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Friday, November 15, 2024

Home Business Early indications show decline in growth of imports: Razak

Early indications show decline in growth of imports: Razak

by News desk
January 3, 2022
in Business

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Advisor to Prime Minister on Commerce Abdul Razak Dawood on Sunday said that early indications are showing that the growth in imports has started to decreased.

Abdul Razak, in a series of tweets, said that imports during Dec 2021 decreased to USD 6.9 billion as compared to USD 7.9 billion in Nov 2021 showing a decline of USD 1 billion; however, the import projection for Dec 2021 was USD 6.2 billion.

Turning to exports, the advisor said that during Dec 2021, Pakistan’s exports increased by 16.7% to USD 2.761 billion as compared to USD 2.366 in Dec 2020. The Export Target for the month was USD 2.8 billion.

He further said that 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.