Pakistan’s Exports Surge in FY 2023-24, Agro-Exports See Historic Increase

Islamabad: Pakistan has experienced a significant boost in exports during the financial year 2023-24, attributed to the proactive measures taken by the Special Investment Facilitation Council (SIFC) and the opening of new markets.

According to Ministry of Information and Broadcasting, data from the Pakistan Bureau of Statistics shows that Pakistan’s merchandise exports increased by 10.54 percent, reaching $30.64 billion. Meanwhile, imports saw a slight decrease of 0.84 percent, totaling $54.73 billion for the same period. This growth in exports has been further enhanced by the SIFC and the Ministry of Commerce’s efforts to penetrate new export markets in Jordan, Uzbekistan, Lebanon, and Egypt, specifically for meat products.

Additionally, a notable development this year has been the historic rise in agro-exports, which surged by 37 percent from $5.8 billion to $8 billion. This achievement marks a significant milestone for Pakistan’s agricultural sector, which is now on track to meet an ambitious export target of $10 billion in the current financial year.

This upward trend in exports underscores the growing global demand for Pakistani products and highlights the effective strategies implemented by the SIFC to boost the country’s economic presence internationally.

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