August 31, 2003	Sunday	Rajab 2, 1424

ISLAMABAD, Aug 30: Pakistan’s trade deficit with India declined by 30 per cent to $95.845 million during the fiscal 2002-03 against $137.294 million in the previous year.

Officials told Dawn on Saturday decrease in trade deficit was due to 43 per cent increase in exports to India during the year under review. While imports from India declined by 10.7 per cent during the same period.

They said decrease in the volume of trade deficit with India had occurred due to the suspension of air, train and bus services in December 2001 that resulted in lower trade between the two countries.

The volume of total trade between the two countries stood at $237.173 million during the financial year 2002-03 against $235.748 million in the previous year, an increase of 0.6 per cent.

Official statistics made available to Dawn showed that Pakistan’s trade with India which was in surplus in the year 1998-99 and stood at $27.807 million. During the last three years of the military government, the trade surplus turned into deficit and stood at $73.736 million in 1999-2000; $179.689 million in 2000-01, and $137.294 million in the fiscal 2001-02.

Pakistan’s exports to India stood at $70.664 million in the fiscal 2002-03 against $49.227 million during the previous year, an increase of 43 per cent.

Further break-up of the statistics showed that Pakistan exported goods worth $173.652 million to India during the year 1998-99, while Islamabad imported goods worth $145.845 million during the same period.

And Indian exports to Pakistan rose to $235.086 million during the year 2000-01 against imports of $55.397 million from Pakistan during the same period. While Pakistan’s exports to India further decreased to $49.227m in the fiscal 2001-02 against the imports of Rs186.521 million from India during the same period.

Product-wise major exports to India showed that Islamabad exported $21.343 million worth of fruits and vegetables during 2002-03 against $33.356 million in the previous year, showing a decline of 36 per cent; $1.282 million worth of wool against $0.762 million in the previous year, showing an increase of 68 per cent; $3.864 million worth of crude vegetable materials against $4.245 million in the previous year, a decline of 8.9 per cent; $1.431 million worth of cotton yarn against $2.351 million in the previous year, a decline of 39 per cent; $3.701 million worth of cotton fabrics against $3.315 million in the previous year, an increase of 11.6 pre cent; and $1.083m worth of made articles of textile materials against $0.835 million in the previous year, an increase of 29 per cent.

And India exported to Pakistan $4.763 million worth of tea and mate during the year 2002-03; $18.267 million worth of ore and concentrates of iron and steel; $59.529 million worth of chemical elements and compounds; $10556 million worth of dyeing, tanning and colouring materials; $16.444 million worth of chemical materials and products; $18.439 million worth of tyres and tubes of rubber; and $4.059 million worth of machinery and its parts.