The main contributors to the decline in this group's
imports were office machines, including computers ($33.72 million),
textile machinery ($73.98 million), construction machinery ($13.90
million), and others ($134.77 million). These items registered a
negative growth of 2.83pc, 3.85pc, 17.43pc and 7.64pc, respectively, as
compared to the same period of previous year. Roadmotor vehicles, on the
other hand, remained as strident as ever with imports of $89.68 million,
representing the highest tab among all categories except others. The
imports in this category surged by 18.35pc.
Besides, the imports of power generating machinery
($46.56 million) and electrical machinery and apparatus ($35.08 million)
rose by 7.26pc and 8.93pc, respectively, during the period under review.
This group, on the top in terms of import bill ($466.95 million), showed
7.60pc decline during the period July-August 2003. The petroleum
products within this group plummeted by more than a quarter to stand at
The vertical fall in this group as a whole was,
however, offset to a significant extent by 11.74pc increase in import of
petroleum crude (271.23 million). The quantity of petroleum crude
imported during the period under review was 1,320,177 tons — 3.77pc
more than in July-August 2002. Petroleum crude thus accounted for
13.40pc of total imports, that is, 0.60pc more than during the same
period of previous year.
EXPORTS TO SAUDI ARABIA UP BY 44PC
Saudi Arabia's imports from Pakistan during the
fiscal 2002-03 went up to $477 million as against $330 million last
year, showing an increase of 44 per cent over the fiscal 2001-02 and 75
per cent over 2000-01, just released data indicates. During the period
under review, the global exports from Pakistan grew by 21 per cent.
As per sector-wise details available, during the
outgoing financial year, export of bedwear to Saudi Arabia from Pakistan
went up by 51 per cent, garments 66pc, synthetic textiles 111pc, cotton
fabrics 41pc, tents and canvas 12pc, towels 44pc, engineering goods 27pc
and even rice exports to the Kingdom grew by 26pc.
Incidentally, rice exports from Pakistan, which has
been on decline for last 12 years, appear to have regained some of the
lost market. For the first time rice exports went up from $27 million in
the fiscal 2001-02 to $34 million in 2002-03. According to market
sources, Pakistan's rice exports started to gain during the second half
of the fiscal year, starting this January.
FINISHED ITEMS EXPORT UP BY 12.9PC
Finished goods exports ($1780.81 million) surged by
12.99 per cent in July-August 2003, raising their share in overall
exports to 92.50 per cent as against 91.66pc during the same period of
previous year. The overall exports during the first two months of
2003-04 stood at $1925.14 million, up 11.96pc from July-August 2002.
The major contribution to this figure was, however,
made by the textile manufactures whose exports stood at $1301.97
million, recording an increase of 12.81pc over the previous year, as
revealed in the foreign trade statistics released by the Federal Bureau
of Statistics. These accounted for 67.58pc of total exports, up 0.51pc
from the same period of previous year. As a proportion of finished goods
exports, their share stood at 73.06pc. As compared to previous year,
however, this figure shows a slight decline of 0.11pc.
TCP AGREES TO IMPORT RAW MATERIAL
The Trading Corporation of Pakistan (TCP) has agreed
in principle to import bulk quantity of raw materials for the regular
supply to small and medium enterprises to reduce their production
costs.This assurance was given by TCP authorities to the Union of Small
and Medium Enterprises (Unisame) during a meeting at the corporation's
FISH EXPORT RISES IN AUG
Fish export during last month has shown increase in
quantity but it has fetched slightly less amount than what was earned in
August last year. Fish traders consider this small decline in fish
export proceeds as insignificant and normal business fluctuations rather
than any other reason.
PAKISTAN TO BENEFIT FROM CHINA PROTOCOL
Three special provisions in the Chinese Protocol of
Accession to the World Trade Organization (WTO) provide enough
safeguards for Pakistan's textiles exports in the EU, the US and Canada
from where textile export quotas will be dismantled by December 2004.
With a production capacity of 20 per cent of world textile garment
export, China now competes head to head with virtually every textile
producing and exporting country that included India, Vietnam, Mexico,
Bangladesh, Indonesia and Pakistan.
Pakistan's trade deficit with China has expanded
significantly in the last five years from $245.512 million in the year
1998-99 to $594.465 million in 2002-03.
The year 2005 will see the end of textiles quotas.
The quotas set out in the Agreement on Textiles and Clothing helped many
developing countries get a share of the world textiles trade. According
to a report, textiles account for a sizable part of world trade. In
2002, textiles generated flows of around $382 billion, or six per cent
of world exports.