With @StateBank_Pak releasing dissaggregated #trade data for December, we have a picture of the full 2021, which, despite #supply #chain disruptions worldwide, was 'good' for #Pakistan. Short thread below:
1\ #exports grew by 30.1% in 2021 w.r.t. 2020, with a strong pick up in merchandise, but also substantive in services.
#trade #Pakistan
#trade #Pakistan
2\ To be sure, in #real terms, #Pakistan's #exports remain below its local max in 2011. So, no 'record exports' if we talk real terms and not values.
5\ In #services, it was a very good year for #knowledge #intensive services #exports, led by #ICT and other #business services.
6\ #Import growth outperformed #export growth, registering an increase in values of 49.5% in 2021 w.r.t. 2020.
7\ A substantial chunk of this increase is because of increases in #commodity #prices: mainly petroleum, edible oils and cotton.
#trade #Pakistan
#trade #Pakistan
8\ Sustaining #export growth will be crucial to reduce external vulnerabilities that arise from increasing #trade deficits. More #productivity, #credit for productive #investments, and better #incentives, will help. Read more here: thedocs.worldbank.org/en/doc/4fe3cf6… #trade #Pakistan
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