Pakistan Exports have experienced significant growth at the start of the 2024-25 fiscal year, thanks in part to the Strategic Investment Facilitation Council (SIFC) which has enhanced access to global markets for Pakistani goods.
In July 2024, exports to the United States rose to $476.017 million, a 7.26% increase from the same month the previous year. The United Arab Emirates emerged as the second-largest export destination, with a 7.74% year-on-year growth.
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The United Kingdom and China followed, with exports reaching $183.303 million and $160.100 million respectively, placing them in the third and fourth spots. Exports to Afghanistan nearly doubled, increasing from $46.262 million in July of the previous year to $88.065 million, due to successful anti-smuggling initiatives.
Other notable export destinations included Germany, the Netherlands, Italy, Spain, Saudi Arabia, and Turkey, collectively accounting for $553.951 million in exports.
The rising confidence in Pakistani products in major international markets reflects a positive trend for the national economy, facilitated by SIFC and government efforts. This growth in exports is anticipated to bolster the stability of Pakistan’s economy.
