Merchandise exports grow over 13pc

Pakistan’s merchandise exports increased for the second month in a row after a year-long downward trend, data released by the Pakistan Bureau of Statistics showed on Wednesday. In absolute terms, the export proceeds were recorded at $2.70bn in October against $2.38bn over the corresponding month of last year, indicating a growth of 13.55pc. However, on a month-on-month basis, the export proceeds increased 9.33pc to $2.70bn. The export of goods in the first four months of FY24 increased by 0.66pc to $9.61bn against $9.55bn in the corresponding period last year. The recovery in export proceeds in October indicates that the textile and clothing industries have started to receive orders from international buyers after months of slump. However, the true extent of the export recovery will be revealed in the coming months.