RIYADH, Sept 11: Saudi Arabia’s imports from Pakistan during the fiscal 2002-03 went up to $477 million as against $330 million last year, showing an increase of 44 per cent over the fiscal 2001-02 and 75 per cent over 2000-01, just released data indicates. During the period under review, the global exports from Pakistan grew by 21 per cent.
As per sector-wise details available, during the outgoing financial year, export of bedwear to Saudi Arabia from Pakistan went up by 51 per cent, garments 66pc, synthetic textiles 111pc, cotton fabrics 41pc, tents and canvas 12pc, towels 44pc, engineering goods 27pc and even rice exports to the Kingdom grew by 26pc.
Incidentally, rice exports from Pakistan, which has been on decline for last 12 years, appear to have regained some of the lost market. For the first time rice exports went up from $27 million in the fiscal 2001-02 to $34 million in 2002-03. According to market sources, Pakistan’s rice exports started to gain during the second half of the fiscal year, starting this January.
Pakistan’s export to Saudi Arabia during the last five years registered an impressive growth. Now, Saudi Arabia is the 6th major export destination for Pakistani products. Five years earlier Saudi Arabia was at the 12th position in this regard.
In the fiscal 2002-03, 4.3 per cent of total Pakistan’s exports were marketed in Saudi Arabia. Analysis of the flow of exports over five years to Saudi Arabia shows that exports of readymade garments increased by 713pc, bedwear 471pc, footwear 350pc, machinery electrical/non-electrical 250pc, leather and leather products 200pc, synthetic textiles 179pc, towels 160pc, hosiery 150pc, cotton fabrics 71pc, spices 67pc, made-ups 50pc and the composite increase of all other minor items was 126pc.
Pakistan’s trade deficit with Saudi Arabia also reportedly went down to $826 million during the fiscal 2002-03 from $872 million the year before and $980 million in the fiscal 2000-01. Pakistan’s major imports from Saudi Arabia are crude and oil products. The items that have registered negative export growth over the fiscal include carpets, knitwear, yarn, oilseeds and guar products, etc.
