- Pakistan’s exports grew 8.32% and 18.30% in Nov, Dec 2020
- India’s exports recorded negative growth of -9.07% in Nov and -0.80% in Dec
- Bangladesh saw exports fall by 0.76% in Nov and -6.11% in Dec
ISLAMABAD: Prime Minister Imran Khan said on Thursday that regional export trends for November-December 2020 put Pakistan ahead of India and Bangladesh.
According to the data shared by the premier, Pakistan’s exports grew 8.32% in November 2020 and 18.30% in December 2020 on year-on-year. While India recorded a negative growth of -9.07% and -0.80% and Bangladesh saw its exports fall by 0.76% and -6.11% in November and December 2020 respectively.
PM Imran Khan congratulated exporters and the Ministry of Commerce for “this achievement”.
Coronavirus and the global economy
When 2020 dawned, the global economy had just notched its 10th straight year of uninterrupted growth, a streak most economists and government finance officials expected to persist for years ahead in a 21st Century version of the “Roaring ‘20s.”
But within two months, a mysterious new virus first detected in China in December 2019 – the novel coronavirus – was spreading rapidly worldwide, shattering those expectations and triggering the steepest global recession in generations.
The International Monetary Fund estimates the global economy to have shrunk by 4.4% this year compared with a contraction of just 0.1% in 2009, when the world last faced a financial crisis.