Pakistan x378s exports have turned the corner and overcome the challenges posed by the global recession. The exports in March stood at US$ 1.807 billion as compared with US $ 1.312 billion in March 2009, registering a 37.8% increase over the corresponding month of last year. The export performance in March has been the highest recorded in any month of the current year as well as for the corresponding month of the previous five (5) years.
It is also important to note that exports during the months December thru March 2010 have grown at an average of 28.3% over the corresponding period of 2009, which gives encouragement to the thought that the recession is officially over for Pakistan . It is also safe to predict that Pakistan x378s exports for the financial year 2009-2010 will overshoot the target of US $ 18.868 billion. In fact if the current trend continues, and it is fair to assume that it will, the exports of Pakistan are well on course to break the US$ 19 billion threshold achieved in the year 2007-2008.
It is also important to note that exports during the months December thru March 2010 have grown at an average of 28.3% over the corresponding period of 2009, which gives encouragement to the thought that the recession is officially over for Pakistan . It is also safe to predict that Pakistan x378s exports for the financial year 2009-2010 will overshoot the target of US $ 18.868 billion. In fact if the current trend continues, and it is fair to assume that it will, the exports of Pakistan are well on course to break the US$ 19 billion threshold achieved in the year 2007-2008.
The Global recession which resulted in the shrinkage of the western and developed economies by approx 5% on an average in the year 2009, saw the developing economies maintain a robust growth averaging 6%. This phenomenon has also had a positive impact on the geographic diversification of Pakistani exports, so that Pakistani exports to Asia now accounts for 45% of total exports from Pakistan. Asia has therefore emerged as the largest market of Pakistani goods. The Trade Development Authority of Pakistan is now doubling its levels of participation in Asian markets through increased delegations, exhibitions and other facilitations for Pakistani exporters to take advantage of opportunities in Asian countries.
