November 21, 2008	Friday	Ziqa'ad 22, 1429

ISLAMABAD, Nov 20: The export of traditional products soared by 44 per cent in the first four months of the current fiscal year over the corresponding period last year. This was the highest-ever increase recorded in a quarter in the country’s history.

In absolute terms, the export proceeds from the traditional products reached $3.023 billion from July to October against $2.225 billion during the last year, mainly because of a substantial increase in export of edible products.

Led by the high growth in export of food commodities, the first quarter witnessed an impressive growth in export of traditional products like rice, sports goods, leather products, footwear and surgical and engineering goods, despite the fact that the input cost of such products had witnessed a substantial increase.

The data released here on Thursday by the Federal Bureau of Statistics revealed that textile and clothing exports dropped by 0.97 per cent to $3.539 billion as against $3.573 billion in the same months last year.

During the period, import of textile machinery dropped by over 28 per cent which showed that textile tycoons were not making any investment for improving the competitiveness of their products.

This decline took place despite the fact that the rupee depreciated more than 30 per cent over the past few months and the currencies of main competitors like China and India appreciated.

Details of the export of traditional products showed that the export of food group inched up by 89.51 per cent, the export of rice going up by 155.04 per cent. In the rice group, the export of basmati was up by 101.81 per cent and other varieties by 326.49 per cent.

With the price of rice edging up in international market, Pakistani exporters have attracted highest-ever price for the product.

With the rice crop witnessing a substantial increase this year the export may see a further increase.

The export of fish products during the period was up by 19.14 per cent, fruits 0.75 per cent, sugar 100 per cent, meat 38.43 per cent, spices 6.4 per cent, wheat 100 per cent and other food items 10.19 per cent.

The export of petroleum products increased by 17 per cent, sports goods 4.57 per cent, leather products 5.61 per cent, footwear 17.28 per cent, surgical instruments 7.12 per cent, engineering goods 56.31 per cent, cement 95.47 per cent, molasses 338.97 per cent, jewellery 27.97 per cent and gur 11.51 per cent.

Export of raw cotton went

up by 234.35 per cent, towels 30.90 per cent, knitwear 4.21 per cent, cotton cloth 9.25 per cent, art silk 27.69 per cent and made ups 5.44 per cent and tents 27.69 per cent.