Shaheer Ahmed
Pakistan’s Export has seen a rise in 2021. Pakistan exports to the US, China, Bangladesh, Thailand, Sri Lanka, Malaysia, Kazakhstan, South Korea, the Netherlands, Spain, the United Kingdom, Germany, Afghanistan, Saudi Arabia, the Russian Federation, Indonesia, and the Czech Republic. The percentage of export was different in both the halves of 2021. China was dominating in the first half of 2021, whereas the US had beaten China in the second half.
Pakistan’s Export in 2021
Pakistan’s exports in 2021 went up from $2.366 billion to $2.761 as compared to 2020 causing an increase of almost $400 million. During the first half of 2021, exports increased by 25% from $12 billion in 2020 to $15 billion. The exports of fish and fish products, plastics, cement, fruits and vegetables, petroleum products, natural steatite, etc increased.
During the first half of the current FY (Jul-Dec 2021), exports increased by 25% to USD 15.125 billion as compared to USD 12.110 billion during Jul-Dec 2020. The Export Target for first half of this FY was USD 15 billion. 3/4
— Abdul Razak Dawood (@razak_dawood) January 2, 2022
The exports of fish and fish products, plastics, cement, fruits and vegetables, petroleum products, natural steatite, etc increased. In traditional sectors, there was an increase in the exports of men’s garments, home textiles, rice, women’s garments, jerseys, cardigans, and t-shirts. Moreover, the exports of fruits and vegetables, surgical instruments, electrical and electronic equipment, tractors, pearls, and precious stones decreased in December 2020, as compared to the same month last year.
There was an increase in exports to Bangladesh, Thailand, Sri Lanka, Malaysia, Kazakhstan, South Korea, etc. In terms of traditional markets, as compared to December 2020, Pakistan’s exports to the United States, China, the Netherlands, and Spain increased in December 2021. The exports to the United Kingdom, Germany, Afghanistan, Saudi Arabia, the Russian Federation, Indonesia, and the Czech Republic decreased.
During the same period, the exports of Fruit & Vegetables, and Surgical Instruments, 🔽 decreased
In terms of geographical 🌍 spread, the exports to the 🇺🇲US, 🇨🇳China, 🇳🇱Netherlands, 🇪🇦Spain, 🇧🇩Bangladesh, 🇹🇭Thailand, 🇱🇰Srilanka, 🇲🇾Malaysia & 🇰🇿Kazakhstan 🔼 increased. 2/3— Abdul Razak Dawood (@razak_dawood) January 4, 2022
Exports to the US
Exports to the US were worth $607 million, saw an increase of 43% over 2020. According to Abdul Razak Dawood, Advisor to PM on Commerce and Investment, the exports had increased by 25% from $12.110 billion (July-Dec 2020) to $15.125 billion.
Exports to China
According to Hussain Haider(Consul General at the Consulate General of Pakistan in Shanghai, to China Economic Net), “2021 has been an excellent year for Pakistan-China bilateral trade. Driven by China-Pakistan Free Trade Agreement Phase II, our exports to China have increased more than 76% year-on-year in the first three quarters despite the pandemic. We believe that by the end of this year, our exports to China will cross $3 billion and that will be one of our highest-ever exports to China.”
According to the agreement, the trade deficit between the two countries would be reduced to get high-quality products. Pakistan is constantly in a process of improving the quality of its agricultural products to meet Chines demand. The agricultural trade was worth $860 million and the export of mangoes was 37. 4 tons. According to PTDA, the value of Pakistan’s exports to China was $1.29 billion (July-November 2021) as compared to $0.79346 billion in 2020.
The US beats China in Pakistan’s Export Market
According to Abdul Razak Dawood, the US has taken first place, China slipping to second place in Pakistan’s exporting destination. December has seen a rise in Pakistan’s export as compared to 2020.
PAK Exports to US are showing impressive progression. 44% growth on YOY basis during last 5 months and 10% expansion on MoM are indeed stimulating providing much needed momentum to touch new frontiers this Financial Year 2021-22 pic.twitter.com/Y0n1mP6Q6Y
— Azmat Mahmud, PAS (@AzmatPAS) December 22, 2021
Note: All amounts mentioned are in US DOLLARS.
Also read:https://neemopani.com/pakistan-has-20-billion-worth-of-cryptocurrency/
