The export of services maintained a positive trajectory for the fourth consecutive month rising 5.63 per cent year-on-year to $656.03 million in October. The downturn in commodity exports also reversed in November and October after a continual fall in the current fiscal year, according to data compiled by the Pakistan Bureau of Statistics. In rupee terms, the export of services grew 34.26pc
Local cement despatches posted a marginal rise of two per cent to 16.688 million tonnes during the first five months of the current fiscal year, a tepid pick up in construction activities. However, cement exports surged 104pc to 3.129m tonnes in July-November from 1.529m tonnes in the same period last year. As a result, the cumulative despatches (local and exports) grew 11pc to 19.816m tonne
Auto parts exports have shown a lethargic growth in the last seven years despite holding a regular prestigious auto show in Pakistan and active participation of local vendors in global auto exhibitions. Exports stood at $16 million in FY18 and after some ups and downs, they reached $27m in FY22 but fell to $22m in FY23. During July-October FY24, exports dipped to $7.1m from $8m in the same peri
Pakistan and Saudi Arabia have reached a consensus on the investment modalities, paving the path for the ratification of a much-awaited free trade agreement with the Gulf Cooperation Council (GCC), a development that has been pending for the last 19 years. A high-powered delegation, led by Interim Commerce Minister Gohar Ejaz, held the final round of discussions with the GCC’s chief negotiator
MARKETS are reacting adversely to the attempts by the Organisation of Petroleum Exporting Countries (Opec) and its allies to shore up crude market prices. To prevent the prices from lowering further, Opec+ ministers opted to increase their ‘voluntary’ output cut last Thursday. At the ‘virtual’ meeting’, several Opec+ countries agreed to voluntarily cut oil production by 2.2 million barrels per