Blessed with rich natural resources, a deep cultural history, and a pivotal geographical stance, Pakistan is uniquely positioned to elevate its economic stature by boosting its Small and Medium-sized Enterprises (SME) export sectors. Boasting a bounty of agricultural yields, premium textiles, extensive gemstone deposits, a talented workforce, and a thriving SME sector, the country is primed to enhance its global market presence. By capitalizing on these strengths and adopting strategic initiatives, and focusing on Islamic teachings on business and trading, Pakistan can seize the vast prospects in international trade, setting the course for economic advancement.
Prophet Muhammad (SAW) said, "An honest and trustworthy merchant will be [raised] with the Prophets, the truthful and the martyrs." Jami` at-Tirmidhi: 1209
This year, we delve into the sectors that can potentially catapult Pakistan to prominence in the global export landscape.
Dry fruits are a delicious and nutritious delicacy that has been enjoyed for centuries. Pakistani dry fruits and nuts such as apricots, plums, figs, almonds, pistachios and walnuts are known for their exceptional quality and flavor and have become a popular export commodity. Dry fruits offer numerous nutritional benefits as they are rich in protein, fiber, minerals and vitamins.
Information Technology (IT) industry is among the top five net exporters of the country and is increasingly becoming one of the leading foreign exchange earning segments of the economy. Pakistan’s IT potential is on a remarkable upswing as over 70 percent of the country’s population is less than 34 years of age and young people are generally early adopters of technology.
Pakistan is home to many varieties of minerals such as ruby, emerald, topaz, pink topaz, sapphire, zircon, turquoise, etc. Most of the minerals found in Pakistan come from the country’s western and northern areas that are home to three mountain ranges; Hindukush, Himalaya, and Karakorum, as well as the major mountain ranges of Baluchistan.
Himalayan pink salt, considered a gourmet salt, is a natural, pink-hued variant of salt that has low Sodium content and an estimated 84 different types of minerals. Himalayan salt is believed to have been formed when the Indian land mass collided with the Asian continent and the remaining sea evaporated, leaving behind salt.
Pakistan’s fishing industry holds significant export potential. With a 1,000 km long coastline along the country’s southern and southwestern borders, Pakistan possesses a rich and diverse seafood portfolio including shrimp, fish, crabs, lobsters, etc. that are exported to different countries across the world.
Pakistan is among the leading countries in the world in the production of surgical instruments. Most of the world’s surgical instruments are made by firms in selected cities & towns in Europe and Asia - these locations include Tuttlingen (Germany), Sialkot (Pakistan), Penang (Malaysia), Debrecen (Hungary), and Warsaw (Poland).