Exports post over 6.5 percent negative growth

The country's exports have posted over 6.5 per cent negative growth in March 2020 to $ 1.847 billion as compared to $ 1.976 billion in the corresponding month of 2019 as the Coronavirus factor has started hitting the exports.
However, exports during the first three quarters i.e. July-March 2019-20 showed a growth of 2.4 per cent to $ 17.491 billion as compared to $ 17.083 billion during the same period of fiscal year 2018-19.
The statistics indicate that growth in exports during July-January 2019-20 posted growth of 2.2 per cent, and rose to 3.6 per cent during July-February 2019-20 as compared to the same period last year.
The sources said, since all markets of US, EU, China, UAE and Afghanistan are shut which are key destinations of Pakistan's exports.
According to sources, exports were down by 54 percent during the last four days i.e. from March 27 to March 31, of which the share of men's garment was 66 per cent, cotton fabrics by 58 per cent, cotton yarn by 74 per cent and fish 81 per cent.
Exports during these days were down by 64 per cent to USA, 72 per cent to UK, 78 per cent to Germany 78 per cent, China 67 per cent, Netherlands 82 per cent and Afghanistan 100 per cent as border with Afghanistan is closed.
The export of garments, apparel and home textiles were reduced by 61 per cent, textiles( fabrics, yarn, carpets 63 per cent), plants products ( rice, fruits, & vegetables, wheat by 23 per cent. Medical or surgical instruments, chemicals( pharma, tanning agents, soaps, toilteries, plastic and its articles, sports goods, furniture, lighting, oil seeds and gums, footwear, iron and steel were also hit.
Pattern in Chief of PLGMEA, Fawad Ijaz Khan told Business Recorder that he called Commerce Advisor on Commerce on Thursday evening and discussed different issues with him.
According to him, Razak Dawood said that he has sanctioned Rs 20 billion for both textile and non-textile DLTL. Dawood further stated that he would look into time barred non textile DLTL claims.
"I requested Razak Dawood to call Chief Minister Sindh to allow Karachi-based industry to open like Punjab," he continued.