Pakistan’s export of weaponry and ammunition has made enormous strides, increasing 30 times over the previous year to $415.650 million in the current fiscal year 2022-23—a phenomenal year.
According to data released by the State Bank of Pakistan (SBP), export receipts for arms, ammunition, parts, and accessories increased to $415.650 million in FY2023 from $13.215 million the previous year, representing a 3,045 percent increase year on year.
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The export revenues from defense production unlocked its potential, significantly contributing to the country’s entire export. Because the negotiations between the countries are very confidential, there is no record of the export of weaponry and ammunition.
However, the government has attracted a number of buyer countries for its flagship JF-17 Thunder, which might result in substantial export revenue for the country. The Iraqi government recently shown interest in acquiring a number of JF-17s for its Air Force.
With remarkable growth in defense exports, Pakistan has every chance of meeting its lofty aim of $1 billion in defense exports per year, which it set a few years ago.
