Exports increase by 8.48pc in 11 months

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ISLAMABAD: Pakistan’s exports increased by 8.48 per cent during the first eleven months of the current fiscal year compared to the corresponding period of the last fiscal year, according to data reported by the Pakistan Bureau of Statistics (PBS).

The exports from the country during July 2019 to May 2020 were recorded at Rs3,106,723 million compared to Rs2,863,885 million during the corresponding period of the last fiscal year, showing an increase of 8.48 per cent, according to provisional data released by PBS. 

However, on an Year-on-Year (YoY) basis, exports from the country decreased by 26.78 per cent in May 2020 compared to exports of May 2019. Exports in May 2020 were recorded at Rs223,536 million compared to the exports of Rs305,303 million during May 2019. 

On a Month-on-Month (MoM) basis exports increased by 42.01 per cent in May 2020 compared to the exports of Rs157,412 million in March 2020. 

The main commodities exported during May 2020 included knitwear (Rs28,962 million), bed wear (Rs23,380 million), readymade garments (Rs21,708 million), cotton cloth (Rs15,731 million), basmati rice (Rs13,128 million), cotton yarn (Rs8,324 million), towels (Rs6,668 million) and fish and fish preparation (Rs4,554 million).

On the other hand, imports during July 2019 to May 2020 totaled Rs6,421,012 million compared to Rs6,767,523 million during the corresponding period of last year showing a decrease of 5.12 per cent.

Imports into Pakistan during May 2020 amounted to Rs458,272 million compared to Rs526,880 million (provisional) in April 2020 and Rs730,962 million during May 2019 showing a decrease of 13.02 per cent over April 2020 and of 37.31 per cent over May 2019.

The main commodities of imports during May 2020 were electrical machinery and apparatus (Rs31,412 million), iron and steel (Rs23,205 million), palm oil (Rs21,591 million), petroleum products (Rs20,813 million), power generating machinery (Rs20,339 million), iron and steel scrap (Rs19,435 million), plastic materials (Rs18,991 million), mobile phones (Rs17,778 million), liquefied natural gas (Rs17,285 million) and raw cotton (Rs16,535 million).

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