Export growth in FY22 to be higher than total growth in past 10 years: Asad
Business
Export growth in FY22 to be higher than total growth in past 10 years: Asad
ISLAMABAD (APP):The country’s exports during the current fiscal year 2021-22 are estimated to grow by 8.5 billion as compared to the previous year which would be even higher than the total growth of exports in 10 years of Pakistan Peoples Party (PPP) and Pakistan Muslim League (N) governments.
“With the year’s (FY22) first half trade data available, we are on course for a bigger increase in exports of goods and services in one year than in the 10 years of PPP/PML-N governments from 2008 to 2018”, Minister for Planning, Development and Special Initiatives Asad Umar said on his twitter handle on Thursday.
“Let that sink in… more export growth in one year than 10 years!!” he added.
In Fiscal Year 2008, the country’s exports were recorded at $24 billion which rose by only $6.6 billion in 10 years to $30.6 billion in 2018.
However, the country’s exports which were recorded at $31.5 billion by end of FY21 rose by $4 billion or 27% in first six months of current fiscal year, while it is expected that the exports would achieve the target of $40 billion by end of current fiscal year.
