Pakistan witnesses increase in exports during FY 2023-24
- By Web Desk -
- Aug 04, 2024
Pakistan has witnessed a remarkable surge in the exports during the financial year 2023-24 due to concerted efforts of Special Investment Facilitation Council (SIFC).
According to the data released by the Pakistan Bureau of Statistics, Pakistan’s merchandise exports rose by 10.54 percent to 30.64 billion dollars in financial year 2023-24.
The imports fell 0.84 percent to 54.73 billion dollars in fiscal year 2023-24.
With the round-the-clock efforts of the SIFC and the Ministry of Commerce, new markets of Jordon, Uzbekistan, Lebanon and Egypt have been opened for export of meat.
For the first time in history, Pakistan’s agro-exports increased by 37 percent from 5.8 billion dollars to 8 billion dollars.
By reaching this level of development, Pakistan’s agricultural sector can achieve the export target of 10 billion dollars in the current financial year.
The significant increase in exports indicates the increasing importance of Pakistani products in the global market and the revolutionary initiatives of SIFC.