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business
Saturday Jan 09 2021
By
Web Desk

'For the first time' Pakistan's exports to UK cross $1billion in first half of financial year

By
Web Desk
— Reuters/File

Adviser to the Prime Minister for Commerce and Investment Razak Dawood on Saturday said that Pakistan's exports to the UK had crossed $1 billion in the "first six months of any financial year".

Taking to Twitter, the prime minister's adviser said that the exports to the UK for July-December 2020 had gone up by 21% as compared to last year.

Dawood said that the exports to the UK had increased from $852 million during July-Dec 2019 to $1.29 billion during July-Dec 2020.

Read more: 'Compared to Pakistan, exports of India and Bangladesh saw negative growth for Nov/Dec'

Moreover, in Dec 2020, these exports grew by 47% to $189 million as compared to $129 million in Dec 2019, Dawood said, as he encouraged exporters to grab a greater share of the market.

"I also commend the efforts of [Ministry of Commerce's] trade officers posted in the UK and urge them to work harder in finding opportunities for our exporters and provide facilitation to our businessmen," he added.

Exports to US rise by 27%

A day earlier, the adviser said that Pakistan's exports to the US had risen by 27% in December 2020, as compared to last year.

He said that the exports to the US had gone up from $334 million in December 2019 to $425 million in December 2020.

"This is the first time that our exports to [the] US have crossed US dollar 400 million-mark for three consecutive months," Dawood disclosed.

Sharing more details, Dawood said that from July to December 2020, the exports to the US grew by 18.4% — USD 2,412 million — as compared to USD 2,037 million in the same period last year.

Read more: Razak Dawood says Pakistan now on its way to industrialisation

"It is a great achievement by our exporters [and] I encourage them to strive to obtain a greater share of the market," Dawood added.