20000109

Exports depict

persistent rise

in first six

months of '99-2000

ISLAMABAD: Country's exports have shown a persistent rise in the first six months, making it most likely to cross the export target of $9 billion during the current fiscal year, official sources said here on Saturday.

In the first six months of the year 1999-2000, the exports have registered increase of 7.4 percent to $4103 billion over that of $3819 billion of exports in the same period of last year.

In the month of December the surge in exports is 8.12 percent as against decline in imports by 2.2 percent over the preceding month.

In the month of November, the exports recorded increase of 14.1 percent over that of the preceding month (October).

Upto September, the exports recorded an increase of 5.3 percent, followed by an increase of 6.3 percent in the month of October.

"The exports are persistently showing an increasing trend and if it continues, we are expected to cross $9 billion of exports by the end of the current fiscal year," the sources said.

In coming months, exports will certainly pick up mainly on the back of textile products and exports of rice and fresh vegetable, the sources said, adding, we also have a surplus of onion, potato, sugar etc., this year.

Responding to a question, the sources said, country is expected to export around 2.5 million of cotton bales, which will be an additional earnings as last year not a single bale could be exported.

There are visible signs of increase in certain categories of exports which have vast potential to make a real breakthrough in efforts of the government to boost exports and narrow down the trade gap.

For instance, in first five months, the exports of ready-made garment to quota and non-quota countries has increased by 11 percent.

According to the Export Promotion Bureau (EPB) ready made garments is one of the high value product of export in the textile as it carries value addition of over 500 percent as compared to export of yarn.

The main items of exports are shirts, blouses, skirts, trousers, shorts, night wear and pajama, coats (women and girls) and other winter outwear.

In the non-traditional sector, the government is hopeful that among others, fresh fruits and vegetables exports will also increase this year.

To a question, the sources said, a multi-facet strategy is being worked out to arrest the trade gap by boosting exports.

In this respect, the sources said, efforts are being made on the import substitution side also.

Restructuring of (EPB) is also on the anvil including appointment of its new chairman which is expected to post tangible improvement in exports growth, sources added.ÑAPP