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Pakistani exports jumped 18.3% in December 2020. As a result of increased demand from the international markets. The country’s exports rose to $2.357 billion from $1.993 billion of the previous year.
There was a noticeable demand for textile, surgical equipment, engineering products and leather products, according to Abdul Razak Dawood, Advisor to the PM on Commerce. He said that this is the highest export production ever recorded over the month of December. Further stating that “For the period July-December 2020, our exports increased by 4.9% to $12.104 billion as compared to $11.533 billion in the corresponding period of last year.” As for the month of August, a negative growth of 19% was registered. Although the numbers have rebounded since.
The PM Imran Khan also commented on the development, in a tweet, acknowledging the exporters for achieving a milestone in record exports in the month of December 2020. He also noted that this achievement plays a major role in the government’s economic policy. Expressing that the government of Pakistan will further support the export sector.
The country’s exports have consistently remained close to the $2 billion a month figure, during the PTI government’s tenure regardless of the 39% current depreciation in the last two years.
Meanwhile, the rupee is being traded approximately at 160 to a dollar, retaining its lost value.