Textile and Food sectors which have exhibited dramatic growth in exports has helped in pushing overall exports over the $22 billion mark during the last 11 months.
A group-wise export of Pakistan during May 2011 has shown a rapid growth in Textile and food sector as compared to the growth made by these two sectors during the corresponding month of last fiscal year. According to the latest statistics provided by Trade Development Authority of Pakistan, textiles was the major export sector which, having 55 per cent share in total exports, recorded 46.23 per cent growth over the same month of last year. Export of food items grew by 66.24 per cent. On the other hand, growth in manufacturing sector decreased by 2.6 per cent and Petroleum group by 11.7 per cent.
Consolidated export figures for July-May period shows that textile sector was the driving agent in reaching this level of export. Cotton Cloth and Knitwear were the top export products and their export grew by 40.6 per cent and 30 per cent, respectively. Cotton yarn, rice, bed wear, and readymade garments were the items which have each crossed the $ 1.5 billion mark during the 11 months of the fiscal year 2010-11.
Among them, rice export decreased slightly by 0.7 per cent.
Export of Chemicals grew by 24.2 per cent, Petroleum products by 41.2 per cent, Towels by 11.1per cent and Art silk and Synthetic textile by 50.9 per cent.
Apart from the commodity wise details, Pakistan’s exports, first time ever in the country’s history, have crossed the $ 22 billion mark in the first 11 months of the current financial year.
According to the latest trade figures, exports from Pakistan during May 2011 were $2.3 billion, which is 32 per cent higher than that of May of last year. The cumulative exports for the period July-May 2011 totaled $22.412 billion, as against $17.509 billion during the corresponding period of last year, showing an increase of 28 per cent.
Exports hit $2.3b in May
