Pakistan’s Exports Set to Decline by USD 3 Billion due to COVID-19

According to Abdul Razak Dawood, Adviser to the Minister of Commerce of Pakistan, Pakistan's exports are projected to decline by approximately USD 3 billion during the current fiscal year due to falling global demand and subsequent lockdowns amidst the COVID-19 pandemic.

Data from the Pakistan Bureau of Statistics indicate that the nation's exports declined by 54% in April 2020 compared to April 2019 and stood at USD 957 million, while Pakistan's total exports declined by 3% to USD 18.4 billion during the period July 2019 until April 2020. While this declining trend indicates that Pakistan will not be able to reach its export target of USD 25 billion for the current fiscal year, government officials have indicated that t...