Exports may hardly reach $24 billion mark

Pakistan's exports may hardly reach 24 billion dollars during the current financial year against the estimated target of 26 billion dollars. The exports figures this year are also likely to remain below 24.8 billion dollars exports recorded during 2010-2011.
According to available statistics, Pakistan has exported goods worth 21.53 billion dollars during the last 11 months with the reduction 3.8 percent. The inflation reduced in demand of textile made-ups in the international markets, what sources claimed, were the main factors of slow down in the country's exports.
Despite tall claims of diversifying products of exports and search of new markets, the concerned authorities here have failed to even maintain the growth in exports. Besides no major step has been taken by the government for product development which is needed to tap more markets abroad. The cumulative trade figure shows that Pakistan's exports during July-May were 21.53 billion dollars, while in the corresponding period of the last fiscal year, exports were 22.39 billion dollars. Imports during July-May 2011-12 were 40.93 billion dollars as compared to 36.55 billion dollars during the same period of the year 2010-11, registering a 12 percent growth.
Pakistan's balance of trade has however improved by 13 percent in May 2012 over the same month last fiscal year. During May 2012 trade deficit was 1.7 billion dollars while it was 1.99 billion dollars in May 2011. On the other hand Pakistan's exports during May 2012 were valued at 2.16 billion dollars which was 5.96 percent lower than the level of 2.3 billion dollars during May 2011. Imports during May 2012 were valued at 3.89 billion dollars registering a decline of 9.3 percent over the imports of 4.29 billion dollars in May 2011.