Islamabad, 19 March 2022 (TDI): The Trade Development Authority of Pakistan (TDAP) reports that exports saw a sizeable increase in the fiscal year 2021-2022. These exports were mainly driven by readymade garments and knitwear.

In terms of the rupee, the country saw an increase of 32.77% during the first eight months of the fiscal year as compared to the previous year.

The total value of exports from July 2021 to February 2022 was recorded at Rs. 3,520.242 million which is a sizeable step up from the previous year when the values of exports during the same time period were Rs. 329,033 million.

The main exports included readymade garments worth Rs. 62,500 million, Knitwear worth Rs 73,131 million. Additionally, the country also saw revenue from bed wear (worth Rs. 46,208 million), cotton cloth (Rs. 41,208 million) cotton yarn (Rs. 22,505 million) Towels (Rs. 17,782 million), and Basmati rice (Rs. 12,309 million).

In the same time period, Pakistan also saw an increase in the number of imports. In February 2022, imports amounted to about Rs. 1,042,396 million. Overall, there was a decrease of 2% in imports from the previous fiscal year where the figure stood at Rs. 1,064,154 million.

The main commodities imported include petroleum products worth Rs. 91.858 million and crude petroleum worth Rs. 63,486 million. Other imports include liquefied natural gas (LNG) worth Rs. 54,523 million, palm oil worth Rs. 54,358 million, plastics at Rs. 44,855 million, medicinal products worth Rs. 44,091 million and mobile phones worth Rs. 24,921 million.

Trade Development Authority of Pakistan (TDAP)

The Trade Development Authority of Pakistan was established in 2006 under a presidential ordinance. It has a Ministry of Commerce as an administrative ministry. It was mandated to have a holistic view of global trade development.

TDAP takes up various trade development projects in addition to implementing trade policy initiatives as well as sending several trade delegations to other countries throughout the year.