KARACHI, July 23: An almost across the board rise in average unit price of more than three dozen items coupled with increase in their export quantity and greater market access in major export centres of the globe are the factors that have contributed towards the phenomenal 21 per cent export growth during 02-03.
An initial analysis of over $11 billion export structure during 2002-03 shows that 35 export items earned more than 26 per cent foreign exchange over 01-02. Average unit prices of about a dozen core export items showed marked rise during 02- 03. Export quantities of many of these items also increased.
A significant feature of Pakistan’s export marketing during 02-03 is flow of greater volume of goods in traditional as well as non-traditional markets. Almost 45 per cent export growth is visible in UAE. Asian countries other than UAE showed 31 per cent rise. East Europe is now gradually emerging as market for Pakistan goods which showed more than 37 per cent increase. Africa absorbed 39 per cent more goods. The affluent European Union countries generated 21 per cent more export earnings for Pakistan in outgoing fiscal. The US showed a significant growth of 16 per cent. Overall North America received 17 per cent more goods from Pakistan.
About three dozen items, that include textiles and garments the main driver of export growth, earned more than two billion dollars over what was realised in 01-02. In 02-03 the export of these items fetched about $9.84 billion, which is about $2.05 billion more than $7.79 billion export earnings recorded in 01-02.
Export of textile products fetched about $1.5 billion or 24 per cent more during the outgoing fiscal as compared to 01-02. Bedwear exports swelled by about 44 per cent and for the first time exceeded $1 billion coveted figure. Export of readymade garments increased by more than 25 per cent to net more than $1 billion. Fabrics export too jumped by over 17 per cent and fetched $1.33 billion. Yarn export remained virtually unchanged at $930 million indicating that there had been an increase in production which has taken care of the domestic value-added sector.
Average unit price of many of these textile products increased by 4 to 9 per cent while their exportable quantities also increased considerably.
Pakistan footwear market is groaning under unending flow from China and Korea. But Pakistan’s footwear export earned about $69 million which is 42 per cent more than what was realised a year ago. Rice export went up by 22 per cent. Pakistan’s meat is also making a place in world export market and fetched $10.22 million.
Ten items placed in development category by the export planners showed a growth of over 41 per cent. Chemicals export went up by 67 per cent netted more than $255 million. Export of engineering goods mainly electric fans was up by 33 per cent and fetched $68 million. IT services started making appearance in export market and brought in $19.58 million.
South America as a region presents a dismal picture for Pakistan’s exports showing a declining trend. Yet in countries like Colombia, Chile, Surinam, Peru and in Argentina, Pakistan’s exports have shown a rising trend. A lot of work needs to be done in Brazil and oil rich Venezuela where Pakistan can make a place for its goods.