27pc surge in remittance

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Observer Report
Islamabad

The finance ministry on Thursday released the Monthly Economic Update & Outlook report wherein noting the upward trend in economic revival and consistent activity with increased remittances and tax revenues.

The monthly economic report published in July said there is 27 per cent surge in remittances from July last year to June with $29.4 billion pouring in the country under this head.

During financial year 2021, the report said, exports increased by 18.3 percent to $25.3 billion. Last year the total exports stood $21.4 billion.

The exports posted growth compared with last year because of slow down in industries due to Covid lockdown.

Major exported commodities which performed well according to the report include knitwear with 36.6 pc growth; readymade garments 18.8 pc; bed wear 28.9 pc; towel 31.8 pc; carpet, rugs and mats 36.9 pc, leather manufactured 18.7 pc.
On the other hand, exports in fish and fish preparations posted 1.9 pc growth.

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