Islamabad: The Ministry of Commerce on Monday (November 01) announced a 17.5% increase in export registered in the month of October 2021, as compared with the same period last year, news sources reported. In October 2021, the national exports totalled USD 2.471 billion, up from USD 2.104 billion in October 2020, the highest export figure in any October in the history of Pakistan.
Advisor to Prime Minister (PM) on Commerce Abdul Razak Dawood shared the said figures on the microblogging site Twitter, saying that the government had set an export target of USD 2.6 billion for the month of October, but the present results are also promising. He also stated that the export industry generated USD 9.467 billion from July to October 2021, which is 25% more than the same time last year. Similarly, imports grew by 60%, from USD 15.19 billion to USD 24.19 billion, between July and October 2021.
According to the advisor, raw materials, intermediates, and industry-related items account for a significant share of these imports, indicating an expansion of the ‘industry and enhanced activity by industry’. Similarly, the remaining 60% of imports were made up of fuel, medicines (vaccine), food, and consumer items.
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