ISLAMABAD, Sept 18: Pakistan's trade surplus with the United Kingdom increased by more than 16 per cent to $502.504 million during the year 2003-04, over $431.748 million achieved in the previous year.
Officials told Dawn on Saturday that the increase in trade surplus with the UK was mainly due to an increase in exports of textile products, rice and sports goods during the year under review.
Pakistan has been enjoying a significant trade surplus with the UK since 2000. It was $225.769 million in the year 2000-01; $302.302 million in 2001-02; and $431.748 million in 2002-03.
Official statistics made available to Dawn on Saturday showed that Pakistan exported goods worth $940.711 million to the UK during the year 2003-04 against $787.973 million exported in the previous year, showing an increase of 19.38 per cent.
And UK exports to Pakistan increased by 23 per cent to $438.207 million during the year under review against $356.225 million of the previous year.
Product-wise major exports to the UK showed that the country exported $319.388 million worth of made-up articles of textile materials to the UK during the year 2003-04 against $271.931 million in the previous year, showing an increase of 17.45 per cent; $260.608 million worth of apparel and clothing accessories of textile material against $203.319 million in the previous year, an increase of 28 per cent.
Pakistan's export of fish and fish preparation to the UK increased by 72.9 per cent during the year 2003-04 over the previous year; rice (all kinds) rose by 19.3 per cent; fruits and vegetables by 8.3 per cent; molasses by 2.12 per cent; cotton fabrics (woven) by 44.3 per cent; synthetic fabrics by 8.48 per cent; furniture and parts by 364.5 per cent; footwear by 0.61 per cent and sports goods by two per cent.
However, Pakistan's export of carpets and rugs to the UK declined by 11.54 per cent during the year 2003-04 over the previous year; special textile fabrics and related products by 10.7 per cent; medical and surgical instruments by 18 per cent and chemical elements and products by 54 per cent.
The UK export of teal and mate to Pakistan registered a growth of 438 per cent during the year 2003-04 over the previous year; raw cotton by 232.7 per cent; old clothing by 8.41 per cent; ores, concentrates of iron and steel by 111 per cent; chemical elements and compounds by 31.4 per cent; chemical materials and products by 2.9 per cent; iron, steel and manufacture thereof by 116.6 per cent; manufacture of non-ferrous metals by 41.4 per cent; and aircraft, equipment and parts by 86.2 per cent.
The UK export of machinery and its parts to Pakistan declined by 0.41 per cent during the year under review over the previous year.