https://arab.news/4sxb9
- Textile sector has dominated Pakistan’s export economy, but efforts are underway to promote diversification
- Pakistan has increased its exports of sesame, crude petroleum, cement, jewelry and automobiles this fiscal year
ISLAMABAD: Pakistan has recorded modest growth in its non-textile exports in the current fiscal year, helped by steps taken by the Special Investment Facilitation Council (SIFC) to boost trade, state media reported on Tuesday.
The textile sector dominates Pakistan’s export economy, accounting for around 60 percent of it, contributing 8.5 percent to gross domestic product and employing roughly 40 percent of the country’s industrial labor force.
While textiles continue to play a major economic role, the SIFC, a hybrid civil-military body designed to streamline investment and export procedures, has been actively promoting diversification through targeted support and policy incentives.
“In the first eight months of the current fiscal year, non-textile exports have grown by 2.3 percent, reaching $9.8 billion,” Radio Pakistan said, citing official statistics.
Among the notable gains, sesame seed exports to China surged by 179 percent, reaching $28 million, while crude petroleum exports doubled.
Cement exports rose by 26 percent, and jewelry exports climbed by 66 percent.
Radio Pakistan also highlighted the first-ever exports from the Gwadar Free Zone, including an approved annual consignment of 10,000 tons of potassium sulfate fertilizer.
In line with the government’s export-led growth strategy, Pakistan’s automotive sector has also made a new push into global markets, with a first shipment of 40 locally manufactured cars exported to Japan.
Radio Pakistan said the government has termed this a “golden opportunity” for local auto manufacturers, pledging continued policy support.