The country exported goods worth $23.9 billion during the last financial year 2014-15, which were $1.3 billion or 4.9% less than the previous fiscal year, reported the Pakistan Bureau of Statistics (PBS) on Thursday.
It was a poorer performance compared to Pakistan Peoples Party’s (PPP) last year in office, which is generally considered as a bad year in terms of economic policies and governance. In the last year of the PPP government, the exports had increased to $24.5 billon.
It was also the lowest number since 2011-12 when the country had exported goods worth $23.6 billion.
The country’s exports are falling at a time when its regional peers are increasing their shares in global trade. Pakistan’s exports amount to only 0.15% of the global receipts from exports.
While the exports dropped by almost 5%, the imports in the same period grew on an average of 2.1% to $46 billion, widening the trade deficit by 10.7%.