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Lockdown return amid virus resurgence may dent exports: Dawood

Lockdown return amid virus resurgence may dent exports: Dawood

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood tweeted on Tuesday that the coronavirus pandemic is an unprecedented crisis in recent human history with far-reaching implications on the global economy.

He said recent figures released by the World Bank show that the pandemic has caused GDP contraction around the world, projecting that the major economies of the West, Japan, South Korea etc. will post negative growth rates.

“With the world returning to lockdowns, amid coronavirus resurgence, the demand for our exports may also be affected,” he said, appealing to exporters to be “vigilant and aggressive” so that they may be able to sustain their presence in the global markets.

On October 2, he had said the country’s exports rose by 6 per cent to US$1.872 billion during August as compared to the corresponding month last year. “The export figures for Sep 2020 have shown improvement. As compared to Sep 2019, our exports have grown 6% to USD 1.872 billion.”

“Although this is better than decrease of 15% in Aug 2020, I still feel that with sufficient backlog of orders we can do much better,” he added.