ISLAMABAD: Exports of non-textile products went up nearly five per cent year-on-year to $3.781 billion during July-November in FY20 owing to cash support to various sectors and currency depreciation.
The persistent increase shows exports of non-textile products have rebounded in the ongoing fiscal year reversing the declining trend seen during last few years. The trend indicates a natural diversification of the export base owing to highest-ever depreciation of the rupee, which was highly concentrated in few textile-based products.
Under various subsidies schemes, the government had extended cash support to leather manufacturers, footwear, sports goods, surgical, engineering goods, furniture, meat and meat products, fish products and cutlery manufacturers in a bid to increase non-textile exports.
The data released by the Pakistan Bureau of Statistics showed carpet and rug exports increased by 4.44pc during the first five months of current fiscal year from a year ago. The slight increase shows that depreciation of rupee has helped Pakistani exporters to get market access and compete with Chinese and Indian exporters.
However, sports goods’ exports went down slightly by 2.01pc and foreign sales of footballs were up by 14.73pc.
Tanned leather exports witnessed a negative growth of 18.78pc in July-Nov from a year ago.
Data showed a year-on-year decline of 35.52pc in exports of petroleum products. Petroleum products, crude and naphtha contributed in overall decline in the sector’s exports.
After a long time, exports of leather products rebounded jumping by 11.21pc during this period. This was mainly led by sales of leather garment, leather gloves, followed by other leather products.
Footwear exports went up by 22.72pc on back of leather footwear and others, surgical goods and medical instruments by 10.94pc. However, engineering goods dipped by 2.13pc during the year under review.
Year-on-year exports of gems surged 62.73pc. However, export of molasses dropped by 97.8pc, and jewellery 8.79pc, while those of cement and furniture fell by 5.27pc and 19.6pc respectively.
In the food basket, exports of rice witnessed a robust rise of 38.58pc in the five months of current fiscal year from a year ago. The growth was witnessed in both basmati and non-basmati rice. This will be the highest export proceeds of rice from Pakistan in five months owing to shortage of the commodity in the major rice producing countries.
Exports of sugar, meat and tobacco are the other three major commodities which recorded an impressive growth. Furthermore, exports of fish, vegetables, and fruits also increased.
Published in Dawn, December 22nd, 2019
