TRADE

 

July 15 - 21, 2002

 

1.INTERNATIONAL

2. INDUSTRY

3. FINANCE

4. POLICY

5. TRADE

6. GULF

 

MANUFACTURED GOODS EXPORTS FETCH $8.32BN

The contribution of manufactured and semi-manufactured goods in exports rose to 91.24 per cent in 2001-02, as compared to 89.68 per cent during the preceding year, according to an analysis of foreign trade data released by the Federal Bureau of Statistics on Tuesday.

 

Foreign exchange earnings from manufactured goods exports stood at $8.32 billion out of the total exports figure of $9.12 billion.

This was accounted for by textile manufactures exports ($5.80 billion) to the extent of 69.71 per cent. Although 0.69 per cent more than during the preceding year, the figures reinforce the fact that the textile industry the mainstay of our exports has yet to outgrow its stagnation. This is quite clear from the fact that in 2000-01, the share of textile manufactures in total exports was slightly higher - 69.82 per cent.

Cotton cloth retained its position as the No. 1 export item among textile manufactures. Its exports totalled $1.96 billion, 9.70 per cent more than in 2000-01. But the quantity of cotton cloth exported during the year under review was even higher - 12.76 per cent.

The next biggest export item was cotton yarn. Quantitatively, its export (5,44,217 tons) was lower by 0.17 per cent, but in terms of dollars, there was a loss of 12.22 per cent. The foreign exchange it fetched amounted to $942.35 million.

The decline in unit price is evidently a well-established feature of foreign trade, as the analysis of figure shows. By contrast, value-added textile manufactures showed a mixed trend. Among these, exports of knitwear, tents, canvas and tarpaulin and art. silk & synthetic textile declined by 7.66 per cent, 3.59 per cent and 24.81 per cent respectively. However, the items whose exports surged significantly during 2001-02 were: bedwear (23.31pc), towels (11.64pc), readymade garments (6.68pc) and madeup articles (6.19pc).

DIRECT MANGO EXPORTS TO SWEDEN SOUGHT

Prospects of enhancing mango exports to Sweden through direct shipments are strong. Sweden imported 565,945 tons of fresh fruits worth around $452 million in 2001 , which mostly originated from the Netherlands, Italy, Spain, Panama, Germany, Belgium, France and the US.

Whereas Pakistan exported 268,741 tons of fruits and vegetable worth $79.83 million during 2001, out of this vegetable exports stood at $22.50 million and mango share was 53,443 tons valuing $16.54 million.

OIL IMPORTERS GAIN $216M FROM FALL IN PRICES

Although rates of petroleum products were raised nearly a dozen times for the people of Pakistan, the importers gained over $216 million from the decline in import prices of crude oil during 2001-02.

According to the import statistics of the Federal Bureau of Statistics, the country imported 713,201,7 tons crude oil at the average rate of $172.45 per ton as against $198.46 which was the average import price during 2000-01.

GOVT MAY BAN IMPORT OF SUGAR

The government is expected to ban import of sugar both raw and refined in view of surplus stocks, declining prices trend and expected low sugarcane cultivation next season.

Official sources told that sugar situation was on the agenda of the Economic Coordination Committee (ECC) of the cabinet as the growers and the sugar industry had indicated looming sugar crisis.

EXPORT FINANCE FACILITY

"Fisheries sector will be facilitated in availing export re-finance scheme of the State Bank so that fisheries community can obtain loans at softer interest."

This was decided on Monday during a meeting chaired by Khair Mohammad Junejo, Federal Minister for Food, Agriculture and Livestock.

SRI LANKA HOPES FOR FREE TRADE PACT

Sri Lanka expressed the hope on Monday that a free trade agreement (FTA) with Pakistan would be in effect by September. "Our target should be to conclude the FTA within the time-frame stipulated (by September)," said Ravi Karunanayake , Sri Lanka's minister of consumer affairs.

LEATHER GOODS EXPORTS TO US

Chairman, Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA), Fawad Ijaz Khan and executive board members held a meeting with minister-designate (trade) to Pakistan embassy in US, Ashraf Mohammad Hayat.

The purpose of the meeting was to discuss the problems being faced by the leather garments exporters in the US market, and to devise a strategy to boost exports to the US.

The chairman, PLGMEA, said that the US is the biggest market for Pakistan leather garments with exports stood around $67 million in 2000-2001. This accounts for nearly 18 per cent of total leather garments exports.

TRADE DEFICIT

Commerce minister Abdul Razak Dawood on Saturday said the country's trade deficit during the fiscal 2001- 02 stood at $1.2 billion as compared to the previous year's trade deficit of $1.5 billion.

Speaking at a press conference, the minister said the exports during the last financial year were $9.124 billion, about nine per cent less than the original target of $10.1 billion for the year. He said total imports were recorded at $10.3 billion.

SYNTHETIC YARN IMPORTS UP BY 25PC

Pakistan's textile sector imported synthetic fibre and yarn worth $145.9m during the last year to meet the increasing world demand for the blended fabrics and to earn more foreign exchange.

According to official sources the import figure reflects an increase of 25 per cent over the last year's comparable figure of $116.558m.