{"id":5847,"date":"2023-12-26T16:07:12","date_gmt":"2023-12-26T16:07:12","guid":{"rendered":"https:\/\/voiceofmelange.global\/?p=5847"},"modified":"2023-12-26T16:07:13","modified_gmt":"2023-12-26T16:07:13","slug":"minister-of-commerce-highlights-remarkable-trade-performance-and-year-on-year-balance-of-payments-improvement-of-5-6-billion","status":"publish","type":"post","link":"https:\/\/voiceofmelange.global\/?p=5847","title":{"rendered":"Minister of Commerce, Highlights Remarkable Trade Performance and Year-on-Year Balance of Payments Improvement of $5.6 Billion"},"content":{"rendered":"\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" data-id=\"5848\" src=\"https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/12\/IMG-20231226-WA0080-1024x768.jpg\" alt=\"\" class=\"wp-image-5848\" srcset=\"https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/12\/IMG-20231226-WA0080-1024x768.jpg 1024w, https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/12\/IMG-20231226-WA0080-300x225.jpg 300w, https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/12\/IMG-20231226-WA0080-768x576.jpg 768w, https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/12\/IMG-20231226-WA0080-1536x1152.jpg 1536w, https:\/\/voiceofmelange.global\/wp-content\/uploads\/2023\/12\/IMG-20231226-WA0080-2048x1536.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>Islamabad, The Ministry of Commerce is pleased to announce significant achievements in Pakistan&#8217;s trade sector. Minister of Commerce Dr. Gohar Ejaz said that the positive trade figures and upwards trend showcases Pakistan&#8217;s resilience. The minister said, &#8220;We will continue to work towards enabling our exporters and to find new destinations for exports.&#8221;<\/p>\n\n\n\n<p>Year-on-Year Increase in Exports:<br>In the first 20 days of December 2023, Pakistan experienced an outstanding year-on-year increase in exports, amounting to $479 million, reflecting an impressive growth rate of 33.1%.<\/p>\n\n\n\n<p>Year-on-Year Decrease in Imports:<br>Conversely, imports during the same period saw a substantial decrease of $405 million, marking a -12.8% reduction. This positive trend contributed to an $884 million improvement in the balance of trade for December 2023.<\/p>\n\n\n\n<p>Export Milestone from July to December 2023:<br>From July 1, 2023, to December 20, 2023, Pakistan&#8217;s exports soared to $14 billion, showcasing a remarkable year-on-year increase of $709 million, translating to a substantial 5.3% improvement.<\/p>\n\n\n\n<p>Import Decline in the Same Period:<br>Import figures during the same period (1 July 2023 to 20 December 2023) dropped to $24.3 billion from $29.2 billion in FY-2022, reflecting a notable year-on-year decrease of $4.9 billion.<\/p>\n\n\n\n<p>This comes down to a year-on-year improvement in the balance of trade of $5.6 Billion.<\/p>\n\n\n\n<p>Sectoral Performance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Agricultural and Food Exports: Notably, the agricultural and food exports witnessed an extraordinary 109.2% year-on-year increase, totaling $574.6 million in the first 20 days of December 2023. This surge can be attributed to robust performances in maize, corn, ethyl, alcohol, tobacco, and rice exports.<\/li>\n\n\n\n<li>Textile and Manufacturing &amp; Engineering Sectors: The textile sector and manufacturing &amp; engineering sector demonstrated a commendable 15% year-on-year increase in exports during the first 20 days of December 2023.<\/li>\n<\/ul>\n\n\n\n<p>Top export Destinations:<br>Pakistan&#8217;s exports witnessed significant growth to key destinations, including Indonesia, United Arab Emirates, Madagascar, and China.<\/p>\n\n\n\n<p>Minister Dr. Gohar Ejaz expressed confidence in the continuation of this upward trend, emphasizing the Ministry&#8217;s commitment to fostering a conducive environment for trade and economic growth. These achievements underscore Pakistan&#8217;s resilience and competitiveness in the global market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad, The Ministry of Commerce is pleased to announce significant achievements in Pakistan&#8217;s trade sector. Minister of Commerce Dr. Gohar Ejaz said that the positive trade figures and upwards trend&hellip; <\/p>\n","protected":false},"author":4,"featured_media":5848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,4],"tags":[],"class_list":["post-5847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","category-international"],"_links":{"self":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts\/5847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5847"}],"version-history":[{"count":1,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts\/5847\/revisions"}],"predecessor-version":[{"id":5849,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/posts\/5847\/revisions\/5849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=\/wp\/v2\/media\/5848"}],"wp:attachment":[{"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/voiceofmelange.global\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}