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Negative trade balance peaks as imports grow faster than exports

06
Nov '08
According to the provisional figures compiled by the Federal Bureau of Statistics, exports from Pakistan during September 2008 amounted to Rs.137.31 billion (provisional) as against Rs.117.68 million (provisional) in August 2008 and Rs.90.01 billion in September 2007 showing an increase of 16.68 percent over August 2008 and of 52.55 percent over September of last year.

In US dollars terms exports increased by 12.34 percent in September 2008 to reach US $1.77 billion (provisional) when compared with $1.58 billion (provisional) in August 2008 and grew by 19.88 percent when corresponded with $1.48 billion achieved in September 2007.

Exports during July-September 2008 totaled to Rs.389,507 million (provisional) as against Rs.267,520 million during the corresponding period of last year showing an increase of 45.60 percent. In US dollar terms exports during July-September 2008 fetched $5.26 billion (provisional) as against $4.42 billion during the corresponding period of last year, resulting in a growth of 19.19 percent.

Main commodities exported in September 2008 were Cotton cloth (Rs.14,166 million), Knitwear (Rs.13,190 million), Bed wear (Rs.12,451 million), Cotton yarn (Rs.7,922 million), Readymade garments (Rs.7,713 million), Art, silk & synthetic textile (Rs.5,514 million) and Towels (Rs.4,743 million).

Imports into Pakistan during September 2008 amounted to Rs.293,760 million (provisional) as against Rs.257,186 million (provisional) in August 2008 and Rs.165,835 million during September 2007 showing an increase of 14.22 and 77.14 percent August 2008 and September 2007 respectively.

In US dollar terms imports increased by 9.97 percent in September 2008 to touch $3.80 billion (provisional) as compared to $3.46 billion (provisional) in August 2008 and rose by 39.20 percent when contrasted with $2.73 billion reached in September 2007.

Imports during July-September 2008 totaled to Rs.801,532 million (provisional) as against Rs.487,547 million during the corresponding period of last year showing an increase of 64.4 percent. In US dollar terms imports during July-September 2008 appropriated to $10.8 billion (provisional) as against $8.05 billion during the comparative period of the previous year, thereby, marking a growth of 34.29 percent.

Based on the provisional figures of imports and exports the balance of trade in September 2008 stood at a negative Rs.156,441 million and $2.02 billion in US dollar terms. Cumulative figures for negative balance of trade in the period July- September 2008 reached Rs.412,025 million in terms of Rupees and $5.54 billion in US dollar terms.

Fibre2fashion News Desk - India


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