The Pakistani embassy in Riyadh has reported that Pakistan’s exports to Saudi Arabia have risen by 31 per cent to a record high of $563.47 million in the fiscal year ending June 30, 2023. This increase has been driven by significant exports of rice, followed by meat and edible meat products.
In the previous fiscal year, exports to Saudi Arabia were recorded at $429.52 million. Azhar Ali Dahar, the trade and investment minister at the Pakistani embassy in Riyadh, said that Pakistani-origin goods exported via the UAE and other countries may have pushed the export figures up to roughly $1 billion.
The boost in exports to Saudi Arabia was the result of various trade-facilitation measures implemented by Pakistani authorities, including the registration of Pakistani companies for the export of halal meat with the Saudi Food and Drug Authority (SFDA), and the removal of bans on a range of products, such as hatchery eggs.
Despite a decline in Pakistan’s imports to Saudi Arabia, Dahar expressed confidence that Pakistani exporters would continue to explore business opportunities in the Kingdom and help boost exports further.