Export on the rise as govt set to increase trade with countries.

Byline: S. KAMAL HAYDER KAZMI

According to the Pakistan Bureau of Statistics (PBS), export from Pakistan during January 2023 worth Rs.525,461 million (provisional) as compared to Rs.519,817 million in December 2022 and Rs.460,856 million during January 2022 explaining a rise of 1.09 percent over December 2022 and by 14.02 percent over January 2022. In terms of US dollars the exports in January 2023 were recorded as $2,244 million (provisional) as against $2,313 million in December 2022 explaining a decline of 2.98 percent and by 14.15 percent as against $ 2,614 million in January 2022. Keeping all these and some other scenarios, expanding trade ties is the need of time.

The experts identified that in terms of US dollars the exports during July-January 2022-23, FY2022-23 totaled $16,499 million (provisional) as compared to $17,739 million during the same period of last year explaining a decline of 6.99 percent.

On the other hand, PBS data also showed that the imports into Pakistan during January 2023 worth Rs. 1,141,525 million (provisional) as compared to Rs. 1,158,313 million in December 2022 and Rs. 1,064,154 million during January 2022 explaining a decline of 1.45 percent over December 2022 but an increase of 7.27 percent over January 2022. In terms of US dollars the imports in January 2023 were registered to $ 4,875 million (provisional) as against $5,154 million in December 2022 explaining a decline of 5.41 percent and by 19.23 percent as against $6,036 million in January 2022.

Moreover, in terms of US dollars the imports during July-January, 2022-23 FY2022-23 totaled $36,093 million (provisional) as compared to $46,598 million during the same period of last year explaining a decline of 22.54 percent. The Government of Pakistan presently has been trying to boost trade with other countries such as:

United Kingdom

The Government of Pakistan states economic stabilization and economic growth are the key priorities of the government. Currently, the British Trade envoy urged that the Government of Pakistan and the UK are enjoying durable, historical and cooperative relations which need to be resilient by the enhancement of bilateral trade.

Switzerland

Furthermore, Switzerland is keen to boost trade ties and improve the mutual trade volume between the two states. It is promised full cooperation to ensure easy access of Sialkot exporters to Switzerland's international trade markets. Experts recorded that bilateral trade and business relations...