Petroleum, machinery and food dominate $30.540 billion imports

Petroleum, machinery, food, agriculture and chemical, metals and transport groups are the heavy weights in country''s more than $30.540 billion imports during fiscal year 2006-07. According to the data of Pakistan''s external trade compiled by the Federal Bureau of Statistics released here on Saturday.
Import recorded a rise of 6.85 percent during July-June 2006-07 over last year''s $28.580 billion. Exports also recorded a minimal rise of 3.40 percent to $17.011 billion during July-June 2006-07 compared to last year''s $16.451 billion.
The yawning trade gap has touched $13.528 billion due to rising imports during the last fiscal year. Pakistan imported petroleum products worth $7.339 billion during July-June of 2006-07 including $3.733 billion of petroleum items and $3.606 crude oil.
Machinery imports stood second in the list amounting to $6.605 billion, followed by import of fertilisers, pesticides, plastic goods and medicines worth $4.385 billion during the period under review. Palm oil, sugar, pulses and tea were dominant in food group imports which was valued at $2.711 billion during July-June of last fiscal year.
Similarly, iron and steel and its scrap secured lion share in the import of metal group. Transport group imports stood at $2.364 billion during last fiscal. Textile group imports surged by 21.28 percent to $1.556 billion during the period under review.
Exports during June, 2007 amounted to Rs 94.436 billion as against Rs 97.457 billion in May, 2007 and Rs 90.849 billion during June, 2006 showing a decrease of 3.10 percent over May, 2007 but an increase of 3.95 percent over June, 2006. In terms of dollars the exports decreased by 3.03 percent in June, 2007 $1.557 billion when compared with May, 2007 $1.606 billion but increased by 3.15 percent as compared to June, 2006 $1.510 billion.
Exports during July-June, 2006-2007 totalled Rs 1.031 trillion as against Rs 984.841 billion during the corresponding period of last year showing an increase of 4.73 percent. Imports into Pakistan during June, 2007 amounted to Rs 169.551 billion as against Rs 166.867 billion in May, 2007 and Rs 179.659 billion during June, 2006 showing an increase of 1.61 percent over May, 2007 but a decrease of 5.63 percent over June, 2006.
In terms of dollars the imports increased by 1.69 percent in June, 2007 $2.797 billion as compared to May, 2007 $2.750 billion but decrease by 6.35 percent as compared to June, 2006 $2.986 billion. Imports during July-June, 2006-2007 totalled Rs 1.851 trillion as against Rs 1.711 trillion during the corresponding period of last year showing an increase of 8.22 percent.
Based on the provisional figures of imports and exports the balance of trade in June, 2007 was (-) 75,115 million in terms of Rupees and (-)1,239,006000 in US dollars. The balance of trade figures cumulative from July-June, 2006-2007 were (-) 820,388 million in terms of Rupees and (-)13,528,762000 in US dollars.