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Exports drop 4.5pc in February

Exports drop 4.5pc in February

ISLAMABBAD: Pakistan’s exports fell by over four per cent in February as compared to the corresponding period from a year ago after recording growth in the past four months, data released by the Ministry of Commerce.

According to a local media report that analysed the data, export proceeds fell to $2.044 billion in February, down by 4.5pc from $2.14bn in the corresponding month last year.

Commerce Adviser, Abdul Razak Dawood, took to Twitter to say that Pakistan’s exports remained above the $2bn mark for the past five consecutive months. How­ever, he did not give any reasons for the month-on-month decline in the exports.

The adviser also did not share import figures and only release figures on export proceeds, which has steadily been on the rise for the past few months leading to a higher trade deficit.

Between July and February of the current fiscal year, Pakistan’s exports increased by 4.2pc to $16.30bn as compared to $15.643bn over the corresponding months of last year.

“We wish to congratulate our exporters for their hard work in earning the foreign exchange for the country and urge them to market their exports even more aggressively,” he said.