A case study of Pakistan’s exports in post COVID-19 scenario
Keywords:
Exports, Covid-19, Pandemic, Pakistan, Developing Economy, GovernmentAbstract
This paper explores the crucial role exports play in Pakistan's economic growth, particularly amidst the disruptions caused by the COVID-19 pandemic. Exports are essential for earning foreign exchange, maintaining current account balance, and driving economic development. However, Pakistan has consistently declined its export-to-GDP ratio since 2014, leading to economic instability. The COVID-19 pandemic worsened these issues, causing supply chain disruptions and a drop in global demand. This study assesses Pakistan's export performance before and after the pandemic, evaluates the pandemic’s impact on trade, and offers recommendations for fostering export-led growth in the post-pandemic period. It also highlights the significant 10% economic loss in FY2021, with major trading partners like the USA, China, and Germany facing severe impacts. Despite challenges, Pakistan's textile and leather sectors grew in areas such as surgical instruments. A survey of 149 respondents showed statistically significant relationships between key variables and government policies like tax waivers and reduced utility costs, which helped revive industries, particularly textiles, creating jobs and boosting exports. The study recommends diversifying low-cost products and enhancing export strategies to recover lost trade. However, limitations such as a small sample size and limited resources suggest that future research is needed to expand on these findings.
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