Exports remained stagnant despite the fall in the rupee
Exports stagnant. Design: Ibrahim Yahya LAHORE: For years, Pakistan relied on traditional levers such as currency devaluation and energy subsidies to boost exports. However, despite multiple rounds of rupee devaluation, the country’s export earnings have remained largely stagnant. According to an empirical analysis by the Lahore School of Economics (LSE), it is not price adjustments, but innovation, diversification and access to high-income markets that really drive export growth. The comprehensive study, covering product-level data from 2003 to 2024, found that Pakistan’s exports, both in US dollar terms and as a share of GDP, have remained mostly stable over three decades.




