ISLAMABAD, Sept 4: Pakistan's trade deficit with Saarc-member countries rose by 77 per cent to $87.1 million in the financial year 2003-04 against $20 million over the previous year.

Officials told Dawn on Saturday that the increase in the trade deficit with Saarc-member countries was due to a considerable increase in imports from India followed by Sri Lanka and Bangladesh during the year under review over the previous year's volume.

The country-wise analysis showed that Pakistan's trade remained in deficit with India during the year 2003-04, while it remained in surplus with Bangladesh followed by Sri Lanka, Nepal, Bhutan and Maldives.

Pakistan's total exports to Saarc-member countries increased by 47 per cent to $393.4m during the year 2003-04 against $267.6m the previous year. And total imports from Saarc countries to Pakistan also rose by 100.5 per cent during the year under review to $480.5m against $239.6m of the corresponding period of the previous year.

Pakistan's major regional trading partner during the financial year 2003-04 was India followed by Bangladesh and Sri Lanka.

The break-up further showed that Pakistan exported goods worth $93.7m to India during the financial year 2003-04 against $70.7m the previous year, showing an in crease of 32.5pc, while Indian exports to Pakistan rose by 129.6pc to $382.4m during the period under review against $166.5m the previous year.

Pakistan's exports to Bangladesh increased by 13pc to $195m during the financial year 2003-04 against $144.4m the previous year, while Dhaka exported goods worth $45.9m to Islamabad during the same year against $32.7m the previous year, showing an increase of 40pc.

Pakistan's exports to Sri Lanka stood at $97.8m during the year 2003-04 against $76.1m the previous year, showing an increase of 28.5pc, while Colombo exported goods worth $48.4m to Islamabad during the same period against $38.3m the last year, registering an increase of 26.3pc.

Out of total exports to other Saarc-member countries, Pakistan exported goods worth $4.6m to Nepal during the year 2003-04 against $3.1m the previous, an increase of 48pc; goods worth $1.9m to Maldives against $3.3m of previous year, a decrease of 42.2pc; and $0.4m worth goods to Bhutan during the same period under review against $0.1m, an increase of 300 per cent.

Nepal exported goods worth $3.4m to Pakistan during the financial year 2003-04 against $1.4m the previous year, showing an increase of 142.8pc; Maldives exports to Pakistan stood at $0.2m during the same period against $0.1m, an increase of 100pc; and Bhutan exported goods worth $0.2m to Pakistan during the year under review against $0.7m in the previous year.