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October 17, 2026
Pakistan aims to reach $100 billion in exports by 2035 as Ahsan Iqbal pushes industrial upgrades, market diversification and reforms to break the cycle of borrowing and economic crises.
Pakistan has set an ambitious target of raising exports to $100 billion by 2035, with Planning Minister Ahsan Iqbal warning that the country cannot achieve lasting economic independence without shifting from consumption-driven growth to an export-led model. The strategy aims to reduce reliance on foreign borrowing, strengthen foreign exchange earnings and prevent recurring balance-of-payments crises.
Speaking at the 39th International Conference and Annual General Meeting of the Pakistan Society of Development Economists (PSDE) on October 14, Iqbal said Pakistan’s economic growth had repeatedly triggered higher imports, widening trade deficits and pressure on the exchange rate. He pointed to 2022, when economic growth reached 6% but imports climbed to a record $80 billion and the trade deficit widened to $50 billion.
Pakistan’s export performance highlights the scale of the challenge. Goods exports stood at approximately $32 billion in 2024, compared with $47 billion for Bangladesh, $330 billion for Malaysia and $404 billion for Vietnam, exposing a significant competitiveness gap with regional and international peers.
Iqbal said the government’s URAAN Pakistan framework places exports at the centre of its long-term economic transformation agenda. Achieving the target will require competitive industrial clusters, stronger domestic value chains, modern technology and closer integration with global supply networks.
The government is also working with the State Bank of Pakistan and industry to strengthen the country’s top 20 export clusters while promoting non-traditional sectors, including engineering, chemicals and advanced manufacturing. Diversifying products and export destinations is a priority, as Pakistan continues to rely heavily on products and markets that have changed little over several decades.
Pakistan Institute of Development Economics Vice Chancellor Dr Nadeem Javaid highlighted another warning sign: exports of goods and services fell from around 16% of GDP in the late 1990s to approximately 10.4% in 2024. He cited high energy costs, tariffs, financing constraints, logistical bottlenecks, skills shortages and regulatory uncertainty as major barriers to international competitiveness.
Iqbal also stressed the importance of capturing more value from Pakistani products through local branding, design and processing rather than allowing foreign brands to earn the larger margins. Agriculture, information technology, manufacturing, services and creative industries could help expand export earnings if businesses improve quality and meet international demand.
The two-day conference, titled “Mission $100 Billion: The National Race for Sustainable Export-led Prosperity,” runs from October 14 to 15. The target sets a clear ambition, but delivering it will depend on whether Pakistan can translate policy commitments into competitive production, sustained investment and measurable export growth.
