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Import payments shrink to $25.248bn
Wednesday, May 19, 2010
By Shahnawaz Akhter
KARACHI: The countrys export receipts surged to $16.155 billion during July-April 2009/10 from $15.817 billion during the corresponding period last year, according to the provisional data issued by the State Bank of Pakistan (SBP) on Tuesday.
The central bank said that during the period under review, the import payments shrunk to $25.248 billion against $26.952 billion during the corresponding period last year.
The major components in export receipts are textile with $8.378 billion followed by exports of food group $2.693 billion, other manufacturing products, including carpets and rugs $2.867 billion and petroleum group $959 million, according to the data.
The robust growth in exports of cotton and yarn has offset the overall negative trend in receipts from textile exports.
The export receipts by the banks from exports of raw cotton and cotton yarn rose to $205 million and $1.041 billion, respectively from $96.515 million and $844.588 million in July-April 2008/09.
The exports of bedwear during the period also registered an increase to $1.34 billion from the previous years $1.271 billion, it said.
The major contributors in textile export receipts, however, witnessed decline. The export receipts of cotton cloth decreased to $1.544 billion from $1.788 billion. Similarly, knitwear and readymade garments fell to $1.684 billion and $791 million, respectively from $1.742 billion and $817 million.
The export receipts of other manufacture commodities shown mixed trend. The exports of cement fell to $422.86 million from $505.437 million and the engineering goods witnessed a decline from $294 million to $246 million.
The central bank said that the major chunk of import payments of $8.303 billion was spent on purchase of petroleum products during July-April 2009/10. The payments, however, registered a decline from $8.696 billion over the corresponding period last year.
The decline in commodity prices in the international markets and inflationary pressure in the country restricted food imports to $2.455 billion during the period under review against $3.158 billion, it said.
Despite electricity shortfall in the country, the import payments made under the machinery group stood at $3.42 billion against $4.233 billion last year. The major fall witnessed under this head was payments made on import of power generating machinery that reduced to $720 million from $1.06 million.
A significant rise in import payments was registered in transport group as it surged to $1.155 billion from $813 million.
The import payments under the head of agri and other chemicals during the first 10 months stood at $4.416 billion against $4.11 billion during the corresponding period last year.
The import payments in the metal group stood flat during the period to $1.667 billion from $1.634 billion, it added.
July-April export receipts surge to $16.155 billion
We are on our way to economic stability!
Wednesday, May 19, 2010
By Shahnawaz Akhter
KARACHI: The countrys export receipts surged to $16.155 billion during July-April 2009/10 from $15.817 billion during the corresponding period last year, according to the provisional data issued by the State Bank of Pakistan (SBP) on Tuesday.
The central bank said that during the period under review, the import payments shrunk to $25.248 billion against $26.952 billion during the corresponding period last year.
The major components in export receipts are textile with $8.378 billion followed by exports of food group $2.693 billion, other manufacturing products, including carpets and rugs $2.867 billion and petroleum group $959 million, according to the data.
The robust growth in exports of cotton and yarn has offset the overall negative trend in receipts from textile exports.
The export receipts by the banks from exports of raw cotton and cotton yarn rose to $205 million and $1.041 billion, respectively from $96.515 million and $844.588 million in July-April 2008/09.
The exports of bedwear during the period also registered an increase to $1.34 billion from the previous years $1.271 billion, it said.
The major contributors in textile export receipts, however, witnessed decline. The export receipts of cotton cloth decreased to $1.544 billion from $1.788 billion. Similarly, knitwear and readymade garments fell to $1.684 billion and $791 million, respectively from $1.742 billion and $817 million.
The export receipts of other manufacture commodities shown mixed trend. The exports of cement fell to $422.86 million from $505.437 million and the engineering goods witnessed a decline from $294 million to $246 million.
The central bank said that the major chunk of import payments of $8.303 billion was spent on purchase of petroleum products during July-April 2009/10. The payments, however, registered a decline from $8.696 billion over the corresponding period last year.
The decline in commodity prices in the international markets and inflationary pressure in the country restricted food imports to $2.455 billion during the period under review against $3.158 billion, it said.
Despite electricity shortfall in the country, the import payments made under the machinery group stood at $3.42 billion against $4.233 billion last year. The major fall witnessed under this head was payments made on import of power generating machinery that reduced to $720 million from $1.06 million.
A significant rise in import payments was registered in transport group as it surged to $1.155 billion from $813 million.
The import payments under the head of agri and other chemicals during the first 10 months stood at $4.416 billion against $4.11 billion during the corresponding period last year.
The import payments in the metal group stood flat during the period to $1.667 billion from $1.634 billion, it added.
July-April export receipts surge to $16.155 billion
We are on our way to economic stability!
