Pakistan's exports increased by 30pc: PBS

ISLAMABAD: Pakistan’s exports increased by 30 per cent in February 2024 to $2.575 billion as compared to the $1.984 billion exported in the same month the previous year.

As per data from the Pakistan Bureau of Statistics (PBS), the trade balance improved in February 2023–24, narrowing by 18.2 percent as compared to the same month in the previous fiscal year.

The data also showed that the trade deficit narrowed to $1.628 billion in February 2023-24, compared to $1.990 billion in February 2022-23.

During the period from July-February 2023-24, the exports increased by 14.2 percent as it was recorded at $20.341 billion as compared to the exports of $17.815 billion in the same period of the last year.

In the meantime, compared to the $39.810 billion in imports during the same period last year, the imports dropped by 14.1 percent to $34.213 billion.

Minister of Commerce Dr. Gohar Ejaz said that exports from the country rose by about 30 percent over the course of three months, expanding by 28 percent in December, 27 percent in January, and 30 percent in February.

The Minister of Commerce said that exports of manufacturing and engineering showed 15 percent growth while exports of food and agricultural products increased by 70 percent.