Daily Times

Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood has said that Pakistan’s exports to the United Kingdom increased by 33 percent to $2.025 billion during the just concluded fiscal year 2020-21 as compared to $1.526 billion during the financial year 2019-20.

In a series of tweets on Friday, the advisor said that the increase in exports to the UK remained $499 million. Showing his happiness on the upward momentum in exports, the advisor said that the UK is a very important trading partner of the country and it is for the first time in history that Pakistan’s exports to the UK have crossed the $2 billion mark in any financial year.

He commended exporters as well as the Ministry of Commerce’s trade and investment officers for this remarkable accomplishment. He urged the trade and investment officers to work harder in finding opportunities for Pakistani exporters and provide facilitation to them.

Exports of goods grew by 18 percent to $25.3 billion during the fiscal year 2020-21, which are the highest ever in the history of Pakistan. According to the data shared by the Ministry of Commerce, the exports in June 2021 were also the highest in any month in the past and remained at $2.7 billion.

The exports of services for the year are projected to be $5.9 billion. The cumulative exports of goods and services during the fiscal year 2020-21 will, therefore, cross the $31 billion mark.

Commenting on the development, Abdul Razak Dawood termed it a remarkable achievement of Pakistani exporters, considering the difficulties created by Covid-19 at home and resultant contractions in major markets abroad.

Dawood said that it was not an easy task as many countries went into lockdown, and severely affected the business. “Not only our exports survived the crisis but also we have enhanced it in many sectors. I salute our exporters on achieving the milestone,” he further said.