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Wednesday, April 21, 2021

‘For the primary time’ Pakistan’s exports to UK cross $1billion in first half of economic 12 months

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Adviser to the Prime Minister for Commerce and Funding Razak Dawood on Saturday stated that Pakistan’s exports to the UK had crossed $1 billion within the “first six months of any financial year”.

Taking to Twitter, the prime minister’s adviser stated that the exports to the UK for July-December 2020 had gone up by 21% as in comparison with final 12 months.

Dawood stated that the exports to the UK had elevated from $852 million throughout July-Dec 2019 to $1.29 billion throughout July-Dec 2020.

Learn extra: ‘In comparison with Pakistan, exports of India and Bangladesh noticed detrimental progress for Nov/Dec’

Furthermore, in Dec 2020, these exports grew by 47% to $189 million as in comparison with $129 million in Dec 2019, Dawood stated, as he inspired exporters to seize a larger share of the market.

“I also commend the efforts of [Ministry of Commerce’s] trade officers posted in the UK and urge them to work harder in finding opportunities for our exporters and provide facilitation to our businessmen,” he added.

Exports to US rise by 27%

A day earlier, the adviser stated that Pakistan’s exports to the US had risen by 27% in December 2020, as in comparison with final 12 months.

He stated that the exports to the US had gone up from $334 million in December 2019 to $425 million in December 2020.

“This is the first time that our exports to [the] US have crossed US dollar 400 million-mark for three consecutive months,” Dawood disclosed.

Sharing extra particulars, Dawood stated that from July to December 2020, the exports to the US grew by 18.4% — USD 2,412 million — as in comparison with USD 2,037 million in the identical interval final 12 months.

Learn extra: Razak Dawood says Pakistan now on its option to industrialisation

“It is a great achievement by our exporters [and] I encourage them to strive to obtain a greater share of the market,” Dawood added.

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