Pakistan’s Export Growth Continues in 2023

Knitwear, Readymade Garments, and Bedwear Lead the Way

The total export of Pakistan in 2023 is estimated to be around $39.42 billion, a 24.94% increase from 2022. In 2022, Pakistan’s exports stood at $31.55 billion.

The export of these commodities increased in 2023 compared to 2022. For example, the export of knitwear increased by 28.3%, the export of readymade garments increased by 26.7%, and the export of bedwear increased by 23.2%.

The growth in Pakistan’s exports is being driven by several factors, including:

• The strong demand for Pakistani goods in the global market
• The depreciation of the Pakistani rupee, which makes Pakistani goods more competitive
• The government’s focus on improving the ease of doing business in Pakistan

The growth in Pakistan’s exports is a positive development for the country’s economy. It will help to create jobs, boost economic growth, and reduce poverty.

The government aims to achieve an export target of $50 billion by 2025. To achieve this target, the government is taking several measures, including:

• Promoting the export of value-added products
• Diversifying the export basket
• Increasing access to export finance
• Improving the infrastructure for trade

The government’s focus on exports is a welcome development. Pakistan needs to achieve sustainable economic growth.