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ISLAMABAD: Exports rose by over nine per cent year-on-year to $1.966 billion in November from $1.796bn, brightening hopes for better proceeds in the upcoming months.
In rupee terms, the exports grew by 3.59pc during the month, according to data released by Pakistan Bureau of Statistics on Wednesday.
Exports growth rate had been in decline since July, which led the government to take a belated action to arrest the disturbing trend.
Talking to Dawn, Federal Textile Minister Abbas Khan Afridi linked the reversal of trend to the government decision of ensuring uninterrupted supply of electricity and gas to the textile mills in Punjab. A committee was also constituted last month to find out ways and means for gas supply.
“We are also expecting higher growth because of preferential access to European markets,” Afridi said, referring to the GSP+ scheme granted by the 28-nation European Union.
From July 1, the government also announced cash subsidy on exports from low to high value-added textile and clothing sectors.
In July-November, exports fell by 4.19pc to $9.922bn from $10.356bn in the year-ago period. Export proceeds in FY14 grew by 2.75pc to $25.132bn from $24.46bn in FY13.
Contrary to this, imports volume reached $20.373bn in July-November as against $18.11bn during the same period of last year, reflecting an increase of 12.5pc. But a negative growth of 0.58pc was witnessed in November 2014 over the same month of last year.
In FY14, imports grew marginally by 0.36pc to $45.113bn from $44.95bn in FY13.
Trade deficit during the five-month period widened by 34.78pc year-on-year to $10.451bn from $7.754bn. On a monthly basis, however, the trade deficit decelerated in November by 10.3pc over the same month of last year.
Exports record 9pc growth in November - Newspaper - DAWN.COM
In rupee terms, the exports grew by 3.59pc during the month, according to data released by Pakistan Bureau of Statistics on Wednesday.
Exports growth rate had been in decline since July, which led the government to take a belated action to arrest the disturbing trend.
Talking to Dawn, Federal Textile Minister Abbas Khan Afridi linked the reversal of trend to the government decision of ensuring uninterrupted supply of electricity and gas to the textile mills in Punjab. A committee was also constituted last month to find out ways and means for gas supply.
“We are also expecting higher growth because of preferential access to European markets,” Afridi said, referring to the GSP+ scheme granted by the 28-nation European Union.
From July 1, the government also announced cash subsidy on exports from low to high value-added textile and clothing sectors.
In July-November, exports fell by 4.19pc to $9.922bn from $10.356bn in the year-ago period. Export proceeds in FY14 grew by 2.75pc to $25.132bn from $24.46bn in FY13.
Contrary to this, imports volume reached $20.373bn in July-November as against $18.11bn during the same period of last year, reflecting an increase of 12.5pc. But a negative growth of 0.58pc was witnessed in November 2014 over the same month of last year.
In FY14, imports grew marginally by 0.36pc to $45.113bn from $44.95bn in FY13.
Trade deficit during the five-month period widened by 34.78pc year-on-year to $10.451bn from $7.754bn. On a monthly basis, however, the trade deficit decelerated in November by 10.3pc over the same month of last year.
Exports record 9pc growth in November - Newspaper - DAWN.COM
