Pakistan Export Updates

[ghazi52]

December textile exports reach historic high

January 16, 2021

Textile exports during December 2020 increased by 22.72 percent to a historic high of $1.401 billion compared to $1.14bn in the corresponding month of last year. — File photo


ISLAMABAD: Textile exports during December 2020 increased by 22.72 per cent to a historic high of $1.401 billion compared to $1.14bn in the corresponding month of last year, latest data released by the Pakistan Bureau of Statistics on Friday showed.

On a month-on-month basis, the country’s exports during the month increased by 9.20pc.
On a cumulative basis, the textile exports increased by 7.79pc to $7.442bn in July-December against $6.904bn in the same period last year, the data showed.

The textile commodities that contributed to positive trade growth included knitwear, exports of which increased to $1.849bn during 1HFY21 compared to $1.586bn last year. Likewise, bedwear exports increased by 16.38pc to $1.394bn; towels exports increased by 17.47pc to $445.709 million.

The exports of tents, canvas and tarpulin grew by 57.77pc to $62.477m; readymade garments by 5.54pc to $1.490bn; art, silk and synthetic textile increased by 0.17pc to $167.502m; made-up article by 17.46pc to $379.229m.

Meanwhile, exports of the commodities that witnessed negative growth included raw cotton, declining by 96.14pc to $0.592m while those of cotton yarn decreased by 26.36pc to $400.730m.
In addition, exports of cotton cloth also decreased by 7.73pc to $935.009m and yarn (other than cotton yarn) by 7.28pc to $13.464m.

It is pertinent to mention here that the country’s merchandise exports increased by 4.98pc during the first half of the current fiscal year as compared to the corresponding period of last year.

The total exports from the country during July-December were recorded at $12.110bn against $11.524bn during the same period last year, according to the latest PBS data.

The imports into the country during the period under review also increased by 5.72pc by growing from $23.195bn last year to $24.521bn during the first half of current fiscal year.
Based on the figures, the country’s trade deficit increased by 6.44pc during the first half compared to the corresponding period of last year. The trade deficit during the first six months of the current fiscal year was recorded at $12.423bn against the deficit of $11.671bn last year.


Published in Dawn, January 16th, 2021

 

[ghazi52]

 

[FuturePAF]

Has the Locust problem also ended? If the locust are gone, can we expect crop and cotton yields to go up dramatically this year?

 

[ghazi52]

Exports increase 9.7% to Rs1.97 trillion in H1


The Frontier Post
January 17, 2021


ISLAMABAD (APP): The exports from Pakistan in rupee increased by 9.7 percent during the first half (H1) of the current fiscal year as compared to corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The exports during July-December (2020-21) were recorded at Rs1,978,764 million as against Rs1,803,776 million during July- December (2019-20), showing an increase of 9.7 percent, according to provisional data of PBs.

On year-on-year basis, the exports from Pakistan during December, 2020 amounted to Rs378,792 million as against Rs308,032 during December 2019, showing growth of 22.97 percent.

On month-on-month basis, the exports increased by 9.59 percent in December 2020 when compared to the exports of Rs345,640 million in November, 2020.

The main commodities of exports during December, 2020 were knitwear (Rs54,761 million), readymade garments (Rs45,609 million), bed wear (Rs40,981 million), rice (Rs26,658 million), cotton cloth (Rs25,907 million), cotton Yarn (Rs15,396 million), fruits (Rs13,504 million), towels (Rs13,288 million), madeup articles, excluding towels and bedwear (Rs11,547 million) and Basmati rice (Rs10,596 million).

On the other hand, the imports into the country during July – December, 2020 totaled Rs3,999,061 million as against Rs3,630,229 million during the corresponding period of last year, showing an increase of 10.16 percent.

Meanwhile, Imports into Pakistan during December, 2020 amounted to Rs801,162 million as against Rs683,354 million in November, 2020 and Rs622,709 million during December 2019, showing an increase of 17.24 percent over November, 2020 and of 28.66 percent over December 2019.

The main commodities of imports during December, 2020 were petroleum products (Rs56,500 million), wheat unmillied (Rs40,598 million), petroleum crude (Rs38,052 million), palm Oil (Rs37,754 million), plastic materials (Rs. 35,421 million), mobile phone (Rs34,378 million), natural gas, liquefied (Rs29,019 million), iron and steel scrap (Rs26,812 million), raw cotton (Rs24,831 million) and power generating machinery (Rs24,427 million).

 

[ghazi52]

Pharmaceutical exports increase 23.62pc in 1st half of FY 2020-21

The pharmaceutical exports were recorded at US $138.751 million during July-December (2020-21), showing growth of 23.62 percent.


APP
19 Jan 2021


ISLAMABAD: The exports of pharmaceutical products from the country witnessed an increase of 23.62 percent during the first half of ongoing financial year (2020-21) as compared to the exports of corresponding period of last year.

The pharmaceutical exports were recorded at US $138.751 million during July-December (2020-21) as against the export of US $112.238 million during July-December (2019-20), showing growth of 23.62 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of pharmaceutical products also increased by 31.61 percent by going up from 7,428 metric tons to 9,776 metric tons, according to the data.

Meanwhile, year- on- year basis the pharmaceutical goods export increased by 26.53 percent during the month of December 2020 as compared to the same month of last year.

The pharmaceutical exports in December 2020 were recorded at US $24.700 million against the export of $19.521 million in December 2019, the PBS data revealed.

On month- on- month basis, the exports of pharmaceutical witnessed nominal increase of 1.07 percent in December 2020 when compared to $24.438 million in November 2020.

It is pertinent to mention here that the country’s trade deficit witnessed an increase of 5.93 percent during the first six months of financial year 2020-21 as compared to the corresponding period of last year.

The exports witnessed increase of 5.09% and reached to $12.110 billion against the exports of $11.524 billion of the same period of last year.

On the other hand, the country’s imports also rose by 5.51% and went up from $23.195 billion last fiscal year to $24.473 billion of same period of fiscal year 2020-21.

Based on the figures, the trade deficit during the period under review was recorded at $12.363 billion against the deficit of $11.671 billion during last year, showing increase of 5.93 percent.

 

[ghazi52]

Pakistan can take IT exports to $10b

OICCI report highlights importance of stable regulatory practices to attract FDI


Our Correspondent
January 19, 2021

KARACHI: Pakistan has the potential to enhance its IT exports to $10 billion from the current $2 billion, said a report released by the Overseas Investors Chamber of Commerce and Industry (OICCI).

The report titled “OICCI Recommendations for Digital Economy” highlighted the much-needed shift required to capture the opportunity of digital transformation happening within and outside Pakistan through a new mindset.

“By digitising most, if not all, key segments of the economy could boost IT exports to $10 billion annually, provide a significant growth to gross domestic product (GDP), attract billions of dollars in foreign direct investment (FDI) and create new jobs within a short period,” the report added.

It highlighted the FDI potential by creating an enabling environment for investment in the platform and hi-tech ecosystem so that Pakistan could attract global IT platform players and venture capital funds to accelerate innovation.

The OICCI digital recommendations cover six key areas which include connectivity, digital financial system, export growth and digital skills, platforms and e-commerce ecosystem, innovation and regulatory environment, and digital governance and citizen services.

Highlighting the potential for IT exports, OICCI President Haroon Rashid said, “While IT exports from Pakistan are only worth $1-2 billion, the Philippines, with half the population of Pakistan, exports IT services worth about $30 billion, India over $190 billion and many other Asian countries are also well ahead of Pakistan,”

“This should be a cause for great concern to the authorities but at the same time could be a motivational factor as Pakistan has great potential to boost its IT exports with a focused short and medium-term strategy and its delivery by key stakeholders.”

The report underlined the importance of stable and inclusive regulatory practices to ensure effective participation of global players in platform economy to attract FDI, make a significant positive impact on GDP growth and connect Pakistan to global e-commerce and creative economy opportunity.

While acknowledging the recent inauguration of Special Technology Zones, the report pointed out, “However, for immediate gains, OICCI has recommended the need to establish a digital mechanism to provide ease of doing business coverage in public-private partnership to bring 5-10 million square feet of space quickly in utilisation through virtual authority.”

Other recommendations include the need to massively improve the quality and stability of connectivity by pushing a “fiberisation drive”, accelerated focus on digital financial services by removing existing friction, enabling the country to be integrated with global chains and improved citizen and business services, through digital governance, which can significantly help in terms of service efficiency and image of the country.

With a highly improved security environment, duly recognised by independent sources, and an attractive operating cost, in terms of hard currencies, following massive depreciation of the rupee, the OICCI emphasised the need for sustained and structured efforts for improving the global image of Pakistan as an attractive destination for FDI, especially for large international technology players.


Published in The Express Tribune, January 19th, 2021.

 

[ghazi52]

Traders urge simplification of export procedures, laws

The Frontier Post
January 22, 2021


PESHAWAR: Trading community has urged the State Bank of Pakistan (SBP) and Pakistan Customs to simplify the procedures and removal of complicated laws to boost national exports and enhance the regional trade.

The demand was made during an awareness seminar titled ‘Foreign Exchange’ jointly organized by Sarhad Chamber of Commerce and Industry and State Bank of Pakistan (SBP) here in Chamber House on Friday.
The event was chaired by SCCI president Sherbaz Bilour and senior vice president EngrManzoorElahi. Besides, the chamber former vice president Abdul Jalil Jan, executive body members Zahoor Khan, Muhamamd Auranzeb, Khalid Shahzad, Ihsanullah, Imtiaz Ahmad, Saddar Gul, FaizRasool, Shamsul Rahim, Jawad Kazmi, senior officials from State Bank of Pakistan Faizan Umar, Amir Mumtaz, Addl Collector Customs Zakir Khan an official of Soneri Bank Sherhyar Amjad, Smeda provincial chief Rashid Aman, traders, exporters and importers attended the seminar at large.

The speakers pointed out the problems being faced by exporters and importers regarding export form [E-Form], export development surcharge, export in US dollar against PKR (Pakistan rupees) and other issues.
The meeting thoroughly held deliberations on aforementioned issues and suggested a number of proposals for their amicable resolution.

The participants asked the commercial banks to facilitate the business community regarding export form [E-form] so that it can help to improve bilateral trade between Pakistan and Afghanistan and rest of the regional countries.

The business community urged the SBP to issue directives to commercial banks in Khyber Pakhtunkhwa to allow and facilitate them while doing export to Afghanistan and central Asian countries in US dollar against the PKR so that can help to improve the regional trade and Pakistan’s export, besides stabilize the local economy.

Sherbaz Bilour called upon the government, the central bank, customs deptt and other relevant authorities to initiate measures to simplify the complicated laws and regulations to give a boost to regional trade.
The SCCI chief asked the SBP to issue directives to commercial banks in Khyber Pakhtunkhwa to allow export in US dollars against the Pakistani rupee, which can promote bilateral trade through using legal means and banking channels and improve the country’s export as well as stabilized the local economy.

Earlier, the SBP officials apprised the participants regarding the Foreign Exchange, different rules and regulation relating to exports and goals set in this regard.

On the occasion, SCCI SVP Engr Manzoor Elahi and others also spoke on the occasion and pointed out the bottlenecks that have hindered the bilateral trade with Afghanistan and regional countries and suggested a number of proposals for their amicable resolution.

 

[aziqbal]

increasing exports is one thing

creating the right condition for sustainable long term export growth is another

lets hope for continued growth

 

[ghazi52]

Exports to increase significantly in next 6 months: S M Muneer

Recorder Report
24 Jan 2021


KARACHI: United Business Group’s Patron in-Chief and former President FPCCI S M Muneer has expressed hope that Pakistan’s exports will increase significantly in the next six months and economy will improve further.

S M Muneer said that all the industries of the country have started benefiting from the increase in exports and the economy are continuously improving. The industries which were in deficit are now moving towards profit.

He hoped that all the industries of Pakistan would turn a profit in the next few months. He said that the industries were continuing their production process, the textile sector was doing well and other sectors would also enter the positive zone in the next few months.

He asked the government to provide incentives to exporters for further increase in exports, implementation of other relevant policies including textile policy and zero rating of textile sector.

SM Muneer said that covid-19 has spread very fast in Bangladesh and foreign buyers Instead of placing new orders there; they have started placing orders to Pakistan. Now orders are not going to Bangladesh.

The covid-19 in Pakistan has been reduced to some extent but people should continue to take measures to protect themselves from the corona virus and avoid shaking hands and meeting people. Unfortunately, people across Pakistan are careless.

At present, 4,000 people are dying daily from the corona virus in the United States, while 1,500 in England, 1,000 in Brazil, India and Bangladesh. New Zealand Prime Minister Jacinda Ardern has overcome Code 19 in her own country and other countries should follow the same spirit while Prime Minister of Canada Justin Trudeau has also taken strong measures to control Covid-19.

S.M Muneer said that we have taken a stand against the dishonesty and rigging in the recent FPCCI elections by the leaders of the Businessmen’s Panel and their presidential candidate Mian Nasser Hyatt Maggo. Our group UBG’s presidential candidate Khalid Tawab had won the presidential election in the federation election, but the three-member Election Commission had earlier voted for Khalid Tawab who was winning by one vote.

The votes of Mian Nasser Hyatt Maggo were equalized and when the contest was tied, after everyone left, the envelope which could only be opened in front of the DGTO or the court was opened automatically and one vote of Mian Nasser Hyatt Maggo was increased.

In a letter to the DGTO, the Election Commission has admitted that it had opened the sealed envelope and asked for 30 days, but the DGTO is set to hear the case in the next two days. He said that we have gone to the DGTO with all the evidence and got the justice soon.


Copyright Business Recorder, 2021

 

[ghazi52]

Pharmaceutical exports increase 23.62pc in 1st half of FY 2020-21

• The pharmaceutical exports were recorded at US $138.751 million during July-December (2020-21), showing growth of 23.62 percent.

APP
24 Jan 2021

ISLAMABAD: The exports of Pharmaceutical products from the country witnessed an increase of 23.62 percent during the first half of ongoing financial year (2020-21) as compared to the exports of corresponding period of last year.

The pharmaceutical exports were recorded at US $138.751 million during July-December (2020-21) as against the export of US $112.238 million during July-December (2019-20), showing growth of 23.62 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of pharmaceutical products also increased by 31.61 percent by going up from 7,428 metric tons to 9,776 metric tons, according to the data.

Meanwhile, year- on- year basis the pharmaceutical goods export increased by 26.53 percent during the month of December 2020 as compared to the same month of last year.

The pharmaceutical exports in December 2020 were recorded at US $24.700 million against the export of $19.521 million in December 2019, the PBS data revealed.

On month- on- month basis, the exports of pharmaceutical witnessed nominal increase of 1.07 percent in December 2020 when compared to $24.438 million in November 2020.

It is pertinent to mention here that the country’s trade deficit witnessed an increase of 5.93 percent during the first six months of financial year 2020-21 as compared to the corresponding period of last year.

The exports witnessed increase of 5.09% and reached to $12.110 billion against the exports of $11.524 billion of the same period of last year.

On the other hand, the country’s imports also rose by 5.51% and went up from $23.195 billion last fiscal year to $24.473 billion of same period of fiscal year 2020-21.

Based on the figures, the trade deficit during the period under review was recorded at $12.363 billion against the deficit of $11.671 billion during last year, showing increase of 5.93 percent.

 

[ghazi52]

Pakistan set to break record for Kinnow Exports.

Jan, 2021

Known as the Mandarin Hybrid fruit that delivers a flavor akin to none, markets such as Russia, Iran, and other Central Asian countries look forward to buying the fruit every year. Only last year, Pakistan earned its highest export revenue of $222 million from exports amounting to 370,000 tonnes of Kinnow.

As per reports, Pakistan’s total trade volume for Kinnow sits at Rs. 125 billion. Among major harvesting units, Faisalabad and Sargodha account for the majority of Kinnow yield, amassing 80% of total production in Pakistan last year.

On average, Pakistan exports 3 to 4 lac tonnes of Kinnow every year. Central Asian countries such as Tajikistan, Turkmenistan, and Uzbekistan are some of the main export destinations for the fruit, with Russia being the biggest buyer in the export markets

 

[ghazi52]

US, UK, China top three destinations of Pakistani exports in 1st half

• Total exports to the USA during July-December (2020-21) were recorded at US $ 2280.318 million, showing growth of 9.94 percent.

APP
27 Jan 2021







ISLAMABAD: United States of America (USA) remained the top export destinations of the Pakistani products during the first half of financial year (2020-21), followed by United Kingdom (UK) and China.
Total exports to the USA during July-December (2020-21) were recorded at US $ 2280.318 million against the exports of US $ 2074.080 million during July-December (2019-20), showing growth of 9.94 percent, according to State Bank of Pakistan (SBP).

This was followed by UK, wherein Pakistan exported goods worth US $ 956.498 million against the exports of US $ 863.333 million last year, showing increase of 10.79 percent.

China was the at third top export destination, where Pakistan exported products worth US $ 837.912 million during the months under review against the exports of US $936.858 million during last year, showing decline of 10.56 percent, SBP data revealed.

Among other countries, Pakistani exports to Germany stood at US $ 748.793 million against US $670.934 million during last year, showing increase of 11.60 percent while the exports to UAE were recorded at US $ 697.154 million against US $ 827.731 million last year, the data revealed.

During July-December (2020-21), the exports to Holland were recorded at US $516.107 million against US $502.087 million whereas the exports to Afghanistan stood at US $ 450.243 million against US $543.159 million.

Pakistan’s exports to Italy were recorded at $355.294 million against the exports of US $ 386.969 million while the exports to Spain were recorded at US $ 362.753 million against US $ 445.086 million last year.
The exports to Bangladesh stood at US $ 274.246 million against US $ 369.313 million.

Similarly, the exports to France during the months under review were recorded at US $ 212.560 million against US $ 222.013 million while the exports to Saudi Arabia stood at US $ 244.221 million against US $ 243.201 million.

Pakistan’s exports to Turkey were recorded at US $ 124.498 million during the current year compared to US $148.465 million last year whereas the exports to Canada stood at US $ 143.398 million against US $ 143.242 million, to Poland US $ 141.437 million against US $ 131.912 million whereas the exports to Australia stood at US $ 119.698 million during the current year against US $ 99.698 million during last year.

The overall imports into the all countries increased by 4.83 percent, from $22.136 billion to $23.207 billion, according to the data.

 

[ghazi52]

Pakistan received the Geographical Indicator (GI) tag for its Basmati, paving the way for creating a local registry for this particular strain of rice and making a case in the world markets for its protection as a Pakistani product.

 

[ghazi52]

Electric fan exports increases 11.89pc in 1st half of FY 2020-21

• The country exported electric fan worth US $11.738 million during July-December (2020-21), showing growth of 11.89 percent.

• APP
• 28 Jan 2021
  
  
  https://twitter.com/share?text=Elec...nturl=https://www.brecorder.com/news/40057258
  
  

ISLAMABAD: The exports of electric fan witnessed an increase of 11.89 percent during the first half of financial year (2020-21) as compare to the corresponding period of last fiscal year.

The country exported electric fan worth US $11.738 million during July-December (2020-21) as against the exports of US $10.491 million during July-December (2019-20), showing growth of 11.89 percent, according to the Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of electric fan also rose by 24.28 percent by going up from 589,000 to 732,000, according to the data.

Meanwhile, on year-to-year basis, the exports of electric fan however witnessed decline of 5.66 percent during the month of December 2020 as compared to the same month of last year.

The exports of fan from the country during December 2020 were recorded at $1.699 million against the exports of $1.801 million in December 2019.

On month-on-month basis, the exports of electric fan witnessed an increase of 16.13 percent during December 2020 as compared to the exports of $1.463 million in November 2020, the PBS data revealed.

It is pertinent to mention here that the country’s trade deficit witnessed an increase of 5.93 percent during the first six months of financial year 2020-21, as compared to the corresponding period of last year.

The exports witnessed increase of 5.09% and reached to $12.110 billion against the exports of $11.524 billion of the same period of last year.

On the other hand, the country’s imports also rose by 5.51% and went up from $23.195 billion last fiscal year to $24.473 billion of same period of fiscal year 2020-21.

Based on the figures, the trade deficit during the period under review was recorded at $12.363 billion against the deficit of $11.671 billion during last year, showing increase of 5.93 percent.

 

[ghazi52]

Govt allows export companies to establish branch offices abroad


The federal government has allowed export-oriented companies to establish branch offices abroad, it was learnt on Wednesday.

Sources said that the Economic Coordination Committee had approved a policy on ‘Equity Investment Abroad by Residents’ during its last meeting, following which the export-oriented companies can now establish subsidiary/branch office abroad.

The Finance Division had proposed that exporters may be allowed to remit up to 10pc of their average annual export earnings of the last three calendar years or $100,000, whichever is higher, during a calendar year to establish subsidiaries/branch offices abroad without prior approval of the SBP