Commerce Minister Makhdoom Amin Fahim has said that Pakistan has achieved a surplus target of $25 billion exports this year despite problems like the energy crises, poor security situation and low foreign investment. The minister stated that exports worth $25.290 billion had been achieved and congratulated everyone. He said that the original target of exports was $20.011 billion however the target achieved 31 per cent higher.
This increase in exports was achieved by redirecting the exports from traditional trade routes to new routes. Fahim emphasized the country’s potential to increase its exports and assured his support in looking for new avenues. Minister also said that the volume of regional trade increased tremendously and has great potential to be enhanced further.
He stressed upon the early implementation of Economic Cooperation Organization Trade Agreement (ECOTA) in order to help Pakistan in finding regional market and increase exports. He congratulated the exporters, business community along with ministry workers and Trade Development Authority of Pakistan (TDAP) staff over the historical export target of $25.290 billion.
However, analysts warn that such figures should be taken with a pinch of salt as they do not reflect growth in the economy. For example the textile sector has contributed immensely in this year’s exports but that is largely due to increasing prices of textile commodities in the international market. The sector itself has grown by just 0.6 per cent last year.
