RajaRawal111
Prime Minister (20k+ posts)
Exports of non-textile products rebounded and posted a growth of 13.6 per cent during the first four months (July-October) of the current fiscal year from a year ago.
The export proceeds from these products surged to $2.66 billion between July-October from $2.34bn over the corresponding period of last year, suggested data compiled by Pakistan Bureau of Statistics.
The export proceeds from the sectors were falling persistently since July 2014.
The rebound in export proceeds apparently is due to the support package the government has extended to non-textile sector under the prime minister exports enhancement package.
In the export package, the commerce ministry has separately announced additional incentives for non-textile products.
The support was announced for leather manufacturers, footwear, sports goods, surgical, engineering goods, furniture, meat and meat products, fish products and cutlery.
Data show an increase of 80.4pc year-on-year in exports of petroleum products. Petroleum products, petroleum crude and naphtha, led the increase in petroleum sector’s exports.
Last year, exports of these products witnessed a negative growth.
Exports of carpets and rugs witnessed a negative growth of 10pc during July-October period of the current fiscal year from a year ago.
However, sports goods exports dipped slightly by 0.14pc year-on-year during the months under review. Foreign sales of footballs were up by 7.68pc.
Tanned leather exports witnessed a negative growth of 4.27pc in July-October from a year ago.
Leather products’ exports declined by 9.5pc during the period under review.
All value-added leather products posted a growth of 2.48pc in exports proceeds in July-October. This growth was mainly led by sales of leather gloves.
Footwear exports fell by 3.82pc during the period under review.
This is the only sector which has the potential of growth, but exports from the sector was facing strong competition especially from Chinese exporters in European market despite preferential market access.
Exports of surgical goods and medical instruments went up by 12.8pc and engineering goods surged by 18.47pc during the period under review over last year.
Year-on-year exports of gur (jaggery) was up by 48pc, and molasses 911pc during the period under review. However, the exports of cement fell by 48.57pc, handicrafts 100pc, furniture 6pc, and jewellery 57pc during the first four months of the current fiscal year from a year ago.
In the food basket, exports of rice witnessed a decline of 9.85pc in the first four months of the current fiscal year from a year ago.
The increase was witnessed in exports of both basmati and non-basmati rice, which went up by 16.87pc. Exports of sugar and wheat are the other two major exports commodities which recorded a growth during the period under review.
Other products which also posted growth during the period under review are oil, fish, seeds, pulses and tobacco.
Published in Dawn, November 26th, 2017
