Pakistan Earns Dollar 80 Million from Exports of Engineering Goods. Pakistan’s export production has remained low for the past two decades. In compliance with the World Bank, the export share of Pakistan’s world exports decreased from 0.18 percent to 0.13 percent. In the same time, in contrast to shares of its rivals in world exports showed a significant contraction in Pakistan’s export share.
As reported by the Pakistan Bureau of Statistics (PBS), Pakistan Earns Dollar 80 Million from Exports of Engineering Goods during the first five months of the current fiscal year.
In July – November (2020-21) earnings from exports of engineering products increased by 17.71% compared with exports in the same months of the last fiscal year, reported by PBS data.
Meanwhile, during November 2020, exports of engineering products increased by 5.28 percent compared to November 2019 on a year-on-year basis. During November 2020, engineering exports were reported at $16,262 million, compared with $15,447 million in exports.
However, during the month under review, electric fan exports increased by 41.76 percent, transport equipment exports decreased by 59.89 percent, and other electrical machinery exports decreased by 1.23 percent.
It should be noted here that, during the first half of the current fiscal year (2020-21), the country’s merchandise exports increased by 4.98% compared to the same duration last year.
According to the most recent PBS data, exports from the country during July-December (2020-21) were reported at $12,098 billion against exports of $11,524 billion during July-December (2019-20). Imports to the country have rose by 5.72 percent during the time under review, increasing from $23.195 billion last year to $24.521 billion during the first half of the current fiscal year. During the first half, the country’s trade deficit rose by 6.44 percent compared to the same period of last year, based on the estimates. The trade deficit was estimated at $12,423 billion during the first six months of the current fiscal year, compared to a deficit of $11,671 billion last year.