Exports hit 17-month high in January

Merchandise exports grew for the fifth consecutive month in January, reaching a 17-month high, indicating a recovery of export-led industrial growth. In absolute terms, export proceeds in January totalled $2.78 billion, up 27 per cent from $2.19bn the previous year, according to data from the Ministry of Commerce released on Thursday. Commerce Minister Gohar Ejaz noted that these positive trends reflect the caretaker government’s commitment to promoting trade and economic growth. “We will continue to implement policies that support our exporters, diversify our export base, and enhance trade facilitation,” he said. Mr Ejaz, with less than a month left in office, expressed confidence that Pakistan is on track to achieving its trade goals and becoming a global economic leader. Exports for the first seven months of FY24 increased by 12pc to $17.76bn from $15.83bn in the corresponding period last year.