ISLAMABAD: According to the Ministry of Commerce, eight sectors recorded double-digit growth in exports over the past four months. Between July and October, the exports reached $5.632 billion while last year the exports were recorded at $4.377bn. The increase in exports of value-added sectors played a pivotal role in increasing the overall exports.
The prime reason for the rise in exports is an increase in the international market’s demand and a decline in the value of the rupee.
In the garment sector, the demand for men’s products in the international market increased to 32 per cent, recording overall exports of $1.584bn. Women’s garments recorded a business of $270 million and an additional $131m with exports of synthetic fabric. On the other hand, home textile recorded a growth of $1.575bn followed by a $599m growth from exporting rice.
During the four months of the Fiscal Year 2022, the top markets for Pakistan were UK, USA and China.