Pakistan continues to struggle with the challenge of weak exports. This has had an adverse impact on the nation’s trade balance, current account, and foreign exchange reserves.
The modest scale and slow growth of exports are major factors driving the country to frequently seek International Monetary Fund (IMF) bailouts.
Pakistan’s export profile is limited in size but also lacks variety. The textile industry bears the brunt responsibility for this, accounting for nearly half of all of the country’s exports in goods and services in the last fiscal year, according to data from the State Bank of Pakistan (SBP).