ISLAMABAD: Pakistan's exports decreased by 6.81 percent during fiscal year 2019-20 and remained $21.394 billion as compared to $22.958 billion during the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) data revealed.
According to the PBS data, the country's imports during the fiscal year 2019-20 totaled $44.574 billion against $54.763 billion during the corresponding period of last year showing a decrease of 18.61 percent.
The balance of trade figures cumulative from July-June, 2019-20 were (-) 3,363,439 million in terms of rupees and (-) 23,180 million in US dollars. The government had set exports target of $26.2 billion for 2019-20, which is missed by around $4.8 billion.
The data further revealed that the country's imports witnessed massive increase of 29.9 percent in June, 2020, and remained $3.719 billion as compared to $2.863 billion in May, 2020, while exports witnessed 14.54 percent increase and remained $1.599 billion as compared to $1.396 billion.
According to the PBS, based on the provisional figures of imports and exports the balance of trade in June, 2020 was (-) 350,016 million in terms of rupees and (-) 2,120 million in US dollars.
According to the provisional figures compiled by the PBS, exports from Pakistan during June, 2020 amounted to Rs263.988 billion (provisional) as against Rs223.536 billion (provisional) in May, 2020 and Rs264.345 billion during June, 2019 showing an increase of 18.10 percent over May, 2020 but a decrease of 0.14 percent over June, 2019.
In terms of US dollars the exports in June, 2020 were $1.599 billion (provisional) as compared to $1.396 billion (provisional) in May, 2020 showing an increase of 14.54 percent but decreased by 6.11 percent as compared to $1.703 billion in June 2019.
Exports during July-June, 2019-20 totaled Rs3,369.809 billion (provisional) as against Rs3,128.230 billion during the corresponding period of last year showing an increase of 7.72 percent.
During 2019-20, food group registered 5.33 percent decline in exports, textile group 6.01 percent, petroleum group and coal 42.74 percent, other manufactures group 9.69 percent decline during 2019-20 compared to 2018-19.
Among the food group, 68.29 percent decline was registered in sugar exports, 92.53 percent in wheat, oil seeds 59.48 percent during 2019-20 compared to 2018-19.
Among the textile group 75.10 percent decline in exports of cotton carded or combed, 23.81 percent in yarn other than cotton yarn, 12.49 percent in cotton yarn and 16.64 percent decline in raw cotton exports was registered during 2019-20 compared to 2018-19.
Main commodities of exports during June, 2020 were knitwear (Rs36,549 million), readymade garments (Rs30,542 million), bed wear (Rs27,462 million), cotton cloth (Rs21,495 million), rice others (Rs17,043 million), cotton yarn (Rs12,271 million), towels (Rs9,727 million), basmati rice (Rs7,887 million), made-up articles (excl towels and bed wear) (Rs7,018 million), and fruits (Rs5,498 million).
Imports into Pakistan during June, 2020 amounted to Rs614.004 billion (provisional) as against Rs458.272 billion (provisional) in May, 2020 and Rs675.731 billion during June 2019, showing an increase of 33.98 percent over May, 2020 but a decrease of 9.13 percent over June 2019.
In terms of US dollars the imports in June, 2020 were $3.719 billion (provisional) as compared to $2.863 billion (provisional) in May, 2020 showing an increase of 29.90 percent but decreased by 14.56 percent as compared to $4.353 billion in June 2019.
Imports during July-June, 2019-20 totaled Rs7,033.248 billion (provisional) as against Rs7,443.253 billion during the corresponding period of last year showing a decrease of 5.51 percent.
In terms of the US dollars the imports during July-June, 2019-20 totaled $44.574 billion (provisional) as against $54.763 billion during the corresponding period of last year showing a decrease of 18.61 percent.
Overall machinery group imports witnessed 1.56 percent decline in 2019-2020 as compared to the same period of last year. Textile machinery imports witnessed 18.71 percent decline, agricultural machinery 30.69 percent, office machinery 12.88 percent and other machinery 30.87 percent decline during 2019-20 compared to the previous year.
However, power generating machinery witnessed 8.74 percent, electrical machinery, 26.41 percent, mobile phones 81.32 percent, and overall telecom 34.88 percent increase in imports during 2019-20 compared to the previous year.
Further, transports group registered massive decline of 49.9 percent in imports during 2019-20 compared to the same period of last year. Food group registered 4.31 percent decline in imports during 2019-20 compared to 2018-2019.
Milk cream and milk food for infants witnessed 29.22 percent decline in imports, dry fruits 20.36 percent, soybean oil 46.41 percent, and palm oil 0.17 percent decline in imports during 2019-2020 compared to 2018-19.
Main commodities of imports during June, 2020 were petroleum products (Rs48.627 billion), power generating machinery (Rs45.362 billion), mobile phones (Rs38.189 billion), natural gas liquefied (Rs27.336 billion), plastic materials (Rs25.271 billion), iron and steel (Rs22.589 billion), palm oil (Rs22.556 billion), petroleum crude (Rs22.296 billion), electrical machinery and apparatus (Rs22.108 billion), and medicinal products (Rs18.408 billion).
Copyright Business Recorder, 2020