ISLAMABAD:Pakistan’s exports posted a 17.5 per cent growth in October, rising to $2.471 billion as compared to $2.104 billion in Oct 2020.
This is the highest-ever export in any October in our history,” said a press release issued
by the Ministry of Commerce here on Monday.
It added that “Our export target for October 2021 was $2.6 billion”.
For the period July to October 2021, the country’s exports grew by 25 percent to USD$9.468 million as compared to USD $7.576 billion during July-October 2020.
The ministry said that our target for July-October 2021 was USD$ 9.6 billion.
During July-October 2021, our imports increased by 64 percent to $24.99 million
compared to $15.19 billion during July-October 2020.
About 40 percent of this increase is investment-driven (Capital Goods, Raw Material
and Intermediates), which indicates expansion of industry and enhanced activity by industry.
The remaining 60 percent of imports comprise Petroleum, Coal and Gas 34 percent, Vaccines 11percent, Food (8 percent ), Consumer goods (2 percent ) and all others (5percent). Most of this is inelastic in nature.
In absolute terms, the net increase in imports over this period is USD$ 9.801 billion.
The consumer goods are USD$ 239 million, food USD$823 million, capital goods USD $1,620 million, raw material and intermediates USD$ 2,209 million, petroleum, coal and gas USD$3,364 million, vaccines USD$1,068 million and all others USD$478 million.