September 9, 2003	Tuesday	Rajab 11, 1424

ISLAMABAD, Sept 8: Pakistan’s trade deficit with China has expanded significantly in the last five years from $245.512 million in the year 1998-99 to $ 594.465 million in 2002-03.

Officials told Dawn on Monday the consistent increase in the trade deficit with China was due to ever increasing quantum of import of machinery, machinery parts, textile and chemical products from China.

They said the value of import bill of machinery was $97 million in 1998-99, which increased to $276.343 million in 2002-03.

Official statistics made available to Dawn on Monday showed that Pakistan’s trade deficit with China stood at $245.512 million during the year 1998-99; $291.201 million in 1999-2000; $225.781 million in 2000-01; $346.588 million in 2001-02 and $594.465 million in the year 2002-03.

Pakistan exported $244.591 million worth of goods to China in 2002-03 against $228.631 million worth of goods exported in the previous year, showing an increase of 6.98 per cent, while imports from China rose by 45.86 per cent during the year under review to $839.056 million against $575.219 million in the previous year.

Pakistan’s major export to China was cotton yarn, which declined by 0.6 per cent to $107.607 million in 2002-03 against $108.258 million in the previous year.

Further product-wise analysis showed that Pakistan exported fish and fish preparations worth $18.120 million in 2002-03 against $7.454 million in the previous year, an increase of 143 per cent; hides, skins and fur skins worth $14.243 million against no exports in the previous years; chemical elements and compounds worth $33.420 million against $24.852 million in the previous year, an increase of 34 per cent.

Exports of ores and concentrates of iron and steel declined by 14 per cent to $3.665 million in the year under review against $4.304 million in the previous year, cotton fabrics exports declined by 11.89 per cent to $48.481 million against $55.029 million in the previous year.

China’s major exports to Pakistan were-$9.20 million worth raw cotton in 2002-03; $80.405 million worth chemical elements and compounds; $22.348 million dyeing, tanning and colouring materials; $12.348 million medicinal and pharma products; $11.579 million fertilizers manufactured; $57.912 million chemical materials and products; $19.588 million tyres and tubes of rubber; $11.997 million yarn and thread of synthetic fibres; $8.034 million synthetic fabrics; $7.108 million special textile fabrics; $8.781 million construction materials including cement; $14.979 million glass and glassware; $40.581 million iron, steel and manufactured thereof; $16.482 million manufactured of non-ferrous metals; $11.458 million manufacture of base metals; $21.343 million road vehicles and equipment; $36.199 million aircraft equipments; $8.216 million footwear and $9.533 million sports goods and toys.