KARACHI, June 5: Pakistan’s exports during July-May period of the current financial year stood at $8,710 million. The figure is 0.97 per cent less than the exports recorded in the corresponding period of 2000-01.

These figures are very encouraging, keeping in view the regional stability during the current fiscal year, slow growth in major export markets and impact of September 11 events, says an EPB press release issued here on Wednesday.

It says these figures look even more encouraging when compared with the IMF estimates for decline in exports of other Asian economies. Due to slow growth in the US and major European markets, exports of most of the countries in the Far East experienced declines ranging from 5pc to 15pc, according to IMF estimates.

The EPB release says Indian exports are expected to grow at a modest rate of 0.6 per cent but this is much below the growth rate of more than 19 per cent during the previous year.

The export performance during the first eleven months of the current financial year is testimony to the resilience of Pakistan’s economy, the release adds.