Exports turn around

Continuous declining trend in country’s exports during the last couple of years has been a source of great concern not only for the federal government but also for the exporters. Exports not only contribute towards building country’s foreign exchange reserves along with home remittances by Pakistanis immigrants but also reduce somewhat negative impact of imports which are essentially required by industrial and other sectors.
In view of this persisting declining trend in exports, the then PM Nawaz Sharif had announced a hefty export package of Rs 180 billion in January 2017 to stem the rout and bring about turn around in exports through incentives and accelerated efforts by the exporters.
Reports that country’s exports have started showing signs of turn around are indeed very encouraging and appreciable. It is quite good to note that Pakistan’s merchandise exports have gone up by 10.04 per cent at 7.1 billion dollars during the just ended first four months of current financial year i.e. July to October 2017 against 6.416 billion dollars exports during corresponding period of last financial year. According to the data just released by Pakistan Bureau of Statistics, country’s exports increased by 13 per cent on month-on-month basis to 1.9 billion dollars against 1.8 billion whereas on year-on-year basis edged up 8 per cent. This increasing trend in exports has been seen by the experts as due to low base effect.
Quite obviously this is a positive indicator that the country’s exports have started showing upward trend. Hopefully this positive trend will continue in the months to come. This is only a beginning in the right direction. Accelerated efforts should continue to be made by the Trade Development Authority of Pakistan (TDAP) as well exporters for exploring new markets where there is possible demand for manufactured Pakistani goods to take exports beyond 25 billion dollars by end of June 2018.

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