Pakistan's exports surge by 22.45% to reach Rs. 1.27 trillion in two months

Islamabad: The exports from the country in rupee term witnessed an increase of 22.45 percent during the first two months of current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

Exports during July-August (2023-24) were recorded at Rs.1,276,238 million as against Rs.1,042,226 million during the corresponding period of last year, showing an increase of 22.45 percent, according to provisional data released by PBS.

On year-on-year basis, the exports during August 2023 increased by 26.75 percent and were recorded at Rs.695,136 million compared to the exports of Rs. 548,440 million in August 2022. On month-on-month basis, the exports increased by 19.62 percent when compared to the exports of Rs. 581,102 million in July 2023.

 Main commodities of exports during August, 2023 werek Knitwear (Rs. 117,892 million), readymade garments (Rs. 83,447 million), bed wear (Rs. 74,081 million), cotton cloth (Rs. 47,002 million), cotton yarn (Rs.30,793 million), towels (Rs.25,567 million), madeup articles, excluding towels & bedwear (Rs.18,377 million), rice others (Rs.18,073 million), rice basmati (Rs.16,271 million) and meat and meat preparations (Rs.11,210 million).

On the other hand, imports during July–August, (2023-24 totaled Rs. 2,371,596 million as against Rs. 2,430,313 million during the corresponding period of last year showing a decrease of 2.42%. On year-on-year basis, imports into Pakistan during August, 2023 amounted to Rs. 1,330,458 million as against Rs. 1,337,189 million in August, 2022, showing decline of 0.50 percent.

On month-on-month basis, imports into the country witnessed an increase of 27.79 percent in August 2023 when compared to the imports of Rs. 1,041,138 million in July 2023.

The main commodities of imports during August, 2023 were petroleum products (Rs. 180,628 million), petroleum crude (Rs.119,438 million), natural gas, liquefied (Rs.89,854 million), palm oil (Rs. 80,346 million), plastic materials (Rs. 66,789 million), electric machinery & apparatus (Rs.48,536 million), iron & steel (Rs.47,489 million), mobile phones (Rs.32,712 million), iron & steel scrap (Rs.28,618 million) and medicinal products (Rs.24,592 million).