The textile exports in Pakistan witnessed an increase of about 10.58% in the first month of the current fiscal year, 2017-18. Pakistan exported good of worth Pakistan exported goods worth $1.631 billion in the month of July 2017. The exports in the same time period of last year were $1.475 billion. It shows an increase of about 10.58%. These numbers are given by the official ministry of commerce on 15th of August.
The merchandise imports during the month of July increased by 36.74% compared to July 2016. The imports to the country during July 2017 were recorded at $4.835 billion compared to the imports of $3.536 billion, the data revealed.
According to the officials, the trade deficit during July 2017 was recorded at $3.204 billion, which shows growth of 55.46 percent when compared to the deficit of $2.061 billion during July 2016. Meanwhile, on a month-on-month basis, the exports from the country witnessed the negative growth of 14.70% in July 2017 when compared to the exports of $1.912 billion in June 2017.
The imports into the country increased by 6.64% in July 2017 when compared to the imports of $4.534 billion recorded during June 2017, according to the data. Replying to question, the official said the ministry was contributing to the national economy through trade facilitation and liberalization, improving export competitiveness and reduce the cost of doing business.
The government is committed to providing direction and diversification to internal trade for enhancing supply chains to enhance the country’s exports. “We are working to explore new trade avenues and markets in different regions to get access to these markets for the promotion of country’s trade,” said the official.
