March 4, 2006	Saturday	Safar 3, 1427

ISLAMABAD, March 3: Pakistan’s trade surplus with the United States increased by 16.52 per cent to $1.883 billion in 2004-05 over $1.616 billion achieved in the previous year.

Official sources told Dawn on Friday that the increase was due to enhanced exports of textile and leather products during the year under review.

Pakistan has been enjoying significant trade surplus with the US since 1999. It was $1.467 billion in 1999-2000; $1.680 billion in 2000-01; $1.569 billion in 2001-02, $1.881 billion in 2002-03 and $1.616 billion in the year 2003-04.

The total volume of bilateral trade rose to $5 billion during the year 2004-05 as against $4.270 billion in the previous year, an increase of over 17 per cent.

The statistics, however, indicated that Pakistan trade surplus remained stagnant during the last six years as it failed to cross the psychological barrier of $2 billion mark.

Official statistics revealed that Pakistan exported $3.446 billion worth of goods to the US during the year 2004-05 against $2.943 billion goods exported during the previous year, showing an increase of 17.09 per cent.

The US exports to Pakistan increased by 17.79 per cent to $1.562 billion during the year under review against $1.326 billion of the previous year.

The product-wise major exports to the US showed that Islamabad exported apparel and clothing worth $1.225 billion to the US in 2004-05 against the same goods worth $1.117 billion in the previous year, showing an increase of 9.66 per cent. Exports of textile materials and made-up including towels stood at $1104.740 million against $861.893 million in the previous year, registering an increase of 28.17 per cent; hosiery export was $79.532 million against $59.267 million, an increase of 34.1 per cent.

Exports of cotton fabrics (woven) to the US during the period under review stood at $292.185 million against $333.328 million in the previous year, showing a decrease of 12.34 per cent; synthetic fabrics exports stood at $65.980 million against $47.001 million in the previous year, an increase of 40 per cent; special textile fabrics and related products at $18.487 million against $27.405 million, a decrease of 32.54 per cent; and rice exports up by 57 per cent to $18.107 million against $11.514 million.

Pakistan exported $109.782 million worth of carpets and rugs to the US during the year 2004-05 against $88.893 million, an increase of 23.49 per cent; cutlery exports stood at $9.971m against $14.383m, a decrease of 30.6 per cent; medical and surgical instruments export was up by 35.78 per cent to $52.835m against $38.910m in the previous year, but sports goods and toys export declined by 13.94 per cent to $35.586m as against $41.352m; and leather goods worth $10.052m to the US against $5.06m showing an increase of 49.62 per cent.

The US major exports to Pakistan in 2004-05 included $469.295m worth of machinery and its parts against $297.415m in the previous year, an increase of 57.79 per cent; $235.686m worth of raw cotton against $171.553m, showing an increase of 37.38 per cent.

Pakistan for the first time imported $128.084m worth of wheat and $141.939m worth of petroleum during the year 2004-05 as against no imports in the last few years.

The US exported $93.506m worth of fertilizers to Pakistan during the year under review against $74.980m in the previous year, showing an increase of 24.7 per cent; $78.867m worth of chemical materials and products against $46.343m, an increase of 70.18 per cent; $64.531m worth of chemical elements and compounds against $46.824m, showing an increase of 37.8 per cent.