Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Rising trade figures: Pakistan exports up by 3.9 percent in 1H 2011-12
01-11-2012, 12:13 PM
Post: #1
Rising trade figures: Pakistan exports up by 3.9 percent in 1H 2011-12
Rising trade figures: Pakistan exports up by 3.9 percent in 1H 2011-12


KARACHI: Pakistan overall exports jumped by 3.9 percent in the first half of the current fiscal year (2011-12) and stood at $11.241 billion, the figure released by the Trade Development Authority Pakistan (TDAP) Tuesday, but almost declined 11.5 percent in December 2011 to $1.854 billion.

However, the total import of the country in July-December 2011-12 jumped to $22.713 billion registering an increase of 18.9 percent. In December, it registered a growth of 13.6 percent and stood at $3.751 billion.

“Cumulative figure shows that Pakistan’s exports during July-December 2011-12 were $11.241 billion, while in the corresponding period of the last year 2010-11 exports were $10.815 billion, which shows 3.94 percent growth,” TDAP official said. “Imports during July-December 2011-12 were $22.713 billion compared to $19.102 billion during the same period of the year 2010-11, registered a 18.9 percent growth,” it added.

“Pakistan’s exports during December 2011 were valued at $1.854 billion, which was 11.5 percent lower than the level of $2.094 billion during December 2010,” the official said. “Imports during December 2011 were valued at $4.261 billion registering a growth of 13.6 percent over the level of imports valued at $3.751 billion in December 2010,” he said.

According to the State Bank of Pakistan, overseas Pakistani remitted an amount of $6.33 billion in the first half (July–December 2011), showing an impressive growth of 19.54 percent or $1.034 billion compared with $5.291.43 billion received during the same period of last fiscal year (July- December 2010).

The monthly average remittances for July-December 2011 period comes out to $1.054 billion as compared to $881.91 million during the same corresponding period of the last fiscal year, registering an increase of 19.54 percent.

Pakistani currency (Pak rupee) fell to a record low against US dollar owing to the country’s trade deficit.

Rupee slid 0.3 percent, most since December 27, before Federal Bureau of Statistics published trade data for last six months this week.

Rupee is being traded around at Rs 91.00 to Rs 91.50 against a dollar, weakest level at least since 1988. It may fall to 95 by end of June, Standard Chartered’s Ali predicted.

Last week, the governor SBP has informed the Senate Standing Committee on Finance, “the likelihood of a sharper fall in foreign exchange reserves is strong in the second half of 2011-12 due to large repayments of external debt, including $1.2 billion of IMF loan, are due in second half.”

SBP officials agreed with the members that in case foreign inflows were not materialised, reserves might fall by $5 billion from current level. It was informed that pressures on foreign exchange reserves and exchange rate have increased, reserves have declined by $1.2 billion up till December 30 ongoing fiscal year 2011-12. Rupee, against the dollar, has depreciated by 4.4 percent up till December 30. SBP is managing excess volatility in Pak Rupee, but is not going against market fundamentals. Timely realisation of planned official inflows is essential for maintaining comfortable level of reserves.

Inflation is declining but still high, trends in cotton and oil prices are severely affecting the external current account.

Net capital and financial flows are inadequate to finance the current account deficit.

The year-on-year inflation in December 2011 is 9.7 percent, but the full year inflation is expected to remain close to the target of 12 percent.

Country, foreign exchange reserves have again touched to $17 billion and keeping in view the trade trends, Pakistan trade deficit would not go beyond $14.5 billion.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  CPEC will Qualify Pakistan to Boost trade with European countries LRE-Azan 0 3,907 11-01-2017 02:10 PM
Last Post: LRE-Azan
  Linkage of Gwadar Port with Karakorum Highway will multiply Pakistan exports to China Salman 0 8,210 09-24-2013 11:42 AM
Last Post: Salman
  CDA announces 50 percent rebate on property tax Salman 0 5,045 09-16-2013 04:40 PM
Last Post: Salman
  $15bn trade target set for 2015 is achievable’ Salman 0 4,291 04-16-2013 12:55 PM
Last Post: Salman
  LDA Trade Centre’s auction today Salman 0 4,809 09-18-2012 03:15 PM
Last Post: Salman
  Pakistan for trade expansion with China Salman 0 4,204 04-11-2012 12:44 PM
Last Post: Salman
  French ambassador for promoting trade relations with Pakistan Salman 0 3,769 04-07-2012 12:42 PM
Last Post: Salman
  PM for increased trade among Asian countries Salman 0 3,813 04-04-2012 01:26 PM
Last Post: Salman
  Pak-India trade moot to take place on 4th Salman 0 3,622 04-02-2012 12:48 PM
Last Post: Salman
  Pakistan to explore new trade opportunities with New Zealand Salman 0 3,810 03-17-2012 02:20 PM
Last Post: Salman
  UAE investment and trade with Pakistan stands out Salman 0 3,910 02-13-2012 11:53 AM
Last Post: Salman
  Goods Council Approves EU Trade Concessions for Pakistan Salman 0 4,141 02-09-2012 12:37 PM
Last Post: Salman
  ‘Pak trade to get boost even if it captures 1% of India’s market Salman 0 4,118 02-06-2012 01:25 PM
Last Post: Salman
  Telecom Sector earns all time high revenues in 2011 Salman 0 3,627 01-25-2012 04:10 PM
Last Post: Salman
  Karachi :Real estate performance in 2011 Salman 0 4,134 01-02-2012 01:05 PM
Last Post: Salman
  Construction: Rising prices, regulatory hurdles hamper activity Salman 0 3,396 12-31-2011 06:05 PM
Last Post: Salman
  EU urges Pakistan to enhance trade with ECO countries Salman 0 4,276 12-27-2011 02:03 PM
Last Post: Salman
  Pakistan exports increase by 7.6% during Jul-Nov 2011 Salman 0 4,048 12-21-2011 01:21 PM
Last Post: Salman
  Cotton crop season 2011-12 to achieve more than 15m bales Salman 0 3,571 12-20-2011 01:01 PM
Last Post: Salman
  Use Gwadar Port for Afghan Transit Trade: CM LRE 2 7,910 12-19-2011 12:31 PM
Last Post: LRE

Forum Jump:


User(s) browsing this thread: 1 Guest(s)