Tue, 21-Oct-2025

Exports surge by 10.52% to $16.561 billion in first half of fiscal year

Exports surge by 10.52% to $16.561 billion in first half of fiscal year

Pakistan Bureau of Statistics (PBS) reported that the exports from the country increased by 10.52 percent during the first half of the current fiscal year as compared to the corresponding months of last year. Exports during July-December (2024-25) were recorded at $16.561 billion against $14.985 billion during July-December (2023-24), according to PBS data. Notably, imports … Read more

Pakistan’s IT Exports Surge to $1.2 Billion in Four Months

Pakistan IT Exports

IT exports reached $1.2 billion in the first four months of the fiscal year (July-October). October IT exports increased by 13% to $330 million, a 13% increase from September. The IT sector has consistently exported services worth an average of $290 million monthly. ISLAMABAD – Pakistan’s IT exports have reached $1.2 billion during the first … Read more

Textile Exports See 10.44% Increase in First Four Months of FY 2024-25

Textile Exports

Pakistan’s Textile Exports Grow by 10.44% in Q1 2024-25. Textile exports reached US $6,146.1 million from July to October 2024. Key textile products included cotton cloth, knitwear, bedwear, and towels. ISLAMABAD: Pakistan’s textile exports have grown by 10.44 percent during the first four months of the current financial year (2024-25), as compared to the same … Read more

Pakistan’s IT Exports Hit $584 Million in July-August 2024

Pakistan IT Exports

Pakistan’s IT exports to different countries increased by 30.231% compared to the same period in 2023-24. Computer services saw a 35% increase, rising from $361.500 million to $488.040 million. Information services exports saw a 1052.91% increase, with information-related services exports rising by 7.96%. ISLAMABAD: Pakistan earned $584.566 million from exporting various Information Technology (IT) services … Read more

Pakistan’s economic growth linked with fast sustainable upsurge in exports: PM

Pakistan

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif said the country’s economic growth was directly linked with the fast sustainable growth of exports.

He was talking to a delegation of exporters, which called on him here at the PM House.

The prime minister said the exporters being the back bone of national economy, were extremely important for the government as they were playing a key role in the country’s development.

The country’s economy would attain sustainable growth when the export sector showed fast growth, he added.

PM Shehbaz said the government was providing all possible facilities to promote the non-traditional exports.

He expressed the government’s resolve to take all the decisions in the larger interest of the people and the country.

The government, he said, was taking measures to boost the export to GDP ratio. The payment of sales tax refund to the traders and industrialists was also being ensured timely, he added.

The prime minister warned the relevant authorities that no laxity would be tolerated in that regard.

He directed the federal ministers to make consultation with the delegation to ensure resolution of all their issues.

The exporters expressed gratitude to the prime minister and the government for announcing a historic cut in the electricity prices for the industrial sector, terming it a breath of fresh air.

They also expressed their full confidence in the government’s economic policies and assured their all-out cooperation.

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Exports increases by 22.2pc to $2.812bn in Dec 2023: Gohar Ejaz

Exports increases by 22.2pc to $2.812bn in Dec 2023: Gohar Ejaz

ISLAMABAD: Caretaker Federal Minister of Commerce Dr Gohar Ejaz on Tuesday said that exports in December 2023 increased by 22.2% to USD 2.812 billion from USD 2.301 billion in December 2022. He said that the increase is 9.3% with USD 2.573 billion exports in November 2023, said a press release issued here. Ejaz also said … Read more

Withdrawal of power sector subsidy will dwindle exports: Irfan Iqbal Sheikh

Withdrawal of
  • He said Pakistani exports have declined by a hefty 18.67% in Feb.
  • President FPCCI government is not willing to accept the ground realities.
  • He said textile industry is suffering on multiple problems in the country.

KARACHI: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Irfan Iqbal Sheikh has forewarned that the abrupt withdrawal of power sector subsidy to appease IMF is set to decrease exports even further; which have already in decline for the last 6 months consecutively, i.e. August 2022 – February 2023 as per the numbers released by Pakistan Bureau of Statistics (PBS).

Irfan Iqbal Sheikh added that, as per the latest statistics, Pakistani exports have declined by a hefty 18.67 percent in February 2023 on a YoY matrix from $2.83 billion in February 2022 to $2.31 billion in February 2023; whereas, the government is not willing to accept the ground realities and trying to make us believe that the decline is merely in the vicinity of 10 percent.

Irfan Iqbal Sheikh mentioned that the aforementioned power subsidy had to end by June 2023 with a tangible possibility of renewal or renegotiation. However, the government has withdrawn it in the most harmful manner to the export-oriented industries.

FPCCI Chief apprised that textiles & its allied products have the lion’s share in the country’s exports and they have achieved the number of $19.3 billion exports in FY22 through their sheer hard work, entrepreneurship, competitiveness and resilience in the face of COVID-induced challenges as well.

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Trade deficit narrows 32% during July-January

Trade deficit narrows 32% during July-January

KARACHI: Pakistan’s trade deficit has narrowed 32 per cent during the first seven months (July-January) of the fiscal year 2022/23, official statistics revealed on Thursday. According to the data released by the Pakistan Bureau of Statistics (PBS), the trade deficit narrowed to $19.63 billion during the first seven months of the current fiscal year, compared … Read more

Brazil achieves record trade surplus of $62.3 bln in 2022

brazil trade surplus

The Brazil trade ministry reported a trade surplus of $4.8 billion in December. This exceeded the $3 billion surplus predicted by economists. Total exports for the year hit a record $335 billion. Brazil achieved a record-breaking $62.3 billion trade surplus in 2022, according to data released by the government on Monday. The Development, Industry, Trade, … Read more

South Korea Oct exports fall to lowest in 26 months low, worsening deficit

south korea exports

South Korea exports fell 5.7% from a year earlier to $52.48 billion in October. Imports increased by 9.9% to $59.18 billion, creating a trade imbalance of $6.70 billion. The deficit will exert additional pressure on the country’s won, which is near a 13-year low. In October, South Korea exports decreased by the most in 26 … Read more

President ratifies bill on EXIM Bank of Pakistan

EXIM Bank

ISLAMABAD: President Dr Arif Alvi on Friday signed the Export-Import Bank (EXIM) of Pakistan Bill 2022 as the institution started its formal operations. The president signed three bills into law after their passage by the parliament under Article 75 of the Constitution. He signed the Publication of Laws of Pakistan (Amendment) Bill 2022 and gave … Read more

Rupee decline continues, slumps to Rs 239.94

UNISAME calls for steps to curb further rupee depreciation

KARACHI: The Pakistani rupee slumped to the historic low of Rs239.94 against the dollar on Thursday as the economic and political condition of the country worsened. The local unit shed Rs 3.92 to close at Rs239.94 to the dollar from Wednesday’s closing of Rs 236.02 in the interbank foreign exchange market. The analysts attributed the … Read more

India, the world’s largest producer of sugar, is restricting exports

India

India restricts sugar exports to 10 million tonnes during the marketing season. India is the greatest producer of sugar in the world and second-largest exporter after Brazil. Annual retail inflation in Asia’s third largest economy hit 7.8% in April, highest level in 8 years. Just days after banning wheat exports, India decided to limit the … Read more

Exports and non-exports in Punjab without gas until July 9

Punjab’s export and non-export sectors are without gas until July 9. Pakistan LNG Limited failed in three efforts to buy LNG on international spot market. Government will reassess its decision after Eid-ul-Azha. Punjab’s export and non-export sectors are without gas until July 9, The News reported. The decision to suspend gas supplies was made to … Read more

West wants more Russian oil. Inflation makes it hard

Russia oil exports bring in the same amount of money as they did before Ukraine invasion. Sanctions against nations like China and India would devastate already strained global markets. There are too many workarounds, and it distorts the market when it needs to perform well. In order to eliminate a significant source of funding for … Read more

US urges Russia to open Ukrainian ports for grain exports

The UN has been in talks with Moscow, Kyiv and Ankara how to open up the Black Sea to commercial cargo ships to transport grain to global markets. Russia has asked for the lifting of economic sanctions in exchange for authorising the exports of grains and fertiliser. UNITED NATIONS – US Agriculture Secretary Tom Vilsack … Read more

Oil prices are falling of an expected interest rate by the Federal Reserve

Oil prices

Oil prices fall ahead of the U.S. Federal Reserve meeting. The central bank is expected to raise rates by at least 75 basis points. OPEC sees demand growth slowing next year, as oil prices help drive up inflation and act as a drag on the global economy. Oil prices dropped on Wednesday on stresses over fuel … Read more

The US House of Representatives passed a shipping bill to help exports

Representatives

The legislation aims to improve oversight of ocean shipping. Supporters say it will help curb inflation and ease export backlogs. The bill passed 369-42 and will head to the White House for signature. President Joe Biden says he looks forward to signing it into law. The U.S. House of Representatives gave Monday regulation to further … Read more

Indonesia’s palm oil export tax would be reduced to $488 per tonne

oil

Indonesia will cut its maximum export and levy rate for palm oil to encourage shipments. The move comes after a three-week ban on exports was lifted last month. Red tape has kept palm mills’ storage tanks full, keeping them from using the oil. Indonesia Trade Minister Muhammad Lutfi said on Tuesday the public authority would … Read more

The price of oil has risen after Saudi Arabia raised crude prices

Saudi Arabia

Brent crude futures were up $1.80, or 1.5%, at $121.52 a barrel at 2319 GMT. OPEC+ agreed to accelerate output increases over the next two months. U.S. West Texas Intermediate (WTI) was also up 1.4% at $120.50 a barrel. Oil costs rose more than $2 in early exchange on Monday after Saudi Arabia raised costs … Read more

Tanzania lifts ban on wildlife exports

Tanzania

Tanzania is lifting a six-year-old prohibition on wildlife exports. A Qatari airliner illegally exported at least 116 animals and 16 birds. The government justified the ban because of “irregularities” in trade. Tanzania is temporarily lifting a six-year-old prohibition on wildlife exports in order to conserve Tanzania’s protected animals and birds, according to the country’s wildlife … Read more

Republicans in the House of Representatives unveiled a strategy

strategy

The strategy doesn’t set specific greenhouse gas emission targets. It calls for ramping up fossil fuel production and liquefied natural gas exports, as well as streamlining the permitting process. The agenda also endorses legislation to expand hydropower, one of the oldest sources of renewable energy. “Assuming Republicans procure back the House greater part in the … Read more

Aptma blasts gas supply shutdown to textile sector

KARACHI: The gas supply shutdown to the Punjab textile sector will worsen the balance of payment crises as the sector is a big contributor in bringing foreign exchange in the country, an official said on Friday. All Pakistan Textile Mills Association (Aptma) Chairman Rahim Nasir said that the gas or regasified liquefied natural gas (RLNG) … Read more

In 19 months footwear exports surge 17.92pc

footwear

The footwear sends out saw an increment of 17.92 percent during the initial nine months of the monetary year (2021-22) when contrasted with the commodities of comparing the time of the year before. Pakistan sent out footwear worth $116.686 million from July-March (2021-22) against the products of $98.950 million during July-March (2020-21), showing a development … Read more

Luckin Coffee is back and greater than Starbucks in China

Luckin Coffee

Luckin Coffee, the Chinese startup that became buried in a misrepresentation outrage and was started off Wall Street a long time back, is getting back in the game. The espresso chain on Tuesday posted first quarter income showing a leap of practically 90% in income and its very first benefit, notwithstanding testing Covid lockdowns. It … Read more

India, the world’s biggest maker of sugar, is confining products

India

India has chosen to confine the offer of sugar on worldwide business sectors, only days after it prohibited wheat trades. In an explanation on Wednesday, the Indian government said it will restrict sugar products to 10 million tons for the promoting season that goes through September to hold costs under tight restraints. Venders have likewise … Read more

The gas ‘poker game’ between Russia and Europe

Russian gas

The decline in Russian gas exports to the European Union has had no significant impact on supply, but it does put pressure on the region to wean itself off Moscow’s energy. Here is a look at the issue: The EU relies heavily on Russian gas, raising concerns that Moscow could use its export to blackmail … Read more

Heatwave-hit India says no plans to curb wheat exports

wheat exports

Despite the present heatwave affecting output, India has no intentions to reduce wheat exports, which are needed to help plug the gap left by the Ukraine war. The world’s number two wheat producer has major buffer stocks and has said it is ready to increase exports to countries hit by falling supplies from Ukraine and … Read more