The Commerce Ministry has initiated a detailed analysis of the declining trend in Pakistan’s exports to several regions, including East Asia and Southeast Asia, with an aim to eliminate trade barriers and reverse the downturn.
Commerce Minister Jam Kamal Khan chaired a high-level meeting with senior officials to review export data for the first quarter of the current fiscal year. The session highlighted a significant drop in exports to China, one of Pakistan’s key trading partners, as a major area of concern.
According to official trade figures, exports to East Asia fell by 20% during the July-October period, declining to $978 million from $1.217 billion in the same period last year. Specifically, exports to China dropped to $826.15 million from $1.051 billion, while exports to South Korea decreased to $51.57 million from $68.73 million. Exports to Hong Kong also declined, slipping to $10.18 million from $13.57 million.
In Southeast Asia, the downward trend continued, with Vietnam’s exports decreasing to $94.87 million from $132.13 million, and Malaysia’s exports falling to $142.18 million from $165.90 million. Exports to Indonesia also dropped to $43.82 million from $65.93 million, while Cambodia and East Timor saw smaller declines.
The report also noted a decline in exports to Turkey, which fell to $74.61 million from $117.98 million, and Russia, which dropped to $18.90 million from $24.14 million.
Despite these setbacks, exports to the European Union (EU-27) and the United Kingdom rose by 13%, reaching $3.858 billion during the first quarter, up from $3.403 billion in the same period last year. Similarly, exports to the United States, Canada, and several Latin American countries grew by 16%, rising to $2.342 billion, while exports to African markets surged by 29% under the government’s “Look Africa” policy.
Overall, Pakistan’s exports for the first four months of the fiscal year increased by 13%, amounting to $10.8 billion compared to $9.6 billion in the previous fiscal year. The textiles and apparel sector saw 11% growth, reaching $6.162 billion, while agricultural and food exports grew by 12% to $2.482 billion. Imports during the same period rose by 5%.
The Commerce Ministry’s briefing included suggestions to enhance market access, address technical trade barriers, and promote new export destinations and product categories. External challenges such as global economic fluctuations and geopolitical uncertainties were also discussed, with strategies proposed to sustain growth.
Minister Jam Kamal Khan emphasised the importance of a strong export base to drive economic progress. “A unified and strategic approach is essential to boost our global market share and ensure exports become a cornerstone of economic development,” he stated.
The meeting concluded with a call for cohesive efforts from all stakeholders, including provincial governments, to overcome trade barriers and achieve sustainable growth in exports.
