Can Pakistan Achieve $60 Billion in Exports by 2029? The Government’s Plan Explained

Pakistan stands at a crossroads in its economic journey. For years, the country has grappled with a stagnant export base dominated by textiles and agriculture, while regional competitors like Vietnam and Bangladesh have surged ahead. Now, the government has unveiled an ambitious plan under the URAAN Pakistan Initiative, launched by Prime Minister Shehbaz Sharif. Under the leadership of Planning Minister Prof. Ahsan Iqbal Chaudhary , a Home Grown National Economic Transformation Plan has been developed, aiming to transform Pakistan into a $1 Trillion Economy by 2035 and a $3 Trillion Economy by 2047, with an immediate focus on achieving $60 billion in annual exports by 2029. But can Pakistan truly transform its export landscape and meet this ambitious goal?

Understanding the Challenge

Pakistan’s export base has long been dominated by textiles and agriculture, which account for nearly 70% of export revenue. However, over-reliance on these sectors has hindered diversification and limited economic complexity. The government acknowledges the difficulties posed by global trade standards, high energy costs, and currency fluctuations, which have constrained industrial growth.

While the challenges are significant, Pakistan’s strategic location, youthful workforce, and access to raw materials provide a strong foundation for revitalizing exports. Through URAAN Pakistan, the government is implementing a series of targeted reforms to unlock this potential.

The Government’s Strategy: How We’ll Get There

1️⃣ Macroeconomic Stability and Reforms

Stabilizing the economy is at the core of our strategy. The government is:

▶️ Rationalizing tariffs to make Pakistani products more competitive globally.

▶️ Encouraging foreign direct investment (FDI) in export-oriented industries.

▶️ Strengthening public finances by raising the tax-to-GDP ratio to 13%, creating fiscal space for export-friendly initiatives.

2️⃣ Boosting Productivity and Innovation

The Government is incentivizing the adoption of advanced technologies in both agriculture and manufacturing to elevate productivity. Compliance with international trade standards is a key focus to ensure Pakistani goods meet global market requirements.

3️⃣ Improving the Investment Climate

Through the Special Investment Facilitation Council (SIFC), we are creating a business-friendly environment by reducing regulatory hurdles and fostering partnerships with international investors. New trade agreements and venture capital funds are being introduced to empower SMEs and encourage innovation.

4️⃣ Product and Market Diversification

The government is actively moving beyond traditional exports by investing in green technologies, IT, creative industries, and defense manufacturing. By integrating provincial strengths—such as agriculture in Balochistan and minerals in Khyber Pakhtunkhwa—into global value chains, we aim to expand Pakistan’s export portfolio.

5️⃣ Empowering SMEs

Small and medium enterprises (SMEs) are central to our economic strategy. Policies are being implemented to formalize the sector, provide access to affordable financing, and encourage public-private partnerships for scaling businesses.

6️⃣ National Branding

Pakistan’s “Made in Pakistan” campaign is designed to position Pakistan as a symbol of quality and reliability in global markets. Showcasing Pakistan’s rich cultural heritage alongside modern innovations, this initiative will redefine our image on the international stage.

Sectoral Focus: Driving Export Growth Through Key Industries

The Government has identified eight priority sectors to drive export growth: IT, agriculture, manufacturing, creative industries, minerals, services, manpower, and the blue economy.

🔹IT is expected to play a transformative role, contributing $25 billion annually.

🔹Agriculture will be modernized to generate $13 billion in exports, while the blue economy and creative industries offer untapped opportunities for diversification.

Execution and Accountability: Ensuring Results

The government understands that success depends on effective implementation and accountability. Clear timelines and performance monitoring systems have been established for all export initiatives. Collaborations with academia, chambers of commerce, and civil society are central to our approach, ensuring transparency and alignment of national efforts.

Additionally, the URAAN Pakistan initiative includes nationwide campaigns to build awareness and support for export-driven growth. Consultative sessions with stakeholders across sectors are being held to foster collaboration and ensure that reforms benefit everyone—from SMEs to large-scale industries.

A National Commitment to Export-Led Growth

The $60 billion export target is not just a number—it is a vision for Pakistan’s future. By transforming our export policies and practices, the government aims to reposition Pakistan as a competitive global trade player. This journey will require sustained effort, but we are confident that with the right mix of policies, innovation, and collaboration, we can achieve this milestone and pave the way for long-term economic prosperity.