May 14 -
Manufactured goods export up by 7.15%
Export of manufactured products increased by more than 7.15
per cent during the first ten months of 2000-01 over the corresponding period of
previous fiscal. According to Federal Bureau of Statistics, the manufactured
goods share in total exports amounted to $7.45 billion, falling to 86.73% from
87.06% in the corresponding period of 1999-2000.
In line with the global recessionary trend and declining unit
prices, the receipts from exports continued to register a negative trend. Thus,
the prices in dollars are not a reliable measure of performance. The figures
show that volume-wise, exports of most of the items, both among primary
commodities and manufactured/semi-manufactured went up, while their value
registered a negative trend.
After adjusting a reduction of 5.75% during the month of
April 2001, in total export figure, the textile manufactures exports registered
a growth rate of 3.02% during the period under review. In fact, this sector
pulled down the share of manufactured exports in total exports. Its share in the
total export figure stood at 62.64%, as compared to 65.39% for the corresponding
period of previous year. Outstripping cotton fabrics for the first time in many
months, cotton yarn export emerged as the top-most earner of foreign exchange
among textile manufactures (and semi-manufactures). The quantity of cotton yarn
exported during the period was 445,403 tons — 6.54% more than in July-April,
In absolute terms, the accrual in dollars from its export
amounted to $878.55 million. But this is only 0.39% more than what it fetched
during the same period last year. This was because it was exported for price
lower by 5.77%, as compared to July-April 1999-2000. Probably for this reason,
its share in the export figure for textile manufactures eased to 18.81% during
July-April 2000-01 as against 19.30% during the corresponding period of previous
The volume of cotton fabrics exported in the current year so
far was higher by 9.24%. But the accrual in foreign exchange therefrom (834.04
million) was minus 7.77%.
Exports up by 7.55%
Merchandise exports of Pakistan went up by 7.55 per cent to
$7.45 billion during July-April in comparison to the corresponding period of
This, according to trade statistics released by the Federal
Bureau of Statistics on Wednesday, still leaves short of the export target by
about $2.55 billion.
As the monthly exports have averaged $745.60 million, it is
now certain that the target, this year again, would remain unfulfilled. In order
to achieve the target, the exporters will have to improve their performance by
exporting goods at the rate of $1.27 billion at the minimum.
On the positive side, the FBS statement shows a 0.89 per cent
decline in trade deficit for the 10-month period under review. It amounted to
$1.39 billion, as compared to $1.41 billion during the corresponding period of
Textile machinery import valuation up
An 89 per cent increase in the import valuation in dollar
terms, of textile machinery in last ten months, reflects the consolidating
efforts now under way in the key sector termed as the 'mainstay' of Pakistan's
Official figures give total import value of textile machinery
during July 00 to April 01 at $294.64 million as against about $195 million in
same period of last fiscal. In rupee terms, the import valuation of textile
machinery is more than 111 per cent as its worth is more than Rs17 billion.
Significance of mentioning textile machinery import in rupee
terms is that many textile operators complained of being denied the foreign
exchange facility for import. Obviously, many of these textile manufacturers had
to arrange foreign exchange to finance textile machinery import from the market
which pushed the dollar price up.
EPB strategy to earn $14.124n
The Export Promotion Bureau (EPB) has evolved a six-point
strategy for achieving minimum $14.124 billion in exports by year 2002-03. While
reviewing the arrangement, Chairman EPB , Tariq Ikram who is the architect of
the document emphasized on the need to shift from 'supply led' efforts to
'demand led' export growth in coming years.
Based on an evaluation of the world demand of goods and
services, the plan aims at prioritizing those areas where, Pakistan has or is
capable of achieving a competitive edge either sourced from within or outside
Rice exports fetch $358.7mn
Pakistan has exported 1.636 metric tonnes rice worth more
than $358.7 million during July-April of current fiscal year. The convener of
Rice Export Association of Pakistan (REAP) Akbar Ali Hashwani on Monday said the
export of Irri-6 was recorded at 1.125 million tonnes during the 10 months of
He said the export of Irri-9 stood at 83,549 tonnes, during
the same period. The export of basmati rice including super basmati (extra long
grain) has significantly contributed to the overall increase in rice export.
The export of super basmati was estimated at 144,931 tonnes
and basmati-385 stood at 138,571 tonnes till April 30.
Textile quota issue
The on-going negotiations between Pakistan and European Union
(EU) on lifting of textile export quotas has so far caused Rs500 million loss to
the government revenue because of sharp fall in premium price as well as
extremely poor response of exporters to quota auctions, exporters said on
In last two months of present fiscal, the export trade is
confronted with an uncertainty as exporters, who have huge investment in textile
quota, are all out to lessen their quota holdings. As a result of this
development, the prices of even 'hot cake' quota categories in the open market
as well as growth quota held by government have sharply declined, making huge
losses to exporters as well as national exchequer.