The ministry of finance has issued the Monthly Economic Update & Outlook report wherein noting the upward trend in economic revival and consistent activity with increased remittances and tax revenues.
As per details, The monthly economic report published in July said there is 27% increase in remittances from July last year to June with $29.4 billion pouring in the country under this head.
The report further reads that during financial year 2021, exports increased by 18.3% to $25.3 billion. Last year the total exports stood $21.4 billion, The exports posted growth compared with last year because of slow down in industries due to coronavirus lockdown.
The report also said that major exported commodities which performed well includes knitwear with 36.6% growth; readymade garments 18.8%; bed wear 28.9%; towel 31.8%; carpet, rugs and mats 36.9%, leather manufactured 18.7%.
Exports in fish and fish preparations posted 1.9% growth, The increase in overall exports is contributed by the growth in exports of value-added sectors.
Imports in FY2021 surged to $56.4 billion, compared to $44.6 billion last year, thus posting 26.6% growth.
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