Pakistan’s goods exports rose 8.8 per cent to a record $11.4 billion in the first four months (July-October) of the current fiscal year, compared with $10.4b in the corresponding period last year, according to official data released on Sunday. The increase follows a series of measures introduced by Prime Minister Shehbaz Sharif in the federal budget to support exporters and industry, including tax and surcharge reductions, faster processing of refunds and improved access to export financing. According to the data, the measures were supported by coordinated efforts of the finance team and relevant government institutions to strengthen exports and facilitate businesses. Read: Exports to Gulf plunge amid Iran conflict Other initiatives included better utilisation of export development funds and dedicated financial support for small and medium-sized enterprise (SME) exporters, particularly micro and small businesses. The government said these interventions had helped create a more conducive business environment and strengthen the country's export capacity despite persistent regional and global economic challenges. It reaffirmed its commitment to further facilitating businesses, industry and investors through a competitive policy environment, improved access to financing and structural reforms. However, the latest increase comes after Pakistan's exports declined in the previous fiscal year, falling to $30.8b in 2025-26 from $32.04b in 2024-25. The decline was partly driven by a $1b fall in rice exports, while shipments of sugar, cotton, onions, sesame and potatoes also decreased. Also Read: High costs squeeze Pakistan's exports Official documents attributed much of the export contraction to the US-Iran conflict, during which shipments fell 32.3 per cent between March and June 2026 compared with the corresponding period a year earlier. Exports to Gulf markets dropped to $663.7 million during March-June 2026 from $980.6m in the same period of 2025, reflecting a substantial contraction in trade amid regional tensions. The downward trend also persisted in the current fiscal year. During July-October 2026, Pakistan's exports to Gulf countries registered a 6.4pc decline compared with the corresponding period last year. During the four months, exports to the region fell from $1.889b to $1.0191b.