Oct 23 -
Only 12 countries absorb most exports
Pakistan is dependent on only twelve countries to
absorb most (66 to 68%) of its exports, while the remaining 31 to 34%
are destined for other countries, an analysis of the official foreign
trade statistics for the period '94-'99 shows.
United States emerges as the biggest trade partner
of Pakistan. In '98-99, it alone accounted for as much as 21.8% of
total exports. In that year, exported merchandise worth $1696m was
sent to that country.
The statistics indicate the proportion of exports
to the USA is always on the upswing. The US market share in Pakistan's
total exports was 16.2% in '94-95, 15.5% in 95-96, 17.7% in 96-97 and
20.5% in 97-98.
All the other 11 countries are way behind USA. The
second biggest market in '98-99 was Hong Kong. With exports amounting
to $549, it accounted for 7.1% of total exports in '98-99.
In 94-95, HK's share was 6.6%, as compared to UK
which occupied the pride of place as No. 2 with a share of 7.1%. But
in 95-96, HK became the importer of 9.1% of Pakistani exports and its
share went up to 9.4%. In the subsequent two years (97-98 and 98-99),
it levelled off to 7.1%.
The UK shared with Germany the third position with
6.6% each in 98-99. In the case of UK, this has descended from 7.2% in
96-97. As regards Germany, it accounted for 7.00% in 94-95, improving
somewhat to 7.5% in 96-97.
The analysis makes short shrift of the image of
Japan as a top-notch trade partner of Pakistan, so far as exports are
concerned. Its share stood at 3.5% in 98-99, denoting a sharp fall
from 6.7% in 94-95.
The contribution of the remaining seven countries
in 98-99 has been rather static, although official circles may use the
adjective "stable" for this situation, e.g.: Dubai: 5.4%
(from 4.0% in 94-95); France: 3.2% (from 3.2% in 94-95); Netherlands:
3.1% (from 3.2% in 94-95); Italy: 2.7% (from 2.9%); South Korea 2.5%
(from 3.3%); Belgium 2.4%; (from 2.6%); and Saudi Arabia: 2.4% (from
Rice exports increase by 108 per cent
The export of rice has registered a rise of 108 per
cent during July-October 2000 to 359,256 tons over the same period
Controller Quality Review Committee (QRC)
Ikramullah Chaudhry said on Tuesday that during the same period last
year the inspection cell of QRC had certified 172,995 tons of rice
"This year QRC certified 359,256 tons of rice
consignments till October 14, which is higher by 186,261 tons over
previous year", he said.
He said 203,063 tons of the total certified rice
was IRRI-6, 98,000 tons basmati, 32,000 tons IRRI-9, 22,461 tons of
blended, 3,732 tons of Pk-386.
"Last year Pakistan exported 1.75 million tons
of rice of which QRC certified 1.636 million tons", he added.
Exports to RoK may touch $700m mark
Pakistan's exports to South Korea during first half
of this year registered 35 per cent growth on a trade volume of $350
million thus raising the hope of achieving all time high two-way trade
volume of $700 million.
This was stated by the Ambassador of the Republic
of Korea Yoon Jee-joon at a press briefing held at the residence of
Korean Consul General Lee See-young on Tuesday.
The Korean envoy said that after witnessing
reversal in two-way trade during 1996-97, signs of recovery were noted
last year (1999) when Pakistan's exports to Korea increased by 50 per
cent on total two-way trade of $600 million.
PS sells Rs4.5 billion products
The Chairman of Pakistan Steel Colonel (Retd) Afzal
Khan is convinced that record sale of PS products amounting to Rs4.45
billion in the first quarter of 2000-2001 (July to September this
year) indicates a revival of construction business and domestic
industry where these goods are the vital inputs.
New shipping service
General Shipping Agencies have launched a new
service through Conti Lines for transportation of rice to West African
ports like Douala, Dakar, Lagos, Tema, Freetown, Conarky, Abidjan etc.
MoU with Indonesia signed
Private Sectors of Pakistan and Indonesia on
Wednesday inked a memorandum of understanding to promote bilateral
trade between the two countries.
The Memorandum of Understanding signing, witnessed
by the Minister of Commerce and Industry Abdul Razzaq Dawood and
Indonesian Minister of Industry and trade Luhut B. Pandjaitan, will
help enhance trade volume by improving imports and exports between the
Goods imported under ATTA
Kabul has imported Rs2.823bn worth of duty-free
goods under Afghan Transit Trade Agreement (ATTA) with Pakistan in the
first quarter of 2000-2001.
Officials figures reveal that about 38% of these
goods included sugar of various origins (Rs684m) and 11 varieties of
The rest of goods pertain to consumer, electrical
and vehicles etc categories. The imported items in July-Sept contains
other consignments for Afghanistan, especially imported for meeting
the food, health and winter needs.
Phenazone (antipyrin) and its derivatives with
penicillin and acid structure etc of Rs104.24m were imported in this
period. Perfumes, toiletries, room and air-fresheners etc of Rs 81.771
million were also imported in the same period.
Offers in euro to Iraq
The Export Promotion Bureau has advised Pakistani
companies dealing with Iraq to submit their offers preferably in
European currency Euro.
The EPB said on Tuesday that Iraqi Ministry of
Trade had decided not to consider any offer if estimates are quoted in
Call to boost trade ties with Russia
Russian ambassador to Islamabad, Edward Shevchenko
has said that in view of the changed economic and political situations
both in Russia and Pakistan there is an increasing need that the two
countries should work for mutual prospects of trade and investment.
He said though in the past the trade relations
between the two countries could not flourish due to geo-political
situation in the region.