Highest monthly jump in three years takes exports to $2.79bn
Pakistan recorded its highest monthly growth in exports in three years with a jump of almost 19pc in May 2024. The month-on-month growth rate of 18.76pc in dollar terms was the highest since June 2021, when the exports went up by 63.32pc. According to the Pakistan Bureau of Statistics data released on Monday, exports increased to $2.79 billion in May, a year-on-year rise of 27.08pc against $2.19bn in the corresponding month of 2023. May was also the first month that exports grew after declining for four consecutive months this year. Exports have been sliding since the start of the year in dollar terms with a growth of -8.38pc, -0.39pc, -7.49pc and -1.06 in April, March, February and January, respectively. Total exports in the 11 months of fiscal year 2024 — July 2023 to May 2024 — were $28.07bn, up by 10.65pc from $25.36bn over the corresponding period last year.