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Exports register 37.8 percent increase
KARACHI (April 14 2010): Pakistan's exports have turned the corner and overcome the challenges posed by the global recession. The exports in March stood at 1.807 billion dollar as compared with 1.312 billion dollar in March 2009, registering a 37.8 percent increase over the corresponding month of the last year.
According to press release issued by Trade Development Authority of Pakistan (TDAP) on Tuesday the export performance in March has been the highest recorded in any month of the current year as well as for the corresponding month of the previous five (5) years.
It said that exports during the months December through March 2010 have grown at an average of 28.3 percent over the corresponding period of 2009, which gives encouragement to the thought that the recession is officially over for Pakistan. It is also safe to predict that Pakistan's exports for the financial year 2009-2010 will overshoot the target of 18.868 billion dollar.
In fact if the current trend continues, and it is fair to assume that it will, the exports of Pakistan are well on course to break the 19 billion dollar threshold achieved in the year 2007-2008. A closer look at the sectoral trends of exports for the year 2009-2010 reveals that Textiles and Clothing, Agro Food and Metals & Minerals have shown an upward trend over the previous year.
The main drivers of this growth are; Raw cotton, Cotton yarn, Art silk and synthetic textiles, readymade garments and towels in the Textiles and Clothing sector; Rice, Fruits and vegetables have made big advances in the Agro Food sector; whereas Jewellery in the Metals and Mineral sector, has grown by a massive 70 percent during the period July to February 2010 over the same period of the last financial year.
The Global recession which resulted in the shrinkage of the western and developed economies by approx 5 percent on an average in the year 2009, saw the developing economies maintain a robust growth averaging 6 percent. This phenomenon has also had a positive impact on the geographic diversification of Pakistani exports, so that Pakistani exports to Asia now accounts for 45 percent of total exports from Pakistan.
Asia has therefore, emerged as the largest market of Pakistani goods. The TDAP is now doubling its levels of participation in Asian markets through increased delegations, exhibitions and other facilitation's for Pakistani exporters to take advantage of opportunities in Asian countries.-PR
Copyright Business Recorder, 2010
Business Recorder [Pakistan's First Financial Daily]
KARACHI (April 14 2010): Pakistan's exports have turned the corner and overcome the challenges posed by the global recession. The exports in March stood at 1.807 billion dollar as compared with 1.312 billion dollar in March 2009, registering a 37.8 percent increase over the corresponding month of the last year.
According to press release issued by Trade Development Authority of Pakistan (TDAP) on Tuesday the export performance in March has been the highest recorded in any month of the current year as well as for the corresponding month of the previous five (5) years.
It said that exports during the months December through March 2010 have grown at an average of 28.3 percent over the corresponding period of 2009, which gives encouragement to the thought that the recession is officially over for Pakistan. It is also safe to predict that Pakistan's exports for the financial year 2009-2010 will overshoot the target of 18.868 billion dollar.
In fact if the current trend continues, and it is fair to assume that it will, the exports of Pakistan are well on course to break the 19 billion dollar threshold achieved in the year 2007-2008. A closer look at the sectoral trends of exports for the year 2009-2010 reveals that Textiles and Clothing, Agro Food and Metals & Minerals have shown an upward trend over the previous year.
The main drivers of this growth are; Raw cotton, Cotton yarn, Art silk and synthetic textiles, readymade garments and towels in the Textiles and Clothing sector; Rice, Fruits and vegetables have made big advances in the Agro Food sector; whereas Jewellery in the Metals and Mineral sector, has grown by a massive 70 percent during the period July to February 2010 over the same period of the last financial year.
The Global recession which resulted in the shrinkage of the western and developed economies by approx 5 percent on an average in the year 2009, saw the developing economies maintain a robust growth averaging 6 percent. This phenomenon has also had a positive impact on the geographic diversification of Pakistani exports, so that Pakistani exports to Asia now accounts for 45 percent of total exports from Pakistan.
Asia has therefore, emerged as the largest market of Pakistani goods. The TDAP is now doubling its levels of participation in Asian markets through increased delegations, exhibitions and other facilitation's for Pakistani exporters to take advantage of opportunities in Asian countries.-PR
Copyright Business Recorder, 2010
Business Recorder [Pakistan's First Financial Daily]
