Exports to Australia surge 29pc in 10MFY21

ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood said on Sunday that the country’s exports were gradually increasing and export to Australia jumped by 29 per cent during 10 months of the current fiscal year.

In a tweet, the adviser said that the country had witnessed $52 million worth of more exports to Australia during July-April FY2021 as compared to the same period last year.

“We are glad to share that during Jul-April 2021, our exports to Australia increased by 29% to USD 229 million as compared to USD 177 million in Jul-April 2020. This is the highest 10-months export to Australia ever,” he tweeted.

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The adviser said the Large Scale Manufacturing Industries (LSMI) recovery is led by the textile, beverages, pharmaceuticals, chemicals and automobiles sectors.

The process of de-industrialisation has been reversed and it bodes well for our exports, he said.

Dawood said that industrial growth is closely related to export growth as industrial output is a source for availability of exports.

He said that it is heartening to note that the overall output of LSMI increased by 9 per cent for July-March FY21 as compared to July-March FY20.

“I encourage exporters to aggressively export to this relatively untapped market and also commend the efforts of Ministry of Commerce trade and Investment Counselor Muhammad Ashraf and urge him to facilitate our exporters and investors even more,” he said.

 

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