Pakistan’s Exports Increase by 17.5% in October 2021

Pakistan’s exports in October 2021 grew by 17.5 percent to $2.471 billion compared to $2.104 billion in Oct 2020. This is the highest ever export in any October in our history. The export target for October 2021 was $2.6 billion. For July-Oct 2021, Pakistan’s exports grew by 25 percent to $9.468 billion compared to $7.576 billion during July-Oct 2020. The target for July-Oct 2021 was $9.6 billion. During July-Oct 2021, Pakistan’s imports increased by 64 percent to $24.99 million compared to $15.19 billion during July-Oct 2020. About 40 percent of this increase is investment-driven (Capital Goods, Raw Material & Intermediates) which indicates an expansion of industry and enhanced activity by industry. The remaining 60 percent of imports comprise Petroleum, Coal, and Gas (34%), Vaccines (11%), Food (8%), Consumer goods (2%), and all others (5%). Most of this is inelastic in nature. In absolute terms, the net increase in imports over this period is $9.801 billion. Of this, the Consumer Goods are $239 million, Food stood at $823 million, Capital Goods at $1,620 million, Raw Material & Intermediates at $2,209 million, Petroleum, Coal & Gas at $3,364 million, Vaccines at $1,068 million and all others at $478 million.