Pakistan exports increase by 40.53pc to Rs1.04 trillion in 2 months

ISLAMABAD – The exports from the country in rupee term witnessed an increase of 40.53 percent during the first two months of current fiscal year (2022-23) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

The exports during July-August (2022-23) were recorded at Rs1,043,046 million as against the exports of Rs742,226 million in July-August (2021-22), showing an increase of 40.53 percent, according to provisional data released by PBS. On year-on-year basis, the exports from the country increased by 48.67 percent and were recorded at Rs548,326 million, against the exports of Rs368,814 million in August 2021. On month-on-month basis, the exports increased by 10.84 percent in August 2022 when compared to the exports of Rs494,720 million recorded in July, 2022.

The main commodities of exports during August, 2022 were knitwear (Rs99,362 million), readymade garments (Rs72,897 million), bed wear (Rs57,055 million), cotton cloth (Rs43,159 million), rice other than Basmati (Rs22,569 million), cotton yarn (Rs19,679 million), towels (Rs16,574 million), madeup articles (excl towels and bedwear) (Rs13,355 million), petroleum crude (Rs12,056 million) and rice Basmati (Rs9,179 million).

On the other hand, imports during July –August, 2022 totaled Rs2,436,754 million  as against Rs1,969,047 million during the corresponding period of last year, showing an increase of 23.75 percent. Imports into Pakistan during August, 2022 amounted to Rs1,341,024 million (provisional) as against Rs1,095,730 million in July, 2022 and Rs1,079,268 million during August, 2021 showing an increase of 22.39 percent over July, 2021 and of 24.25 percent over August, 2021.

The main commodities of imports during August, 2022 were petroleum products (Rs205,549 million), petroleum crude (Rs104,572 million), palm oil (Rs92,096 million), natural gas, liquified (Rs88,118 million), plastic materials (Rs46,649 million), wheat unmilled (Rs44,977 million), electrical machinery and apparatus (Rs43,114 million) iron and steel scrap (Rs34,396 million), raw cotton (Rs32,916 million) and iron and steel (Rs32,617 million).

Food commodities worth $725.024m exported in 2 months of FY2022-23

Different food commodities worth $725.024 million exported from the country during first two months of current financial year (2022-23), where as food items costing $1.783 billion imported as well to tackle with the domestic requirements.

Food group exports from the country during first two months of current financial year grew by 9.70 percent as compared the exports of the corresponding period of last year as different food commodities worth $725.24 million exported from the country during the period from July-August, 2022 as against the exports of $660.345 million of same period last year.

In last two months the exports of commodities which recorded positive growth included rice 0.73 percent, fish and fish preparations 52.07 percent, vegetables 53.12 percent, pulses 100 percent and exports of tobacco grew by 97.36 percent respectively.

The commodities that witnessed negative growth in their respective exports including Basmati rice 14.61 percent, fruits 27.97 percent, spices 14.03 percent, oil seeds and nuts decreased by 40.37 percent, according the data of Pakistan Bureau of Statistics (PBS).

On month on month basis, food group exports from the country during August, 2022 witnessed about 13.13 percent growth as compared the same month of last year. In August, 2022, different food commodities valuing $366.945 million exported as compared the exports of $324.349 of same month of last year.

Meanwhile, during the period under review, imports of food commodities into the country during first two months of current financial year witnessed about 21.04 percent increase as compared the same period of last year and country spent an amount of $1.783 billion on the import of food products as against the imports of $1.473 million of same period of last year. The commodities which recorded increase in their respective imports included wheat 1,787.31 percent, soyabean oil159.33 percent, palm oil 24.14 percent and pulses by 5.97 percent.

However, the imports of dry fruits decreased by 17.56 percent, tea 10.86 percent spices 46.48 percent and imports of sugar into the country by 97.90 percent. During the month of August, 2022 food imports into the country grew by 23.52 percent and was recorded at $1.020 billion as compared the imports of 826.018 million of same period last year.

Article source: https://www.nation.com.pk/20-Sep-2022/pakistan-exports-increase-by-40-53pc-to-rs1-04-trillion-in-2-months