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$783m deficit in July-December external trade

JAVED MEHMOOD

ISLAMABAD: Pakistan has braved $783 million trade deficit in the first half of current fiscal that is higher by 38.9 percent compared with $563 million deficit in the corresponding period of the last fiscal.

According to the provisional trade data released here on Tuesday, exports of the country amounted to $4,102.731 million from July 1999 to December 1999, showing 7.42 percent increase and imports ended at $4,885.791 million, depicting 11.47 percent improvement during this period.

In the 'primary commodities' group, the exports of rice increased by $28.887 million (14.15 percent), raw cotton by $7.527 million (420.27 percent), fish and fish preparations $12.368 million (20.20 percent), guwar and guwar products $6.176 million (54 percent), fruits $4.038 million (14.53 percent) and vegetables $5.537 million (32.65 percent). In this group the exports of raw wool declined by 54.47 percent, leather by 15.23 percent, crude animal material 14.72 percent and oil seeds, nuts and kernels fell by 60 percent in six months.

The textiles sector attracted $190.60 million additional foreign exchange during July-December of 1999-2000 fiscal, showing 7.65 percent growth as compared with the corresponding period of 1998-99. Exports of cotton yarn improved by $35.557 million (7.86 percent), cotton fabrics $16.914 million (3.18 percent), knitwear $37 million (9.67 percent), bed-wear $49.962 million (16.69 percent), ready-made garments $34.953 million (10.21 percent), while tarpaulin and canvas goods marked 13.96 percent growth, and tule, lace embroidery 106.29 percent, synthetic textile fabrics 0.49 percent and other textile made-ups (excluding towels and bed-wear) $18.72 percent. During this period towels exports fell by 13.82 percent, cotton bags/sacks decreased 10.39 percent and waste material of textile fibres/fabrics declined 3.16 percent.

Export of carpets increased by $19.759 million (22.20 percent), petroleum and petroleum products $21.465 million (140.76 percent) sports goods 6.96 percent surgical and medical instruments nine percent, cutlery 14.78 percent, onyx manufactures 44.24 percent, chemicals and pharmaceuticals 44.39 percent and molasses 21.22 percent.

In the month of December 1999, the external trade of carpets surged by 11.50 percent, raw cotton 993 percent, guwar and guwar products 56.06 percent, cotton yarn 4.06 percent, cotton fabrics 10.9 percent, towels 7.07 percent, petroleum and its products 168 percent, sports goods 8.43 percent, surgical and medical instruments 19.59 percent, onyx manufactures 37.44 percent, chemicals and pharmaceutical products 41.50 percent, molasses 57.02 percent and other items 70 percent.