By Asad Cheema
ISLAMABAD: Pakistan’s exports to Japan have jumped by 40% in the first quarter (Jan – Mar) during the current year as compared with the last quarter of 2020 i.e. (Oct–Dec).
According to trade figures released by Japan’s Ministry of Finance, the increase is more than 47% when compared to the same period last year i.e. Jan – Mar 2020, Pakistan embassy in Japan. This trend highlights that Pakistan is coming out of the challenges to international trade posed by the current pandemic.
Covid related limitations had brought a slight negative impact on trade between Pakistan and Japan towards the end of last year; however, Pakistan’s exports to Japan bounced back in high numbers.
As compared to exports of US$ 61.6 million in the last quarter of 2020, Pakistan has exported goods worth of US$ 86.1 million to Japan from January to March 2021, whereas exports in the same quarter last year stood at US$ 58.7 million. This multiplying trend observed in bilateral trade is mainly associated with focused efforts of the mission to diversify the export mix of Pakistan for Japan.
Pakistani Mission in Tokyo, through its Trade and Investment Wing, devised an export diversification strategy ‘Option Pakistan’ last year with a focused layout plan – reaching out to all major business chambers and trade associations in Japan, introducing a range of Pakistani exportable products.
