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Exports record 19.5pc decline due to ‘unprecedented rains’ in August

Exports record 19.5pc decline due to ‘unprecedented rains’ in August

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood said on Thursday the country’s exports recorded a 19.5 per cent decline during August due to “unprecedented monsoon rains.”

Taking to Twitter, he said: “Due to the unprecedented monsoon rains, resulting in disruption of supply chain, our exports for the month of August 2020 have recorded a decline of 19.5%, as compared to August 2019.”

However, he added, the positive sign is that regardless of this temporary decline, the country’s trade balance continues to improve.

“Exporters are encouraged that despite the calamity of rain and flooding, we must pursue Make in Pakistan policy and export-led growth. I have every confidence in our exporters that they will make up for the loss of August 2020.”