Share of listed Pakistani firms exporting fell ~60% to 51% over examined decade.

What it does not prove: The universe is listed firms — a few hundred large, formal companies — so this tracks the export behaviour of the most capable end of the economy and says nothing about unlisted SMEs or the informal majority. The share can also fall without any exporter quitting, if the exchange lists new domestically-focused firms (banks, cement, utilities) that dilute the denominator.

Memory hook: 60%→51% → roughly one in seven listed exporters left world markets

Rebuts the claim: 'Export stagnation is entirely a demand problem in our buyer markets' — firms withdrew from exporting during the same period, which is a participation failure at home, not an order book failure abroad.