ISLAMABAD - Pakistan’s exports have crossed $2 billion in October 2020 despite the contraction in major markets and the uncertainty created by recent resurgence of the COVID-19 pandemic.
“Alhamdolillah, our exports have maintained the growth trend in October 2020. Our exports have crossed the 2 billion mark after July 2020 and are back on track to pre-COVID- 19 levels. This is despite the contraction in our major markets due to COVID-19 and the uncertainty created by recent resurgence of the COVID-19 pandemic,” said Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood on twitter. He congratulated the exporters on crossing $2 billion exports in last month.
In other tweet, the Advisor said Pakistan’s pharmaceutical exports have gotten off to a good start this year. “In value terms, our exports have grown by 22.6 per cent in the first quarter (Q1) to $68.1 million as compared to $55.6 million in the corresponding period last year. All this has been due to the hard work our Pharmaceutical exporters and renewed focus on exports”. He expressed his gratitude to Special Adviser to Prime Minister on National Health Services Dr. Faisal Sultan and his team for their valuable support to the Pharma Industrial Sector.
In last week, Razak Dawood has feared that Pakistan’s exports may affect in the months to come with the world returning to lockdowns, amid COVID-19 resurgence. “With the world returning to lockdowns, amid Covid-19 resurgence, the demand for our exports may also be affected. I appeal to the exporters to be vigilant and aggressive so that they may be able to sustain their presence in the global markets,” said Advisor to the Prime Minister on Commerce and Investment Abdul Razak Dawood on twitter in last week. “Recent figures by World Bank are showing that the pandemic has caused GDP contraction around the world, projecting that the major economies of the West, Japan, and South Korea etc. will post negative growth in GDP,” he added.
The data of Pakistan Bureau of Statistics showed that Pakistan’s exports have gone down by 0.65 per cent in the first quarter (July to September) of the current fiscal year mainly due to the Covid-19. The exports were recorded at $5.474 billion in July to September period of the year 2020-21 as compared to $5.510 billion in the same period of the previous fiscal year.