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Exports of non-textile goods fall by 14pc

Updated November 28, 2014

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— Reuters/File
— Reuters/File

ISLAMABAD: Pakistan’s export of non-textile products witnessed a negative growth of 13.59 per cent during the first four months of the current fiscal year from a year ago.

In absolute terms, export proceeds from these products fell to $3.370 billion in July-October 2014 from $3.90bn in the corresponding months of last year.

In the 2014-15 budget, the government announced to provide subsidy on export of nine value-added non-textile products, but the decision has yet to be notified by the government despite a lapse of three months.

The subsidy scheme was announced for leather manufacturers, footwear, sports goods, surgical, engineering goods, furniture, meat and meat products, fish products and cutlery.

Exports from the non-textile sector are witnessing a declining trend since July 2014, but the ministry of commerce is yet to take corrective measures for arresting the decline.

Last year, export of non-textile products reached $11.40bn from $11.42bn in the previous year, showing a decline of 0.18pc.

Product-wise details show a decline of 23.88pc year-on-year in export of petroleum products. Petroleum products and naphtha led the decline in the petroleum sector’s export. Last year, export of these products witnessed a substantial growth.

Export of carpets and rugs witnessed a negative growth of 9.79pc during July-October 2014 period of the current fiscal year from a year ago.

However, export of sports goods increased by 8.81pc year-on-year during the months under review. Foreign sales of footballs were also up by 10.34pc.

Export of tanned leather witnessed a negative growth of 4.27pc in July-October 2014 from a year ago.

Leather products’ export declined by 5.93pc during the period under review. All value-added leather products witnessed decline in exports in July-October 2014.

Export of footwear swelled by 19.03pc, mainly driven by 25.93pc growth in export of leather footwear. This is the only sector which witnessed an impressive growth during the first four months of the current fiscal year from a year ago.

The growth in footwear was mainly because of preferential market access in the EU market because of GSP+ scheme.

Export of surgical goods and medical instruments went down by 3.09pc and engineering goods dipped by 32.71pc during the period under review over last year.

Year-on-year export of gur was down by 9.38pc, cement 3.03pc, molasses 76.24pc, furniture 3.14 pc and jewellery 97.40pc during the first four months of the current fiscal year from a year ago.

In the food basket, export of rice witnessed a decline of 4.93pc in the first four months of the current fiscal year from a year ago.

The decline was witnessed in export of both basmati and non-basmati rice. Export of oil, fish, pulses, vegetables, and fruits witnessed a decline during the period under review.

However, export of sugar witnessed an increase of 122.52pc during July-Oct 2014. Exports of spices also witnessed an increase of 13.83pc during the period under review.

Published in Dawn, November 28th, 2014