Pakistan Export Updates

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Pakistan’s exports of leather-made products jumped by 8.5 percent during the first nine months of the current fiscal year 2021-22 compared to the corresponding period of last year.

As per PBS data, the leather products exports were recorded at $464 million in July-March 2021-22 against the exports of $428 million in July-March 2020-21.

The leather commodities that contributed to trade growth included leather garments, the exports of which increased by 7.95 percent from $219.592 million last year to $237.055 million this year. Likewise, exports of leather gloves increased by 8.74 percent from $195.870 million to $212.987 million, and other leather products increased by 13.08 percent from $12.261 million last year to $13.865 million this year.

Meanwhile, leather commodities exports decreased by 9.12 percent in March 2022 compared to the same month of last year. The exports in March 2022 were recorded at $41.528 million against exports of $45.696 million in March 2021.

Exports of leather gloves decreased by 11.84 percent from $24.584 million to $21.674 million, while exports of other leather products increased by 2.74 percent from $1.313 million last year to $1.349 million this year. Leather garments exports decreased by 6.54 percent from $19.799 million last year to $18.505 million this year.

 

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ISLAMABAD: Export of services grew 17.07 per cent in the first nine months of the current fiscal year from a year ago, according to the latest data released by the Pakistan Bureau of Statistics on Saturday.

In absolute terms, the value of export of services reached $5.15bn between July-March 2021-22 from $4.40bn over the corresponding months of last year.

Year-on-year, the export of services grew by 20.19pc to $668.29m in March against $556.03m in the same month last year. However, on a month-on-month basis, export of services increased 24.93pc.

The export of services increased 9.19pc to $5.937bn in FY21 compared to $5.437bn in the preceding year.

The highest-ever growth in IT related services pushed up the the overall export figure. Services exports also include finance and insurance, transport and storage, wholesale and retail trade, public administration and defence sectors.

The commerce ministry has projected services export target at $7.5bn for 2021-22.

The services sector has emerged as the main economic growth driver by contributing 61pc to GDP in 2020-21 from 56pc in 2005-06.

Simultaneously, the import of services also rose 31.33pc to $8.33bn in July-March period of 2021-22 against $6.34bn in the corresponding months last year.

The import of services grew 25.29pc to $932.15m in March against $744m in the same month last year. On a month-on-month basis, it posted a negative growth of 12.87pc.

The import of services fell 10.75pc to $7.812bn in FY21 from $8.753bn in the preceding year.

The trade deficit in services increased by 63.64pc to $3.17bn in 9MFY22 against $1.94bn in 9MFY21. In March, the trade deficit widened by 40.37pc to $263.86m from $187.97m in the same month last year.

The PTI government announced several measures in the budget 2021-22 for the promotion of export of services, especially information technology.

Published in Dawn, May 8th, 2022

 

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The exports from the country witnessed an increase of 25.46 percent during the first ten months of the current fiscal year (2021-22) as compared to the corresponding months of last year, Pakistan Bureau of Statistics (PBS) reported.

According to PBS data, the exports from the country were recorded at $26.228 billion during July-April (2021-22) against the exports of $20.905 billion recorded during July-April (2020-21), showing growth of 25.46 percent.

The imports during the months under review also went up by 46.41 percent by growing from $44.731 billion last year to $65.492 billion in July- April (2021-22).

Based on the data, the trade deficit during the period under review was recorded at $39.264 billion, showing an increase of 64.79 percent over the deficit of $23.826 billion recorded during July- April (2020-21), the PBS data revealed.

Meanwhile, on year-on-year basis, the exports of the country increased by 29.53 percent during April 2022 as compared to the exports of same month of last year.
The exports during April 2022 were recorded at $2.873 billion against the exports of $2.218 billion in April 2021, the data revealed.

The imports into the country increased from $5.242 billion in April 2021 to $6.615 billion in April 2022, showing growth of 26.19 percent.

On month-on-month basis, the exports from the country witnessed growth of 3.27 percent during April 2022 as compared to the exports of $2.782 billion recorded during March 2022.

On the other hand, the imports into the country during April 2022 witnessed increase of 2.96 percent as compared to the imports of $6.425 billion in March 2022, according to the PBS data.

 

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Pakistan’s exports to China crossed $1.039 billion in the first quarter of 2022, recording a nearly 17% increase from January to March this year, as per the General Administration of Customs of China (GACC).

According to data from GACC, in the first three months of this year, China’s exports to Pakistan also increased 28.69% amounting to $6.058 billion as compared with the previous year, when exports were valued at $4.70 billion.

Pakistani Embassy in Beijing’s Commercial Counsellor Badaruz Zaman said after the implementation of the second phase of China-Pakistan Free Trade Agreement (FTA) in 2020 – which allowed Pakistani manufacturers and traders to export around 313 new products to the Chinese market with zero duties – and with the deepening of economic and trade cooperation between the two countries, bilateral trade is increasing every year.

“Now Pakistani traders can export overall more than 1,000 items to China at zero tariffs, which helped enhance Pakistan’s exports to China,” he stated.

He further said that the second phase of China-Pakistan Economic Corridor (CPEC) with special focus on agriculture, science and technology, and socioeconomic development also assisted the expansion of cooperation.

Besides, the enhanced agricultural cooperation over the last two to three years between the two countries, especially in hybrid seeds, latest technologies, pesticides, and urea, “helped increase the production of crops and this surplus yield helped increase exports to China”.

Among major products traded between the two countries, the trade in textiles, seafood, and agricultural products have increased year on year, which has promoted Pakistan’s economic recovery and increased its exports to China.

 

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Among major products traded between the two countries, the trade in textiles, seafood, and agricultural products have increased year on year, which has promoted Pakistan’s economic recovery and increased its exports to China.

It would be interesting to see the figures for textile export from Pakistan to China. This is the only category of manufactured goods that is listed in the article as a significant contribution. Specially interesting considering that China itself is the largest textile producing and exporting country in the world.

 

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Pakistan has exported its first vehicle – made by Master Changan Motors – under the new Auto Industry Development and Export Policy (AIDEP 2021-26), according to a press release issued by the company on Thursday.

The press release stated that under the new auto policy, all OEMs would require to initiate vehicle exports to help develop the local industry and expand the export capability of the country. The Changan Oshan X7, which is the country’s first export unit under the new policy, is the first vehicle to be launched through a global RHD premiere earlier in March 2022.

Pakistan is the only country outside of China to produce the latest model of Changan Oshan X7.

The press release quoted the company's CEO Danial Malik in a ceremony in Karachi, “We are delighted and proud to lead Pakistan into a new chapter for the auto industry and make its mark on a global level”.

“The Changan Oshan X7 is the first of many more vehicles to be exported under our vision to stay Future Forward, Forever and the Auto Industry Development and Export Policy (AIDEP 2021-26)”, he added.

The company further added that Pakistan is Changan’s first and only RHD manufacturing base and is helping the brand expand globally.

It added that the state-of-the-art plant was completed in a record time of just 13 months and now has the capacity to produce 50,000 vehicles annually.

“Master Changan is our first RHD production base and we are very happy to export our RHD Oshan X7 SUV from Pakistan”, Steven Zhao – Vice CEO Master Changan Motors Limited stated.

 

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The Organic Meat Company Ltd. (TOMCL), a Pakistani meat processing company, has been awarded contracts worth $2.2 million for the export of its prodcuts to the Middle East, the company announced in a notice to the Pakistan Stock Exchange (PSX) on Friday.

It said it has become “the first company to secure a contract to supply ‘Fresh-Chilled Bone-in Beef’ to Jordan” in a deal worth roughly $1.6 million, which will be fulfilled over the course of the next 12 months. It has also secured a contract valued at about $0.6 million to supply ‘Commercially-Branded Frozen Bone-in Beef’ to Kuwait, which shall be fulfilled by December 2022.

“These contracts shall have positive impacts on our company’s business, as well as generate good value to its shareholders,” it said.

Back in December, the Ministry of Agriculture of Jordan awarded approval to three slaughterhouses in Pakistan - Tata Best Foods, TOMCL and Tazij Meats - for export of for export for bovine, sheep, goat and camel meat to Jordan.

 

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Textile exports jump 26pc to $16bn in July-April​

The Newspaper
May 15, 2022

ISLAMABAD: Exports of textile and clothing grew 25.96 per cent year-on-year to $15.98 billion in the first 10 months of this fiscal year on the back of a massive rupee depreciation and a steady rise in global demand.

The textile and clothing exports grew 30.50pc year-on-year in April, showed data released by the Pakistan Bureau of Statistics (PBS) on Saturday.

The ready-made garment exports jumped 27.95pc in value and 41.09pc in quantity during July-April 2021-22, while the export of knitwear soared 35.14pc in value but dipped 2.64pc in terms of quantity. Bedwear exports grew 19.01pc in value and 13.43pc in quantity.

Towel exports were up by 19.46pc in value and 5.16pc in quantity, whereas those of cotton cloth rose by 26.81pc in value and 7.14pc in quantity.

Among primary commodities, cotton yarn exports increased 22.11pc and those of yarn made from material other than cotton increased by 100pc. The exports of made-up articles — excluding towels — rose by 13.08pc, while those of tents, canvas and tarpaulin dipped by 4.62pc during the period under review. The export of art, silk and synthetic textile increased by 27.73pc during the months under review.

The import of textile machinery jumped 56.38pc in July-April year-on-year to $678.452m, reflecting expansion or modernisation in the textile industry.

For bridging the shortfall in the domestic sector, the industry imported raw cotton in July-April value of which posted an increase of 19.15pc, while the import value of synthetic fibre posted a growth of 25.92pc, followed by the import of synthetic and artificial silk yarn 27.15pc during the months under review.

The import of worn clothing recorded a growth of 59.61pc in the first 10 months of the current fiscal year from a year ago.


During the 10-month period, the country’s overall exports posted a year-on-year growth of around 25.56pc to reach $26.24bn from $20.90bn in the same period last year.

The PTI government had unveiled textile and apparel policy last month with various measures to promote production and quality of the textile and clothing. In the budget 2021-22, the government drastically reduced duty and taxes on imports of several hundred raw materials to bring down the input cost of exportable products.
Liquidity issues were resolved to a considerable extent by timely release of refunds, customs rebates and the payment of cash subsidies.

Published in Dawn, May 15th, 2022

 

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Rice exports increase 17.21% in 10 months, reach $2.051 billion​

The Frontier Post

ISLAMABAD (APP): Rice exports from the country during 10 months of current financial year witnessed about 17.21% increase as compared the corresponding period of last year.

During the period from July-April, 2021-22 4,044,269 metric tons of rice valuing $2.051 billion exported as against the exports of 3.190,559 metric tons worth $1.750 billion of same period of last year, according the data of Pakistan Bureau of Statistics.

Meanwhile, basmati rice exports from the country during the period under review also grew by 22.12% and other rice by 15.44% respectively as 532,407 metric tons of basmati rice valuing 574.220 million exported as compared the exports of 508,691 metric tons worth $470.195 million of same period of last year.

In last 10 months of current fiscal year, country earned $1.477 billion by exporting about 3,411,862 metric tons of rice other then basmati as against the exports of 2,681,868 metric tons worth of $1.279 billion of same period last year.

On month on month basis, rice exports from the country grew by 36.94% in April, 2022 as 461.513 metric tons of rice valuing $511.806 million as against 307,546 metric tons worth of $189.616 million of same month of last year.

It is worth mentioning here that the food group imports into the country during the month of April, 2022 food group imports into the country decreased by 12.61% and recorded at $697.866 million as against the imports of $777.958 million of same month of last year.

In last 10 months of current financial year, different food commodities valuing $7.747 billion imported as compared the imports of $6.899 billion of same period last year.

During the period from July-April, 2021-22 food group imports into the country witnessed about 12.30% increase as compared the imports of of the corresponding period of last year.

 

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The country’s total textile exports have posted a growth of around 29% YoY to $15 billion in 10MFY22 as compared to $11.7bn in the corresponding period of FY21, data issued by the State Bank of Pakistan (SBP) showed.

In April 2022, textile products remained the major exportable goods for Pakistan as this group accounted for 50% of the total exports during the review month. The overall exports of the textile group showed a notable growth of 24% YoY to $1.58bn compared to $1.27bn recorded in the same period of last year. whereas, on MoM basis, the exports dipped by 7.27% in March 2022.

During the month, key contributing products under the textile head were knitwear ($400mn), readymade garments ($358mn), and bedwear ($239mn) with a growth of 37.15% YoY, 35.27% YoY, and 7.08% YoY, respectively when compared to April 2021.
The food group remained the second most contributing group in total exports.

However, the trade value of this group stood at around $549mn, showing a drop of 0.13% MoM while on yearly basis, it shows a surge of 25.18% YoY compared to $550mn in March 2022 and $439mn in April 2021, respectively.

Under the same group, rice remained the major source of foreign exchange earnings as the export value of rice during April 2022 stood at $299.94mn posted a decline of 4.37% MoM whereas the export of the same commodity jumped by 41.66% YoY compared to $211.73mn in April 2021.

Meanwhile, the export of fish & fish preparations stood at $45.77mn in April 2022, squeezed by 14.28% YoY while on monthly basis, the exports of fish inched up 13.34% MoM. In 10MFY22, exports of fish reported an increase of 1.45% to $351.2mn compared to the same period last year.

Exports of surgical goods & medical instruments climbed up by 13% MoM to clock in at $46.52mn while the exports of leather manufactured dropped by 1.58% MoM to $57.9mn. on the other hand, the export of sports goods inched up by 4.42% MoM to $46mn in April 2022.

Likewise, the exports of chemical and pharmaceutical products decreased to $152.26mn, down by 10.37% MoM. However, on yearly basis, the export of the same commodity increased by 30.24% YoY.

Cumulatively, during July-April FY22, the exports of chemical and pharmaceutical products, leather manufacturers, and surgical goods and medical instruments manufactured products saw an increase of 4.83%, 1.84%, and 1.47% YoY, respectively.

Moreover, the share of the Petroleum group in the country’s total export basket was only 0.74% in April 2022. During that period, the country earned $5.6mn from exports of petroleum products and $18mn from solid fuel including Naphta.

 

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The United States remained the top export destinations of Pakistani products during the ten months of fiscal year (2021-22), followed by China and United Kingdom (UK).

According to the State Bank data, total exports to the USA during July-April (2021-22) were recorded at 5616.739 million dollars against the exports of 4020.901 million dollars during July-April (2020-21), showing a growth of 39.68 percent.

This was followed by China, wherein Pakistan exported goods worth 2342.526 million dollars against the exports of 1641.283 million dollars during last year, showing an increase of 42.72 percent.

UK was the at third top export destination, where Pakistan exported products worth 1851.389 million dollars during the months under review against the exports of 1692.370 million dollars, showing growth of 9.39 percent.

 

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The government decided to export 500,000 tonnes of Sugar. According to the Finance Ministry, Federal Minister for Finance and Revenue Miftah Ismail.

The federal government decided to export 250,000 tonnes of sugar in the first phase, while 250,000 tonnes in the second phase.Currently, the price of sugar per tonnes in the international market is USD560, hence the export of 500,000 tonnes of sugar will fetch Pakistan USD280 million.

 

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Cotton yarn exports from the country increased by 22.11 percent in the first ten months of this fiscal year compared to the same time the previous year.

According to Pakistan Bureau of Statistics statistics, between July and April 2021-22, roughly 284,670 metric tons of cotton yarn worth $1.006 billion were exported, compared to 327,519 metric tons worth $832.952 million during the same time previous year.

 

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The export earnings from telecommunication, computer and information services grew 29.29 per cent to $2.19bn during July-April 2021-22 against $1.7bn in the same period last year.

Despite improved performance by the IT and telecom sector in the outgoing fiscal year, the sector is less likely to achieve its export target of $3.5bn by the end of June. However, the Economic Survey 2021-22 released on Thursday highlighted that the Ministry of IT and Telecom and all its subordinate departments showed improvements in their performance, and the sector was a significant source of revenue generation for the national exchequer.

From July 2021 to March, the telecom sector contributed around Rs163.3bn to the national exchequer in terms of taxes, regulatory fees, initial and annual license fees, activation tax, and other taxes.

During this period the Personal Data Protection Bill has been approved, to counter rising cyber crimes.

The foreign and local investments in the telecom sector in July-February 2021-22 crossed $930.1m, and the total number of mobile and fixed-line subscriptions reached 194.2 million, with a net addition of 6.7m subscribers compared to the same period of last year..

 

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In a first: Pakistan's D.G. Khan plans to export cement to US: report​

• Ship is being loaded at Karachi port for delivery to Houston, says CFO

BR
14 Jun, 2022

D.G. Khan Cement Company is in process to ship 50,000 tons of cement to the US, reported Bloomberg on Tuesday, a welcome development for Pakistan that is desperately seeking an increase in exports in the face of a widening trade deficit that has pushed the rupee to record lows.

Company CFO Inayat Ullah Niazi stated that a ship was currently loading cement at a port in Karachi for delivery to Houston, added the report.

The development comes at a time when the country's exports registered negative growth of 10.22% on a monthly basis in May 2022, clocking in at $2.6 billion from $2.897 billion in April 2022, according to latest figures released by the Pakistan Bureau of Statistics (PBS).

D.G. Khan Cement, one of Pakistan's largest cement makers, posted a 26% higher profit during the nine-month period that ended March 31, 2022 with earnings amounting to Rs4.1 billion. The company had posted earnings of Rs3.25 billion in the same period of 2020-21.
In 2020, DG Khan Cement won orders for export of cement to the Philippines.

Meanwhile, in a report published earlier, JS Global analyst Muhammad Waqas Ghani stated that continuously rising coal prices and rupee depreciation have led to the procurement of coal at higher rates by cement manufacturers, requiring them to raise domestic prices by Rs40 per bag during the last few weeks.

With an almost 50% (Rs300 per bag) increase in the last 12 months, further price increments would be needed to neutralise the coal cost impact, if prices remain elevated, added Ghani.

"If coal prices stay at these high levels, 4QFY22 profitability will likely be impacted given higher average cost of coal inventory."