January 10, 2003	Friday	Ziqa’ad 6, 1423

ISLAMABAD, Jan 9: Exports of manufactured goods surged by nearly 16.30 per cent to $4.71 billion during the period July-December 2002, over the corresponding period of previous year, according to foreign trade figures released by the Federal Bureau of Statistics here on Thursday.

As a fraction of total exports ($5.197 billion), however, manufactured goods exports indicated downward trend from 90.94% during July-December 2001 to 90.66% this year.

A noteworthy aspect of exports is 16.40% rise in exports of textile manufactures, which totalled $3.31 billion. Their contribution to total exports, nevertheless, dropped by 0.10% to 63.76% during the period under review. But as a constituent of manufactured exports, their share improved somewhat to 70.28%, up 0.16% from the previous year.

Within the textile manufactured group, the cotton yarn exports went up 2.69%, totalling 270,918 tons. But in terms of value, foreign exchange intake declined by 0.51% in dollars and by 6.28% in Pakistani rupee.

An increase of 12.47% is, however, reported in exports of cotton cloth (991.618 thousand square meters). In terms of value, however, this item fetched $627.16 million, that is, 20.08% more than during the same period of previous year.

But cotton yarn and cotton cloth are intermediate goods. Taken together, these accounted for 33.018% of total textile manufactures exports as against 35.24% during the first half of 2002-03.

By implication, the exports of finished textile products were on upward swing. This is true, particularly in respect of knitwear, bedwear, towels and art. Silk & synthetic textile whose exports (quantity-wise) soared by 32.99%, 32.31%, 9.27% and 7.55%, respectively. In value, the amounts that accrued to foreign exchange earnings of Pakistan were $544.09 million, $576.66 million, $146.77 million and $243.35 million, respectively.

However, tents, canvas & tarpaulin, a traditional export group, registered 0.62% decline (quantity-wise). The unexpected development, nevertheless, is a substantial drop in export of ready made garments (-12.85%). In spite of this, their export earnings ($522.04 million) increased by 20.48% over the previous year, indicating higher unit price fetched by these.

Another value-added item — made-up articles (including other textiles) — registered 3.64% drop in its export earnings ($164.83 million).

OTHER MANUFACTURES: This category constitutes a vagary of an era when the dollar. Its export proceeds totalled $969.29 million. This shows 6.09% growth over the corresponding period of previous year in dollars. In rupee however, (Rs 57.29 billion), it registered a loss of 0.12%.

Tanned leather and leather manufactures ($110.79 million and $210.76 million, respectively) accounted for 33.18% of the contribution of other manufactures, down from 36.75% of previous year.

Exports of sports goods surged by 12.76%. This was due to miscellaneous items only, because the exports of footballs and gloves declined by 7.19% and 3.59%, respectively.

Another group of exports which shows some promise is engineering goods with its contribution to other manufactures account moving up to $3.40%, denoting an increase of 0.90% over the previous year. The export earnings of this group (32.93 million) registered a growth of 44.07%.

Chemicals and pharmaceutical products group with exports worth $115.87 million, surged ahead with a growth rate of over 75%.

Times are not favourable to other traditional exports, e.g. carpets, surgical goods & medical instruments and molasses which declined (in dollars) by 9.34%, 1.21% and 43.49%, respectively.

The others category recorded a 45.58% spurt. With exports totalling $428.86 million, their share in total exports jumped from 6.59% to 8.25%.

PRIMARY COMMODITIES: Their exports totalled $485.5 million — 20.11% more than last year. Despite quantitative decline of 15.44%, rice scored an increase of 3.15% in dollars. The quantity of rice exported during the period under review was 720,563 tons.

The country also exported 31,896 tons of raw cotton. The figures show a decline in unit price to a significant extent — $768 per ton as against previous year’s $880 per ton.

Pakistan also exported 674,766 tons of wheat during the 6-month period under review which also saw significant decline in exports of fisheries, fruits and vegetables.