Exports from Pakistan to the United States increased by 10.4% in the first eight months of the current financial year, driven largely by robust performance in textiles and clothing, accessing a report published on the PTV World website managed by the state.
Global exports to North America reached $ 4.2 billion during the period from July to February 25, marking an increase of 9.7% in annual shift.
The sharp increase was led by the textile sector, which represented approximately 94% of total exports to the United States, stressing the continuous importance of industry for Pakistan trade balance.
Managers have attributed growth to government trade reforms and facilitation efforts of the Special Investment Facilitation Council (SIFC), which sought to rationalize investment and export processes.
The increase in exports is considered to be a welcome development for the position of the exchange of Pakistan, which remains under pressure despite recent improvements in reserves.
Analysts claim that the increase reports a gradual recovery in the country’s export sector and reflects an increasing demand for Pakistani products on the main markets abroad.
Other commercial gains could depend on global economic conditions and continuous structural improvements in export infrastructure, they added.
In addition, funding to Pakistan should have reached a record of $ 4.1 billion in March, the Governor of the State Bank (SBP) said on Monday, Jameel Ahmad, reporting a renewed economic momentum following the budgetary crisis last year.
Speaking on the Pakistan Stock Exchange, Ahmad said that exchange reserves had to exceed $ 14 billion by June, helped by the increase in Pakistani entries abroad and the improvement of the balance of payments.
Shipments of funds reached $ 3.12 billion in February, up 40% in annual sliding and increased by 3.8% per month. Total entries for the first nine months of fiscal year 25 (July-March) amounted to $ 28.07 billion, an increase of 33% compared to the same period last year.
According to AKD Securities brokerage, walking entries came mainly from Saudi Arabia ($ 987 million), water ($ 842 million), the United Kingdom ($ 684 million) and the United States ($ 419 million).
Ahmad added that Pakistan was faced with $ 26 billion external debt obligations in FY5, but about 16 billion dollars should be overturned or refined, raising short -term pressure.
Despite an underperforming agricultural season, the Governor of the SBP said that GDP growth should fall into the 2.5 to 3% range, against a potential of 4.2% if agricultural production met expectations.
Ahmad has also noted a significant drop in inflation, calling for reading the 0.7% “historic” consumer price index (ICC) in annual shift – the lowest since December 1965.
The surprise drop in inflation exceeded the expectations of the Ministry of the Market and Finance, which had planned between 1% and 1.5%. It was largely awarded to the drop in wheat prices, perishable foods and electricity costs.
Pakistan was faced with a deep economic crisis in 2023, which caused a bailout of $ 7 billion in the international monetary fund. The IMF provides that Pakistan’s GDP growth is gradually reaching 4.5% by 2029.
