Pakistan’s exports to Japan grew by 47 percent in the third quarter of the fiscal year 2021 to $86.4 million from $58.7 million as compared to the last fiscal year, according to the Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood.
In a tweet on Monday, the adviser said that Pakistan witnessed an increase in its exports of seafood, petroleum, dry fruits, spices, minerals, woven fabric, knitted garments, sports goods, cutlery, and dates.
“I want to urge our exporters to move full speed ahead in exporting their products to Japan,” he said. Dawood also commended the efforts made by Pakistan’s trade and investment officer in Tokyo in this regard.
Meanwhile, Japan’s Ministry of Finance has released trade figures. According to the figures, Pakistan’s exports to Japan have jumped by 40 percent in the first quarter (Jan–Mar) of 2021 compared to the last quarter of 2020 i.e. (Oct – Dec). The increase is more than 47 percent when compared to the same period last year i.e. Jan–Mar 2020.
This trend highlights that Pakistan is coming out of the challenges to international trade posed by the current pandemic. The Covid-related limitations had brought a slight negative impact on trade between Pakistan and Japan towards the end of last year; however, Pakistan’s exports to Japan bounced back in high numbers. As compared to exports of US$ 61.6 million in the last quarter of 2020, Pakistan has exported goods worth of US$ 86.1 million to Japan from January to March 2021, whereas exports in the same quarter last year stood at US$ 58.7.
This multiplying trend observed in bilateral trade is mainly associated with focused efforts of the Mission to diversify the export mix of Pakistan for Japan.
In the recent months seafood products, petroleum, dry fruits, spices and minerals have contributed to Pakistan’s rising exports to Japan; whereas, a considerable increase has been noticed in export of woven fabric, knitted garments, honey, sports goods, cutlery, socks, gloves, gems & jewellery and dates.
