 billion the imports in January 2022 have declined by 22 percent to $5.908 billion. These were $4.803 billion in January 2021, he said.

Exports to USA surged by 25 percent year-on-year basis in January:

The United States remained the top destination of Pakistan’s exports in January 2022 with $570 million worth of shipments against the exports of $456mn recorded in the same period last year, up by 25 percent year-on-year basis.

This was followed by China, wherein Pakistan exported products worth $230 million against the exports of $189 million in the same period last year, showing an increase of 21 percent, according to pre-PBS provisional data available with the Ministry of Commerce.

While exports to Italy, the third top export destination, surged by 93 percent year-on-year to $118 million from $61 million in the same period of last year. Next in line is Spain, the exports to Spain during January 2022 were recorded at $113 million against the exports of $78 million in the corresponding period last year, depicting a growth of 44 percent during the said period.

Among other countries, Pakistani exports to the United Arab Emirates increased by 24 percent year-on-year to stand at $104 million against $83 million during the said period.

Related posts