Pakistan Export Updates

[ghazi52]

Engineering Development Board chairman Almas Hyder said the government is focusing on “Africa Look Policy” to boost auto sector exports.

Massey Ferguson, the assembler of Millat tractors, has been exporting the farm vehicles for the last 10 to 15 years and the numbers have been growing. An official said the company had exported 2,000 tractors in FY21 to Afghanistan, African countries, Far East, Myanmar and Malaysia at a price of $15,000 per tractor of 85 horse power.

“We have set an export target of 4,000 tractors for FY22 as new markets are also being explored coupled with high hopes of increasing tractor exports in Afghanistan and African countries,” he said, adding some private parties after lifting tractors are also exporting in low volumes.

 

[HammerHead081]

Dawood optimistic about $50bn export target prospects

• Says Pakistan now wants to make a name for itself in non-traditional sectors, including engineering and pharmaceuticals
• Hopeful that country will reach target by fiscal year 2023

APP
16 Aug 2021

ISLAMABAD: Adviser for Commerce and Investment Abdul Razak Dawood Sunday expressed hope that by the last fiscal year of the current government's tenure, ie, 2023, the country's exports would reach $50 billion by following the policy of trade diversification in potential trade sectors and markets.

Export diversification, focus on non-traditional sectors and increasing exports to new markets, including the African market, would not only enhance the volume of the country's exports, but would also help to achieve the export targets, the adviser told this during an exclusive interview with APP.

'Make in Pakistan' is the government's top priority trade policy, which aimed to introduce Pakistan's traditional and non-traditional export sectors and local products in the international trade market.

The adviser said that now the export of mobile and motorcycle from Pakistan would be started within the same trade policy.

He said the export of these two products to the global market would usher an era of exporting engineering products from the country.

He said that at present, the share of engineering goods exports in the global trade market was 51 percent.

He said that Pakistan now wanted to make a name for itself in the world in non-traditional sectors, including engineering and pharmaceuticals.

He informed the recently local Karachi based electrical and electronics goods company 'INOVI TELECOM (PVT) LIMITED' has just exported the first consignment of 5,500 "Made in Pakistan" 4G mobile phones to the Middle East.

Dawood said that this would be the beginning of an era of high value-added exports from Pakistan.

He said that this also marks the beginning of product diversification from our traditional to nontraditional sectors.

"I urge other mobile manufacturers in Pakistan to emulate this example and aggressively export their products," he said.

The adviser said that in the recent past, when the United States, Secretary of States for commerce visited Pakistan, he had identified in his trade facilitation scheme Generalized System of Preferences (GSP) a number of traditional trade products in which Pakistan had not yet shipped goods to the US trade market.

He added the US, GSP program provides nonreciprocal, duty-free tariff treatment to certain products imported to the United States from designated Beneficiary Developing Countries (BDCs).

Most of these items came from Pakistan's traditional commercial products, including textiles, which were now being worked on diligently.

"Geographical trade diversification and search for new markets will further increase our exports," he said.

And in this regard, the government wanted to increase exports to Europe and the United States by making its trade goods globally competitive, he added.

Replying to a question, he said that now the manufacturing of motorcycles had been started in Pakistan and with this Pakistan would start exporting up to 10,000 motorcycles which would be increased up to export of 30,000,000 motorcycles annually in the coming years.

He said that Japanese company 'Honda' has decided to set up its own manufacturing plant in Pakistan, which will make Pakistan a hub of motorcycle manufacturing.

They will start exporting motorcycles worth $30 million from Pakistan in coming years.

Dawood said that "we have decided to move towards import substitution which will increase our exports and create more industries in the country.

Replying to another question, he said that Pakistan's exports touched the mark of over $25 billion over the past fiscal year 2020-21, and now the government has set an export goal of $38.7 to 40 billion for the current FY 2021-22.

He said the export goal for the previous year was $ 25.3 billion for items and $6 billion for the services sector.

He said that the country's Information Technology (IT) exports had grown at 47 percent, which indicates that IT exports crossed the mark of $ 2 billion.

Does he looks like Emperor Palpatine to anyone else? lol

 

[ghazi52]

IT exports maintained a handsome 20 percent growth in July 2021 compared to the export’s value of the same month of the last financial year.

The growth of IT remittances not only reduced from 40 percent to 20 percent but also declined from the previous month by over 6 percent, which stood at $210 million in June 2021.

Exporters of the IT sector said the increase in export growth would be visible in the next quarter hopefully, provided that the incentives will be implemented in true letter and spirit.

 

[ghazi52]

Pakistan’s regional exports increase 20.50% in July 2022


The Frontier Post

ISLAMABAD (APP): Pakistan’s exports to the seven regional countries witnessed an increase of 20.50 percent in first months of current financial year (2021-22) as compared to the corresponding month of last year.

The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $282.020 million, which is 12.49 percent of Pakistan’s overall exports of $2257.042 million in July 2021-22, State Bank of Pakistan (SBP) reported.

China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving behind other countries such Bangladesh and Afghanistan.

Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.
Pakistan’s exports to China posted growth of 55.26 percent to $165.878 million in July 2022 from $106.775 million in July 2021 While exports to Bangladesh also increased by 5.66 percent to $51.033million from $48.297 million.

The country’s exports to Afghanistan however dropped by 38.57 percent to $38.557million this year from $62.774 million whereas exports to India plunged by a whopping 87.81pc to $0.054 million from $0.443 as the government has suspended trade relations with India.

Similarly, exports to Sri Lanka rose by 68.55 percent to $235.991 million from $15.420 million in the previous year.

Exports to Nepal declined by 39.86 percent to $0.273 million from 0.454million while to Maldives dipped by 1.21 percent to 0.325 million from 0.329million, it added.

On the other hand, the imports from seven regional countries were recorded at $1350.535 million during July 2022 compared to $ 1131.427 million during July 2021, showing increase of 19.36 percent.

The imports from China during July 2022 were recorded at $1311.976 million against the $1100.268 million during July 2021, showing an increase of 19.24 percent during the period.

Among other countries, imports from India worth $12.405 million against the imports of $15.833 million, decrease of 1.52 percent while imports from Afghanistan increased by 194.23 percent from $4.216 million to $12.405 million.

Meanwhile, imports from Sri Lanka witnessed 2.62 percent decline from $7.096 million to $6.910 million whereas Pakistan Imports from Bangladesh recorded at $ 3.518 million from $3.948 million during July 2021.

The imports from Nepal into the country witnessed decline of 4.54 percent from $0.066 million to $0.063 million, it added.

 

[ghazi52]

Dawood sees more engineering goods exports from Gujranwala


By APP
August 23, 2021

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood has said that industries of Gujranwala could gain a prominent position in the export of engineering goods in coming years through increasing the productive manufacturing.

“Gujranwala already has a manufacturing base for engineering goods and the government is ready to provide all possible facilities for further innovation and improvement,” he said.

The adviser said this while meeting Gujranwala Chamber of Commerce and Industry (GCCI) President Umar Ashraf Mughal, along with other senior business leaders.

Dawood said that the government wants to introduce its non-traditional products, especially engineering goods, in the international market, which has a strong potential to increase Pakistan’s exports.

“The government is looking for new markets, especially in the African market, where we need to increase exports of light engineering goods,” he said.

He hoped that by the end of the fiscal year 2022 (FY22) of the current government, the country’s exports would reach $40 billion by following the policy of trade diversification in potential trade sectors and markets.

He said that export diversification, focusing on non-traditional sectors and increasing exports to new markets, including the African market, would not only enhance the volume of the country’s exports, but would also help to achieve the export targets.

“‘Make in Pakistan’ is the government’s top priority trade policy, which aims to introduce Pakistan’s traditional and non-traditional export sectors and local products in the international trade market,” he said.

He said that Pakistan now wanted to make a name for itself in the world in non-traditional sectors, including engineering and pharmaceuticals.

“Geographical trade diversification and search for new markets will further increase our exports,” he said.

Dawood said that “we have decided to move towards import substitution which will increase our exports and create more industries in the country.

He said that Pakistan was moving towards rapid development due to correct, solid trade and economic policies.

Engineering and steel goods have huge potential to become Pakistan’s biggest exports like the other biggest sectors including textile, he said.

“We need economic sustainability for at least next 10 to 15 years to become a significant export hub globally” Razak said.

As soon as the Afghanistan situation would clear, “We will be able to export many Pakistani products to Tajikistan, Uzbekistan and other Central Asian States.” he said.

Razak Dawood said that in order to increase the country’s exports, the government has entered into different trade agreements with various countries.

The government was trying to increase exports from the country, while reducing imports, he said.

He said that the government was aware of the problems of the steel industry and added that he wished for no difference between the tariffs of industrial and commercial importers and the import of raw materials.

He said that Gujranwala has good potential in the industry especially the cutlery projects so the focus should be on the export of cutlery.

Meanwhile, Umar Ashraf Mughal said that modern machinery and high-tech labor can also increase our industrial production, which is likely to increase employment opportunities at the local level.

However, he said that in order to increase productivity, there is a need to introduce innovation in the local industrial structure which requires maximum resources from the government.

 

[ghazi52]

 

[ghazi52]

Pakistan earns $2123m from IT services’ export during FY 20-21

ISLAMABAD (APP): Pakistan earned US $2123.035 million by providing different information technology (IT) services in various countries during the fiscal year 2020-21.

This shows growth of 47.44 percent when compared to US $1439.970 million earned through provision of services during the corresponding period of fiscal year 2019-20, Pakistan Bureau of Statistics (PBS) reported.

During the period under review, the computer services grew by 50.32 percent as it surged from US $1108.690 million last fiscal year to US $1666.615 million during July-June (2020-21).

Among the computer services, the exports of software consultancy services witnessed increase of 35.50 percent, from US $408.974 million to US $554.180 million while the export and import of computer software related services also rose by 30.88 percent, from US $318.937 million to US $417.415 million.

The exports of hardware consultancy services decreased by 71.84 percent from, US $1.957 million to US $0.551 million whereas the exports of repair and maintenance services also decline by 56.19 percent from $1.511 million to $0.662 million.

In addition, the exports of other computer services rose by 83.88 percent from US$ 377.311 million to US $ 693.807 million.

Meanwhile, the export of information services during the period under review increased by 56.47 percent by going up from US $ 2.550 million to US $3.990 million. Among the information services, the exports of news agency services increased by 69.41 percent, from US $ 1.360 million to US $ 2.304 million whereas the exports of other information services also increased by 41.68 percent, from US $ 1.190 million to US $ 1.686 million.

The export of telecommunication services also witnessed an increase of 37.63 percent as these went up from US $328.730 million to 452.430 million during the fiscal year under review, the data revealed.

Among the telecommunication services, the export of call centre services increased by 22.10 percent during the period as its exports increased from US $ 125.964 million to US $153.806 million whereas the export of other telecommunication services also increased by 47.28 percent, from US $202.766 million to US $298.624 million during the period under review, the PBS data revealed.

 

[ghazi52]

China has become the main export destination of Pakistani pine nuts.

According to the data released by the International Nut and Dried Fruit Council, China is the second largest consumer of pine nut. In 2018, the pine nut consumption in China amounted to approximately 3,474 tons, about 1.2 times the average annual output of Pakistan in recent five years.

As one of the three major pine nut varieties in the Chinese market, Pakistani pine nuts enjoy a high premium and are listed as high-end snacks. A bag of 250g Pakistani pine nuts costs about RMB 80 (about Rs 2,033), nearly twice that of other Chinese pine nut varieties.

The favor of Chinese consumers for Pakistani pine nuts has driven huge import demand, and China has become the main export destination of Pakistani pine nuts.

According to the data released by Pakistan Agriculture Marketing Information Service, Pakistan exported 692 tons and 73.9 tons of pine nuts to China in fiscal year 2018-19 (July 2018 June 2019, bumper harvest of Pakistani pine nuts) and 2019-20 (lean year for Pakistani pine nuts), respectively, with a value of Rs 820 million and Rs 190 million, accounting for 45.86% and 14% of the total export of Pakistani pine nuts.

 

[ghazi52]

Readymade garment exports witnesses record increase of 9.83pc

The exports of Ready-made garments during the first month of FY 2021-22 grew by 9.83 per cent as compared to the exports of the corresponding period of last year.

During the period from July 21, Ready-made garments worth US $301,188 thousand were also exported in the current financial year as compared to the exports of valuing the US $ 274,237 of the same period of last year.

According to the data released by the Pakistan Bureau of Statistics, the exports of Bed wear were increased by 8.28pc, worth US $263,343 were exported as compared to the US $ 243,198 of the same period last year

 

[AZADPAKISTAN2009]

If Exports are Rising why is the Dollar Rising in Price?

Country needs to build up Oil and Gold Reserves

 

[CrazyZ]

If Exports are Rising why is the Dollar Rising in Price?

Country needs to build up Oil and Gold Reserves

Too much increase in imports plus dollar strength (due to potential interest rate rise). Pakistan must look to develop its shale oil production to reduce imports.

 

[Bossman]

If Exports are Rising why is the Dollar Rising in Price?

Country needs to build up Oil and Gold Reserves

Imports are also rising. They were expected to rise due improved economic activity and higher important of plants and machinery. There is always a lag effect.

 

[Baby Leone]

Pakistan’s regional exports increase 20.50% in July 2022


The Frontier Post

ISLAMABAD (APP): Pakistan’s exports to the seven regional countries witnessed an increase of 20.50 percent in first months of current financial year (2021-22) as compared to the corresponding month of last year.

The country’s exports to the regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal, and the Maldives account for a small amount of $282.020 million, which is 12.49 percent of Pakistan’s overall exports of $2257.042 million in July 2021-22, State Bank of Pakistan (SBP) reported.

China tops the list of countries in terms of Pakistan’s exports to its neighbours, leaving behind other countries such Bangladesh and Afghanistan.

Pakistan carried out its border trade with the farther neighbour Sri Lanka, India, Nepal and Maldives.
Pakistan’s exports to China posted growth of 55.26 percent to $165.878 million in July 2022 from $106.775 million in July 2021 While exports to Bangladesh also increased by 5.66 percent to $51.033million from $48.297 million.

The country’s exports to Afghanistan however dropped by 38.57 percent to $38.557million this year from $62.774 million whereas exports to India plunged by a whopping 87.81pc to $0.054 million from $0.443 as the government has suspended trade relations with India.

Similarly, exports to Sri Lanka rose by 68.55 percent to $235.991 million from $15.420 million in the previous year.

Exports to Nepal declined by 39.86 percent to $0.273 million from 0.454million while to Maldives dipped by 1.21 percent to 0.325 million from 0.329million, it added.

On the other hand, the imports from seven regional countries were recorded at $1350.535 million during July 2022 compared to $ 1131.427 million during July 2021, showing increase of 19.36 percent.

The imports from China during July 2022 were recorded at $1311.976 million against the $1100.268 million during July 2021, showing an increase of 19.24 percent during the period.

Among other countries, imports from India worth $12.405 million against the imports of $15.833 million, decrease of 1.52 percent while imports from Afghanistan increased by 194.23 percent from $4.216 million to $12.405 million.

Meanwhile, imports from Sri Lanka witnessed 2.62 percent decline from $7.096 million to $6.910 million whereas Pakistan Imports from Bangladesh recorded at $ 3.518 million from $3.948 million during July 2021.

The imports from Nepal into the country witnessed decline of 4.54 percent from $0.066 million to $0.063 million, it added.

article doesn't make sense at all.

 

[ghazi52]

Exports increase by 24% to Rs742,259 mln in two months

Mon, 20 Sep 2021, 2:59 PM

ISLAMABAD, Sep 20 (APP) : The exports from the country in rupee term witnessed an increase of 23.86 per cent during the first two months of the current fiscal year as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS provisional figures issued by PBS, the exports from the country during July-August 2021-22 were recorded at Rs742,259 million as against the exports of Rs599,255 million during July-August 2020-21.

Meanwhile, on year-on-year basis, the exports from the country increased by 38.87% in August compared to the exports of August, 2020. The exports during August, 2021 amounted to Rs. 368,847 million against the exports of Rs. 265,600 million during August, 2020.

On month on months basis, the exports increased by 1.22% when compared to the exports of Rs. 373,412 million in July, 2021.

The main commodities of exports during August, 2021 were knitwear (Rs. 59,761 million), readymade garments (Rs. 46,565 million), bed wear (Rs. 43,448 million), cotton cloth (Rs. 30,880 million), cotton yarn (Rs. 16,987 million), rice (Rs. 14,765 million), towels (Rs.13,586 million), madeup articles (excl. towels & bedwear) (Rs.10,845 million), Basmati rice (Rs.8,285 million) and fruits (Rs.6,355 million).

On the other hand, Imports during July–August, 2021 totaled Rs. 1,971,740 million as against Rs. 1,168,727 million during the corresponding period of last year showing an increase of 68.71%.

Likewise, Imports during August, 2021 amounted to Rs. 1,081,961 million as against Rs. 889,779 million in July, 2021 and Rs. 556,064 million during August 2020 showing an increase of 21.60% over July, 2021 and of 94.57% over August 2020.

Main commodities of imports during August, 2021 were petroleum products (Rs. 146,370 million), medicinal products (Rs.74,712 million), petroleum crude (Rs.72,609 million), natural gas, liquefied (Rs. 62,316 million), Palm Oil (Rs. 53,005 million), plastic materials (Rs. 43,624 million), iron & steel (Rs.38,773 million), electrical machinery & apparatus (Rs.35,333 million), power generating machinery (Rs.28,834 million) and iron & steel scrap (Rs. 28,731 million).

 

[Maula Jatt]

Exports increase by 24% to Rs742,259 mln in two months

Mon, 20 Sep 2021, 2:59 PM

ISLAMABAD, Sep 20 (APP) : The exports from the country in rupee term witnessed an increase of 23.86 per cent during the first two months of the current fiscal year as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS provisional figures issued by PBS, the exports from the country during July-August 2021-22 were recorded at Rs742,259 million as against the exports of Rs599,255 million during July-August 2020-21.

Meanwhile, on year-on-year basis, the exports from the country increased by 38.87% in August compared to the exports of August, 2020. The exports during August, 2021 amounted to Rs. 368,847 million against the exports of Rs. 265,600 million during August, 2020.

On month on months basis, the exports increased by 1.22% when compared to the exports of Rs. 373,412 million in July, 2021.

The main commodities of exports during August, 2021 were knitwear (Rs. 59,761 million), readymade garments (Rs. 46,565 million), bed wear (Rs. 43,448 million), cotton cloth (Rs. 30,880 million), cotton yarn (Rs. 16,987 million), rice (Rs. 14,765 million), towels (Rs.13,586 million), madeup articles (excl. towels & bedwear) (Rs.10,845 million), Basmati rice (Rs.8,285 million) and fruits (Rs.6,355 million).

On the other hand, Imports during July–August, 2021 totaled Rs. 1,971,740 million as against Rs. 1,168,727 million during the corresponding period of last year showing an increase of 68.71%.

Likewise, Imports during August, 2021 amounted to Rs. 1,081,961 million as against Rs. 889,779 million in July, 2021 and Rs. 556,064 million during August 2020 showing an increase of 21.60% over July, 2021 and of 94.57% over August 2020.

Main commodities of imports during August, 2021 were petroleum products (Rs. 146,370 million), medicinal products (Rs.74,712 million), petroleum crude (Rs.72,609 million), natural gas, liquefied (Rs. 62,316 million), Palm Oil (Rs. 53,005 million), plastic materials (Rs. 43,624 million), iron & steel (Rs.38,773 million), electrical machinery & apparatus (Rs.35,333 million), power generating machinery (Rs.28,834 million) and iron & steel scrap (Rs. 28,731 million).

imports increased by 60% north...
need to get it balanced