Exports Picking up... Eonomy looks bright.

Society Pakistan & World Affairs
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Exports are continuingRise in exports

http://www.dawn.com/2002/09/16/ed.htm#2

The trade figures for the first two months (July and August) of the current fiscal year, released by the Federal Bureau of Statistics (FBS), show welcome signs of a gradual recovery of the economy. The incipient trend of exports moving upwards that had emerged in the last quarter of the previous fiscal year has not only continued but seems to be strengthening although it is too early to say that it would stabilize. Indications are that value-addition in exportable goods is also gaining momentum. Imports of raw material, intermediate goods and machinery have all risen indicating that industrial activity is picking up. This is confirmed also by the figures released by the Investment Promotion Bureau about foreign direct investment during July which is substantially higher than that in the same month last year.

According to the FBS figures, export earnings during the two months under reference increased by 21 per cent from $1.4 billion during the same period last year to $1.7 billion this year. This makes the target of $10.4 billion for the current year achievable with a little more effort as the monthly average achieved so far ($850 million) is close to the monthly average of the annual target ($866 million). What is more satisfying is the fact that the increase in exports resulted largely from value-added goods. Textiles earned 20.6 per cent more than last year and yarn for the first time has been relegated to the fifth position in the textile group, fabrics occupying the first place. The group improved its contribution to total earnings from 71 per cent to 73 per cent. Other items which registered marked increases are chemicals (97.8 per cent), footwear (71.6 per cent) and engineering goods (51.71 per cent). Among significant losers are leather manufacturers, surgical goods and cutlery.

The factors that have helped exports include increased market access provided by the European Union by lifting quota restrictions on textiles and allowing duty-free entry for other goods. Relaxation in quota restrictions was also promised by the United States but this has not materialized yet for lack of final legal clearance. When that is done, it would make the realization of the export target for the current year certain. The other factor which has contributed to the rise in exports is the stability of the exchange rate as a result of accumulation of reserves. This has made it possible for Pakistani exporters and their overseas buyers to make deals with confidence - without the uncertainty of a rapidly fluctuating exchange rate affecting the prices of goods.
their upward trend… :slight_smile: :k:

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Good News :k:

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Pakistan Zindabad

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Adnan Ahmad

Thanks! I’ve been looking for Import/Exports source for about several weeks.

Great to know Exports are picking up :k:

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Textile Exports

**Pakistan sees big rise in textile exports **
By Farhan Bokhari in Lahore

Pakistan’s textile and cotton exports rose sharply by more than 20 per cent to $1.15bn (ý1.19bn) during the first two months of the (July-June) financial year, triggering expectations of a significant fall in the international trade deficit, senior government officials said on Thursday.

Overall exports during the two months rose on average by 17 per cent, though the rise was largely triggered by textiles which make up more than half of annual exports.

According to the federal bureau of statistics, within the textile sector, fabric exports rose more than 43 per cent to $221.8m while bedding rose more than 43 per cent to $194m during the two-month period.

Analysts said the rise was partially helped by a 15 per cent increase in Pakistan’s export quota by the European Union, announced last October, in recognition for Pakistan’s support to the US-led war on terror. Businessmen said government officials travelling to the US this week with General Pervez Musharraf, the military ruler, were expected to urge the US to liberalise imports from Pakistan.

The US gave a grant of just over $600m to Pakistan during the last financial year as part of $1bn in grants from the industrialised world in recognition of Gen Musharraf’s role in the campaign against Afghanistan’s former Taliban regime and the al-Qaeda Islamic militants.

Pakistani officials expects the textile recovery to continue in the coming months, which is also helped by estimates that the country’s textile manufacturers have invested at least $500m in the past 18 months in modernising their factories.

Pakistan has set a target of exports this year of $10.4bn up from $9.2bn last year. With improved access to the US and Europe which receive about 60 per cent of Pakistan’s exports, the country was now closer to achieving its target than in the last financial year.

Last year, exporters suffered from higher transport costs driven by a sharp increase in insurance premiums after Pakistan’s Arabian Sea coast was designated as a high risk zone.