Pakistan’s Exports Increased by 30%: Pakistan Bureau of Statistics

Pakistan's exports surged by 30 percent in February 2024, reaching $2.575 billion compared to $1.984 billion in the same month last year, according to data from the Pakistan Bureau of Statistics (PBS).

The trade balance also showed improvement, narrowing by 18.2 percent compared to the previous fiscal year's February figures. The trade deficit decreased to $1.628 billion in February 2023-24, down from $1.990 billion in February 2022-23.

From July to February 2023-24, exports saw a notable 14.2 percent increase, totaling $20.341 billion compared to $17.815 billion in the same period last year.

In contrast, imports dropped by 14.1 percent during the same period, falling from $39.810 billion last year to $34.213 billion.

Minister of Commerce Dr. Gohar Ejaz highlighted the impressive growth in exports, noting a 30 percent increase over the past three months. December saw a 28 percent rise, January 27 percent, and February 30 percent.

The Minister particularly pointed out a 15 percent growth in manufacturing and engineering exports, while food and agricultural product exports soared by 70 percent.