ISLAMABAD, March 28: Pakistan’s trade deficit with India widened to $259.324 million during 2004-05 as against $73.736 million in 1999-2000 following the expansion of tradable items in the positive list. Official statistics available with Dawn indicates that Pakistan-India trade, which favoured Pakistan till 1998, is now tilted heavily in favour of India.
Pakistan exported 60 per cent of total petroleum products to India during 2004-05, while the share of other products in the total exports to India stood at only 40 per cent.
Pakistan had achieved a trade surplus of $27.807 million with India in 1998-99. Since then, the surplus has turned into a deficit, with an average of 130 per cent per annum during the last six years.
The statistics showed that trade deficit with India was $73.736 million in 1999-2000, $179.689 million in 2000-01, $137.294 million in 2001-02, $237.173 million in 2002-03 and $288.687 million in 2003-04.
The total volume of bilateral trade between the two countries stood at $835.592 million during 2004-05 as against $476.047 million the previous year, indicating an increase of 75.5 per cent. The total trade volume was $319.497 million in 1998-99, which showed that trade liberalization measures had resulted in increasing the volume of bilateral trade.
Pakistan exported goods worth $288.134 million to India during the fiscal year 2004-05, while it imported goods worth $547.458 million from India during the same period. Product-wise exports showed that Pakistan exported petroleum and its products worth $172.948 million to India as against $38.984 million, showing an increase of 343.63 per cent.
Fruits and vegetables exports stood at $26.195 million during the fiscal year 2004-05 as compared to $19.547 million the previous year, showing an increase of 34 per cent. The export cotton fabrics woven stood at $18.623 million as against $7.858 million, an increase of 137 per cent. The export of molasses to India rose by 528 per cent to $17.075 million as against $2.718 million.
Exports of other products included: $2.746 million worth of raw cotton, $1.334 million wool, $2.411 million crude vegetables materials, $4.052 million chemical elements, $1.983m chemical materials, $3.533m leather, $2.732m cotton yarn, $1.368m synthetic fabrics, $2.315m made-up articles and $1.047m apparel and clothing.
India exported chemical elements and compounds worth $195.867 million to Pakistan; $69.279 million chemical materials and products; $32.942 million tyres and tubes, $38.988m feeding stuff for animals, 65.346m ores and concentrates of iron and steel, $15m raw cotton, $5.213m cotton yarn and $13.408 million iron and steel products during the fiscal year 2004-05.