For the first time in history, it managed to earn more than 5 billion in one month

In March, the country's exports and remittances surpassed all records, and by the end of the fiscal year, for the first time in years, Pakistan will be earning billions of dollars more than its trade spending

ISLAMABAD:

 For the first time in its history, Pakistan has managed to earn more than 5 5 billion in foreign exchange in a single month. According to the details, after a long period of economic difficulties, Pakistan has finally started showing improvement on the economic front. It has been reported that in March 2021, all the records of increase in exports and remittances of the country were broken, due to which for the first time Pakistan has managed to earn more than 5 5 billion in a month.

   In March 2021, Pakistan exported more than 3 2.3 billion and earned more than 7 2.7 billion in remittances. According to experts, by the end of this financial year, for the first time in years, Pakistan will be able to earn billions of dollars more from its trade expenditure

   According to a report, Pakistan's trade deficit is likely to narrow further by the end of the financial year.

   It is estimated that by the end of the financial year, Pakistan's imports will reach ارب 50 billion. The combined volume of remittances and exports is expected to be 52 billion. Remittances are expected to be 27 27 billion, while exports are expected to exceed 24 24 billion. In March last year, Pakistan's exports reached an all-time high.

   In the first nine months of the fiscal year, Pakistan has so far exported more than 18 18 billion. On the other hand, the volume of remittances is also increasing. More than 2 2 billion in remittances were received each month during the first nine months of the fiscal year. In the first nine months of the current financial year, Pakistan has gained a total of more than 21 21 billion in remittances. Therefore, it is likely that years later, at the end of a fiscal year, Pakistan will receive more dollars than its trade costs.

   According to economists, a record number of foreign exchange transactions will reduce Pakistan's dependence on foreign loans. Meanwhile, the recent economic outlook released by the Finance Ministry also expressed hope for improvement in the Pakistani economy. According to the report, industrial and agricultural production improved, tax revenues and revenues increased, foreign exchange reserves reached 20 20 billion and the stock exchange index crossed 46,000 points. In just seven months, tax revenue increased by 6% and remittances by 24%. This is less than the expected 7.3%.