As per the data released by the Ministry of Commerce, Pakistan’s exports to the gulf countries increased by 36 per cent during the current fiscal year.
The ministry believed that the growth in export earnings was achieved due to several initiatives but did not provide any information on the actions.
Three major commodities posted noteworthy growth between July-April 2019.
The rice exports to the region increased by 59% in value from $264 million to $420m, meat from $127m to $200m, an increase of 57% during the period under review. Furthermore, fruits and vegetables exports enhanced from $70m to $140m, a rise of 100%.
The data collected by Pakistan’s State Bank revealed a 28% increase in exports to the UAE during the July-March period. This year the export value exceeded $1.244bn as against $971.173 m during last year’s corresponding months.
Pakistan’s exports to Saudi Arabia raised this year by 42.9% to $352.164 m as against $246.419 m over the same months of last year during the July-March period. Pakistan exports rice, fruit, vegetable preparations, apparel, and textile-made articles to Saudi Arabia.
Over the July-March timeframe this year, exports to Qatar increased 50% to $108,898 m, compared to $72.49 m over the same months last year. Similarly, exports to Bahrain have also seen a rise of 8.33% to $52.856 m as against $48.789 m over the same months of last year.
In addition, Pakistan has closed its border stations with Afghanistan since Mar 15. Only $61m worth of goods were exported to the neighboring country during March. The government has banned all kinds of exports to Afghanistan except kinno.