drop by 23.75% in July
2000-2001 has had a rather inauspicious start with the exports during
its first month (July 2000) plummeting by 23.75% over the previous
month, according to the trade statistics released by the Federal Bureau
of Statistics on Wednesday.
month also registered descent of imports by 20.98% over the previous
month. These amounted to $800.56m, compared to $1.01bn in June 2000,
resulting in a trade deficit of $132.58m, down 3.26% from the previous
during the month totalled $667.98m over $208m less than in June, 2000,
indicating loss of momentum in exports that was witnessed in recent
commerce minister in his Trade Policy 2000 has set $10bn as the target
for exports for the current financial year. On this basis, the month's
exports have fallen short of the average monthly target by about 20%.
This probably was the reason the commerce minister prevented the release
of aggregate trade figures for the month.
commerce ministry, it may be noted, had established a tradition of
providing to the press aggregate figures for the preceding month, few
days prior to the release of desegregated figures about exports and
imports by the Federal Bureau of Statistics. This tradition has been
broken this time.
sharp drop in exports, the proportion of imports covered by exports also
slid down. In June 2000, the export figure was short of the import
figure by 17.53%. In July 2000, this ratio went up to 16.56% of the
imports. This means that the government will have to raise resources to
cover the balance of payment deficit to that extent, whether by purchase
of dollars from the open market or by loan from some foreign agency.
compared to July 1999, the performance of exports shows an increase of
$66m or 11.06% in the month under report, while the imports have gone up
by 1.46%. The balance of trade gap too, was down 29.30%, compared to
goods exports fall
proportion of manufactured goods in total exports dropped to 89.16%
during the month of July 2000 compared to July 1999 when it stood at
to figures of Federal Bureau of Statistics, textile manufactures noted
sharp decline. During the first month of financial year 1999-2000 it was
79.25%, as against 73.52% in the corresponding month of the current
financial year falling by about 6%.
the final month of 1999-2000, manufactured goods had contributed 87.74%
of total manufactured exports which means some increase in their share
in July 2000. Similarly, July 2000 registered a slight improvement in
textile manufactures over the 72.50% of June 2000.
compared to June 2000, however, the textile manufactures, which totalled
$437.85 million in July 2000 plummeted by 21.44%, while at the same time
showed an increase of 2.91% over July 1999.
edible oil import to save $100m
is expected to save $100 million through cut in edible oil import during
the current fiscal year, as a result of conscious efforts to boost
indigenous oilseed production, official sources said on Thursday.
edible oil production in 2000-01 is anticipated at 740,000 tons against
the domestic requirement of 1.9 million tons, leaving behind a gap of
1.1 million tons to be imported, the sources added.
1998-99, $788 million were spent on edible oil import which came down to
$450 million during the previous fiscal year, helping the country to
slash its food import bill significantly.
15,000 tons rice
of credit of Iran Government Trading Corporation (GTC) for the purchase
of 15,000 tons of Pakistani IRRI-9 rice will be operative in a couple of
days and the loading will be completed by the end of this month.
stated by the Chairman, Trading Corporation of Pakistan (TCP) Fazlur
The GTC of
Iran had already opened LC, but it was non- operative.
Pakistani Embassy in Iran has communicated to TCP that the LC will be
operative in a couple of days while the vessel is going to be nominated
with Germany declines
trade with Germany, as well as German investment in Pakistan are on
decline and entrepreneurs from both the countries need to strive hard
for the reversal of this trend.
were expressed by the Consul General of Germany, I. Brentle during a
seminar organized by the Pakistan German Business Forum at a local hotel
to Indonesia decline
export of rice, cotton yarn, cotton fabrics, refined sugar and petroleum
products to Indonesia has reduced, it was informed in a meeting between
the Ambassador Indonesia Jack Said Gaffar and the office-bearers of
Islamabad Chamber of Commerce and Industry on Wednesday.
boost gem exports
government has formed a gems mining committee to encourage investors in
gems' mining, processing and trading. It will also have representatives
from the private sector to advise the government.According to a Small
& Medium Enterprise Development Authority (SMEDA) spokesman, the
induction of people from private sector will ensure transparency and
spokesman said the committee will formulate specific prospecting, mining
and marketing regulations and evolve strategy for the reactivation of
abandoned gemstone mines as well as auction of known mines.
certifies rice for export
Review Committee has certified more than 1.743 million tons of rice for
export purposes till August 7, officials said.
controller, Chaudhry Ikram, said that the Committee has certified more
than 1.632 million tons of rice till June 31, 2000, while 110,828 tons
between July 1, 2000 and Aug 7, 2000.