Exports surge 22pc to Rs2,110bn in 7MFY20

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ISLAMABAD: The country’s exports in rupee term have surged by 22.11 per cent during the first seven months of the current fiscal year compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported on Friday.

The exports from the country during July-January (2019-20) were recorded at Rs2110.426 million against the export of Rs1728.346 million during July-January (2018-19), showing a growth of 22.11pc.

On year-on-year basis, the exports increased by 8.44pc to Rs305.986 million during January 2019 compared to the exports of Rs282,179 million in the corresponding month of 2018, official PBS statistics show.

The exports on month-on-month, however, fell by 0.88pc during January 2020 when compared to the export of Rs308.697 million in December 2019.

Major commodities exported during January this year were readymade garments (Rs41,597 million), knitwear (Rs37,891 million), bed-wear (Rs30,016 million), cotton cloth (Rs27,168 million), cotton yarn (Rs14,789 million), towels (Rs10,093 million), fruits (Rs9,722 million), rice basmati (Rs9,703 million), rice others (Rs18,310 million), and made-up articles excluding towels and bed-wear were (Rs8,608 million).

On the other hand, the imports into the country during July-January FY20 touched Rs4,272,554 million as against the import of Rs4,224,292 million during the corresponding period of last year, showing a slight increase of 1.14pc.

Imports into Pakistan during January this year amounted to Rs639,572 million as against the import of Rs619,586 million in January 2019 and Rs625,463 million in December 2019, posting an increase of 3.23pc over January 2019 and 2.26pc over December 2019.

Main commodities of imports during January 2020 were petroleum products (Rs65,067 million), crude petroleum (Rs48,403 million), electrical machinery and apparatus (Rs35,815 million), natural gas and liquefied gas (Rs34,530 million), plastic materials (Rs27,145 million), palm oil (Rs24,593 million), iron and steel scrap (Rs22,772 million), mobile phone (Rs22,338 million), raw cotton (Rs16,720 million), and iron and steel (Rs16,021 million).

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