KARACHI: Pakistan’s exports, first time ever in the country’s history, has crossed $22 billion mark in the first 11 months of the current financial year.
According to the latest trade figures, exports from Pakistan during May, 2011 were $2.3 billion, which is 32 percent higher than that of corresponding period of year.
The cumulative exports for the period July-May 2011 totalled $22.412 billion as against $17.509 billion during the corresponding period of last year, showing an increase of 28 percent.
Group-wise exports of Pakistan during the month of May 2011 and its comparison with 2010, shows rapid growth in textile and agro food sector. Textiles was the major export sector which, having 55 percent share in total exports, recorded 46.23 percent growth over the same month of last year.
Export of food group grew by 66.24 percent. On the other hand, growth in manufacturing sector decreased by 2.6 percent and petroleum group by 11.7 percent. Consolidated export figures for July-May period shows that textile sector was the driving agent in reaching this level of export.
Cotton cloth and knitwear were the top export products and their export grew by 40.6 percent and 30 percent, respectively. Cotton yarn, rice, bed wear, and readymade garments were the items which have each crossed the $1.5 billion mark during the 11 months of the fiscal year 2010-11. Among them, Rice export decreased slightly by 0.7 percent. Export of chemicals grew by 24.2 percent, petroleum products by 41.2 percent, towels by 11.1 percent and art silk & synthetic textile by 50.9 percent.