Pakistan's export sector has witnessed a substantial boost, with exports surging by more than $1.69 billion during the first eight months of the fiscal year.
According to data from the Pakistan Bureau of Statistics, the total volume of exports from July to February reached $20.36 billion, marking a significant milestone for the country's trade economy.
A highlight of this export growth is the food sector, which saw a remarkable increase of 54%, reaching $4.96 billion. This surge in food exports is attributed to heightened demand for Pakistani basmati rice, meat, fruits, vegetables, tobacco, and spices both domestically and internationally.
In February 2024 alone, food exports experienced a remarkable uptick of 35%, totaling $700 million, further indicating the sector's robust performance.
Additionally, other key export commodities such as raw cotton, wheat, canvas shoes, fans, and transport goods also saw an increase in demand, contributing to the overall export expansion. Notable rises were also observed in the exports of jewellery, sugar, cement, tyres, tubes, and jaggery products.
Moreover, the engineering goods and electrical goods sectors registered growth in exports during the July to February period.
However, the textile sector witnessed a slight decline of 0.65%, with textile exports totalling $11 billion. Despite this decrease, the textile industry remains a significant player in Pakistan's export landscape.
Comparatively, in the same period of the previous fiscal year, textile exports stood at $11.21 billion, indicating a marginal decline in the current fiscal year.
