KARACHI – Pakistan’s textile exports, during July 2010 to January 2011, have seen a healthy growth of 25.9 percent, while food exports have surged by 13 percent compared to the same period in the last fiscal year. According to sources, the country’s export of textile and clothing, during the seven months of this financial year 2011, were recorded at $7450 million compared to the $5918 million achieved during the corresponding period of 2009-2010.
Analysis depict that growth in export figures was accompanied by an increase in import figures, especially in case of raw materials. Imports in January, 2011 were $3.44 billion, 3.7 percent higher than imports in January 2010. Imports, in July-January 2010-11, aggregated to $22.55 billion compared to $19.32 billion in the same period last year – a rise of 16.7 percent.
Analysis by the Trade Development Authority of Pakistan (TDAP) shows that the top 10 highest export value products, during July-January, were knitwear and cotton cloth – with exports of $1.3 billion. Other products, grabbing a significant share, were cotton yarn, bed wear and readymade garments. The top five export items, all from textiles, captured 45 percent of the total exports. The next top five export items, whose export value stood at over $340 million, were rice, rice basmati, towel, textile made ups (towels and bed-wears) and petroleum products. These top 10 items constitute 62 percent of the total exports.
Sources pointed out that Pakistan, who achieved record monthly exports of $2.329 billion in January 2011, has already posted exports of $13.23 billion in the first seven months of financial year 2010-11 compared to $10.78 billion in the corresponding period of last year – an increase of 22.7 percent. However, analysis claimed that growth in export figures was accompanied by an increase in import figures, especially in case of raw materials.
Petroleum products were among the top importing commodities. Other important import products included palm oil, other machineries, plastic materials and food items including sugar, iron, steel and power generating machineries. Import of sugar increased by almost 3.9 times, while import of power generating machinery decreased by 29 percent.
