Pakistan Exports Decline By $1.34 Billion Amid Concerns

In a concerning development for Pakistan's economy, the country's exports have dropped significantly, with a total decline of $1.34 billion during the first seven months of the current fiscal year, falling from $19.58 billion to $18.19 billion, marking a 7.11% decrease. This downturn is largely attributed to weak global demand and domestic production challenges, particularly in the food sector, which saw a staggering 35% drop in exports. Despite this, the textile sector showed a slight improvement, with exports rising by 1.25% due to increased sales of raw cotton and ready-made garments. As noted by StartupPakistan, "Sustained growth in textiles and diversification into new products could help Pakistan improve its trade balance in the future."