ISLAMABAD, Sept 1: Pakistan's trade deficit with China has widened by 252.4 per cent to $865.211 million in 2003-04, from $245.512 million in 1998-99.
Officials informed Dawn on Wednesday that a consistent rise in the trade deficit with China during the last six years was due to rising imports of machinery/ parts, textiles, and chemical products from China.
They said that this hike was also supported by the concession in duties Pakistan has given to Chinese items in the preferential trading arrangement, signed last year. Official statistics showed Pakistan's trade deficit with China at $245.512 million during 1998-99, $291.201 million in 1999-00, $225.781 million in 2000-01, $346.588 million in 2001-02, and $594.465 million in 2002-03.
Pakistan exported $288.259 million worth of goods to China in 2003-04 against $244.591 million in the previous fiscal, showing an increase of 17.8 per cent, while imports from there rose by 37.4 per cent to $1153.470 million against $839.056 million.
Pakistan's major export to China was cotton yarn, which increased by 38.2 per cent to $148.735 million in 2003-04 as against $107.607 million in 2002-03, and cotton fabrics by 8.35 per cent to $52.531 million as against $48.481 million.
Further product-wise analysis indicated an increase in Pakistani export of fish and fish preparations by 7.9 per cent, hides, skins and fur skins by 24.4 per cent, cotton waste by 312.8 per cent, chemical materials and products by 162 per cent.
However, export of chemical elements and compounds declined by 74 per cent during the period under review. Export of ores and concentrates of non-ferr metals stood at $8.910 million against no export in the previous year.
China's major exports to Pakistan during 2003-04 included - rise in spices by 114 per, coal, coke and briquettes by 429 per cent, chemical elements and compounds by 20.75 per cent, medicinal and pharm products by 2.1pc, chemical materials and products by 62pc, tyres and tubes of rubber by 28.8pc, synthetic fabrics by 139pc, special textile fabrics by 33.4pc, construction materials including cement by 148pc, glass and glassware by 34pc.
Iron and steel and manufacture, thereof, declined by 14.54pc, manufacture of base metals increased by 34.2pc, machinery and parts by 55.5pc, road vehicles and parts by 110.7pc, railway vehicles and equipment by 50pc, footwear by 37pc and sports goods and toys by 1.37 per cent.
