Pakistan's exports rebounded
Pakistan’s “Forum Express” reported on August 5 that Daoud, Pakistan’s prime minister’s business adviser, recently stated that Pakistan’s exports in July 2020 increased by 5.8% year-on-year, which was the first year-on-year increase in Pakistan’s foreign exports since the 4 consecutive months of decline. Among them, the food processing industry contributed the most, with exports increasing by more than 300% year-on-year, fish exports by 50%, and textiles by 24%. In terms of imports, July imports fell 4.2% year-on-year.
Affected by the epidemic, Pakistan’s exports have continued to decline since March. In March, exports fell by 8% year-on-year, in April by 54%, in May by 35%, and in June, the rate of decline narrowed to 6%. Daoud said that the export data in July is encouraging, indicating that Pakistan's foreign trade has recovered. The Ministry of Commerce will continue to increase support for exporters and strengthen guidance in the diversification of export products and export destinations.