Exports cross $20 billion for the first time in history

KARACHI –– The country’s exports have crossed $20 billion mark in July-April 2010-11, while the total imports stood at $32.263 billion registering a growth of 17.7 percent. Tariq Iqbal Puri, Chief Executive Trade Development Authority of Pakistan (TDAP) said for the first time ever in the country’s history, exports have crossed the $20 billion mark in the first 10 months of the current financial year. Ministry of Commerce and TDAP, through coordinated efforts have succeeded in achieving the landmark figure, he said.

He said Pakistan’s exports in the month of April 2011 of $2.38 billion, was 40 percent higher than the level of $1.7 billion during April 2010. Pakistan has been consistently crossing the $2 billion mark for the last 5 months of current financial year.

He informed imports during April 2011 were valued at $3.247 billion registering a growth of 7.7 percent over the level of imports valued at $3.016 billion in April 2010. However, the trade deficit shrunk in April by 34 percent as compared to April last year, which is also a positive sign for our current account.

Cumulative value of exports for the period July-April 2010-11 was $20.18 billion as against $15.773 billion registering a growth of 27.9 percent over the same period last year.

While cumulative value of imports for the period July-April 2010-11 was $32.263 billion as against $28.123 billion last year, registering a growth of 14.7 percent over the same period last year. For the period April-July 2010-11, the trade deficit was marginally reduced by about 2 percent.

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