. .

Apr 16 - 22, 2001

Textile manufacture exports drop by 3%

The share of exports of textile manufactures in overall merchandise exports dropped by about three per cent to 62.44 per cent during the period July-March 2000-01 as compared to the corresponding period of previous year.

One of the factors, according to an analysis of the official foreign trade statistics, was the continued downward trend of unit prices in the world market. Although this is true of all the major categories of export goods, the trend is especially pronounced in respect of the category "textile manufactures" in view of its predominant position in the export business of Pakistan.

The exports during the period under report totalled $6.71 billion, 8.34 per cent more than in July-March, 1999-00. Of this, 86.66 per cent was the contribution of manufactured items. This indicates a slight decline from the corresponding period of previous year when their share in total exports was 87.03 per cent.

Within the category "manufactured exports", the share of textile manufactures was 72.05 per cent, down about three per cent from previous year. This brings into focus the abnormally high dependency of exports on textile manufactures. The fragility of Pakistan's exports is further highlighted by the increasing competition faced by our textile exports in the world market that forced down the unit prices.

Cumulatively, the exports of textile manufactures inched up by 3.48 per cent during the 9-month period under report over the comparable period of previous year. But when looking at their performance for the month of March, the picture is far from bright; for in that month, textile manufactures fell by 0.34 per cent.

According to the statistics, the export of cotton yarn went up by 6.40 per cent to 394,828 metric tons in July-March 2000-01, but due to 5.71 per cent drop in the average price, the foreign exchange earned was increased by only 0.37 per cent. Consequently, the share of cotton yarn in textile manufacture exports declined to 18.60 per cent from 19.18 per cent in the corresponding period of previous year.

Export of leather, products up

The exports of leather and its products have increased by 28.50 per cent to $476.849 million during July-March 2000-2001 on higher demand in USA and other European countries.

According to official statistics Tuesday, Pakistan exported leather products worth $370.99 million during the same period previous year.

The export of leather and leather manufacturers fetched $154.332 million and $322.507 million respectively during the first nine months of the current fiscal year. Pakistan leather and its products exports during the entire fiscal year of 1990-2000 stood at $513.825 million.

Chairman Pakistan Tanners Association (PTA) Farrukh Husain Shaikh, said that demand for leather garments and design products has considerably increased in US and other European countries since last one and a half year.

Import of Italian machinery

The acting consul general of Italy, Ugo Falciola on Tuesday said there had been rapid rise in imports of Italian textile machinery to Pakistan, during last two years.

Addressing a seminar on "Italian Textile Technology in Pakistan" jointly organized by Italian Trade Commissioner and Textile Manufacturers Association of Italy, the envoy said that imports of Italian machines to Pakistan were about $27 million in 1999, showing an increase of 80 per cent over previous year.

Speaking on the occasion, the Italian Trade Commissioner Dr Emilio De Matteis said such symposiums were part of promotional activities being under took for the last two years by his offices and Italian textile machinery manufacturers.

Exports of merchandise fall

Merchandise exports of Pakistan fell short of the target by 7.85 per cent, during the first three-quarters of fiscal 2000-01.

According to foreign trade statistics released by the Federal Bureau of Statistics (FBS) on Monday, exports during the period July-March, 2000-01, amounted to $6.71 billion as against the target of $10 billion for the whole year.

At the end of the period, therefore, the country will have to raise its exports to $1.09 billion per month in order to come at par with the target. This, however, seems difficult because in the first nine months of the year, the exports averaged $746.16 million per month.

Record business at fair

Exporters at the Pakistan pavilion in Asia Pacific Leather Fair held from April 1-4, 2001, attracted big business to the tune of $50 million, which was a record for Pakistan Tanners Association (PTA).

This was stated by Agha Saidain, director of the pavilion on his return from Hong Kong after attending the fair, jointly organized by the Export Promotion Bureau and PTA.

Rice exports fetch $331.622m

Pakistan has exported rice worth more than $331.622 million during the first nine months of current fiscal year.

The Controller of Quality Review Committee (QRC), Ikramullah Chaudhry said on Saturday that the increase in the export of super basmati rice (extra long grain) has significantly contributed to the overall rise in rice export.

The export of super basmati was up by 21.42 per cent to 131,907 tons fetching $73.668 million till April 2, 2001, compared to 108,637 tons during the same period last year.

Exports with Iraq increasing: Dawood

Minister for Commerce, Industries and Production, Abdul Razak Dawood has said that after the 7th Joint Ministerial Commission (JMC) meeting between Iraq and Pakistan, the trade and exports of Pakistan are increasing.

He expressed these views at a dinner hosted by him in the honour of visiting Iraqi Minister for Housing and Construction Ma'an Sarsam and the delegates of 8th JMC meeting on Tuesday.