Pakistan’s exports increased by 25 per cent to $15,127 million in the first half (July–December) of the fiscal year 2021-22 compared to $12,110 million in the corresponding period of 2020-21, according to the Pakistan Bureau of Statistics.
Exports stood at $2,765 million in December 2021 compared to $2,901 million in November 2021, down 4.69 per cent, but up 16.86 per cent as against $2,366 million in December 2020.
The main export commodities in December 2021 were knitwear ($442.58 million), ready-made garments ($348.63 million), bed wear ($254.92 million), rice others ($192 million), cotton cloth ($190 million), cotton yarn ($107 million), towels ($95.7 million), fruits ($70.2 million), made-up articles ($69.6 million) and fish & fish preparations ($51.3 million).
Compared to December 2020, exports of fish and fish preparations surged by 97.25 per cent, knitwear 42.37 per cent, ready-made garments 34.75 per cent, bed wear 9.57 per cent, rice 5.34 per cent, cotton cloth 29.31 per cent, cotton yarn 22.59 per cent, towels 26.95 per cent and made-up articles 6.34 per cent.
Abdul Razak Dawood, Prime Minister’s Adviser on Commerce and Investment, who convened a consultative meeting to review trade trends recently, said that exports of fish and fish products, plastics, cement, fruits and vegetables, petroleum products, natural steatite, and other materials had increased.
In terms of market diversification, there was an increase in exports to Bangladesh, Thailand, Sri Lanka, Malaysia, Kazakhstan, South Korea, etc.
He added that Pakistan’s exports to the United States, China, the Netherlands, and Spain increased in December 2021, while shipments to the United Kingdom, Germany, Afghanistan, Saudi Arabia, the Russian Federation, Indonesia, and the Czech Republic decreased.
On the other hand, exports of fruits and vegetables, surgical instruments, electrical and electronic equipment, tractors, pearls, and precious stones declined in December 2021 compared to the corresponding month of the previous year.
On the other hand, imports totaled $40,649 million during July–December 2021 against $24,454 million during the corresponding period of 2020, up 66.23 per cent.
On a monthly basis, imports in December 2021 were $7,666 million compared to $7,899 million in November 2021, down 2.95 per cent, but up 53.75 per cent compared to $4,986 million in December 2021.
The main imported commodities in December 2021 were medicinal products ($981.3 million), petroleum products ($905.89 million), liquified natural gas ($485.3 million), crude petroleum ($356.3 million), palm oil ($318.5 million), iron & steel ($281 million), plastic materials ($265 million), iron & steel scrap ($253 million), mobile phone ($235.3 million) and electrical machinery & apparatus ($231 million).