Pakistan Export Updates

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Exports to China up 41pc in December


APP
01 Feb 2021


BEIJING: Pakistan’s exports to China crossed $312.33 million in December 2020, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).

Exports increased by 41 percent on a year-on-year basis last December, according to GACC figures received by Pakistan.

Despite the epidemic of Covid-19, bilateral trade has increased significantly. Pakistan’s exports stood at $312.33 million in December 2020, up 41 percent from $221 million in the same month of the previous year, which grew for six consecutive months, China Economic Net (CEN) reported.

Last month Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood announced via Twitter that Pakistan’s export to China registered an increase of 30% in November 2020.

Pakistan made the highest gain in December 2020 when its export volume was $312.33 million against total exports to China.

Overall, from January to December 2020, China’s imports from Pakistan counted $2.12 billion irrespective of Covid-19 that impacted fiscal 2020.

This year China’s export to Pakistan decreased 4.95 percent amounting to $15.36 billion as compared to the previous year which was $ 16.17 billion.

The total volume of trade between China and Pakistan was decreased by 2.69 percent amounting to $17.49 billion as compared to 2019 which was $17.97 billion due to COVID-19.

In the fourth quarter, China’s imports rose 44% from the previous year to $695.63 million, while the overall imports and exports in last quarter increased 4% amounting to $5.46 billion whereas in the last year it was $5.27 billion.

Among the growth of trade in major products between the two countries, 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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Pakistan’s Exports Remain Above $2 Billion for Four Consecutive Months

Pakistan’s exports have remained above $2 billion for four consecutive months, Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, announced through his Twitter profile on Monday.

This has happened for the first time in eight years, according to Dawood.

He wrote, “Alhamdolillah, I am happy to share that our exports have maintained growth & for the first time in 8 years, the exports have crossed the 2-billion mark in four consecutive months. Our export for Jan 2021 is up by 8 percent to $2.14 billion, compared to $ 1.98 billion in Jan 2020 according to provisional figures.”

A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities, while commenting on the exports said,

Although, it is too early to celebrate but 8% growth is a respectable trend. The country needs to grow at double digits to be able to feed the gap created by rising imports amid an expansionary economic policy.We need the $2.5b run-rate to see the results of the right policies. Otherwise, the currency would soon be under pressure after a few months.

Elaborating this, he said that the exports for July 2020 to January 21 have increased by 5.5 percent to $14.245 billion, as compared to $13.507 billion during the same period in the previous fiscal year. “Our cumulative exports for seven months of FY 2020-21 are showing a rising trend,” he said

Article © ProPakistani

 

[Mrc]

Bloomberg - Are you a robot?

www.bloomberg.com

Govt take note


As expected with improving economy pakistani buissnessman want to go full steam on imports for short profits

 

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9.3 million pairs of jeans sold to United Kingdom market in 2019, 30 million worldwide.

 

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Textile exports jump 10.8pc in January

The export of textile commodities increased 10.79pc year-on-year to $1,323.324 million during the month of January 2021, as against $1,194.463 million in the same month of last year.

On a month-on-month basis, however, exports from the country decreased 5.54pc in January 2021 when compared with $1,400.269 million in December 2020, data issued by the Pakistan Bureau of Statistics revealed.

Overall, the export of textile commodities increased 8.23pc during the first seven months (July-Jan) of the current fiscal year (FY21) as compared to the corresponding period of last year. Textile exports were recorded at $8,765.739 million in 7MFY21 against the exports of $8,099.095 million in 7MFY20..

 

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Pakistani Cutlery exports increase 28.64 % to $70.307 million during the 7 months of financial year 2020-21, according to the Pakistan Bureau of Statistics (PBS).

 

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Plastic exports increases 11.40 percent in 7 months

• Pakistan exported plastic worth $185.918 million during July-January (2020-21) as compared to the exports of $166.885 million during July-January (2019-20), showing a growth of 11.40 percent.

APP
28 Feb 2021

ISLAMABAD: The exports of plastic materials witnessed an increase of 11.40 percent during the seven months of current financial year (2020-21) as compared to the corresponding period of last year.

Pakistan exported plastic worth $185.918 million during July-January (2020-21) as compared to the exports of $166.885 million during July-January (2019-20), showing a growth of 11.40 percent, according to the Pakistan Bureau of Statistics (PBS) data.

In terms of quantity, the exports of plastic also rose by 26.09 percent as the country exported 195,134 metric ton of plastic during the period under review as compared to the exports of 154,758 metric ton during last fiscal year.

Meanwhile, on year-to-year basis, the exports of plastic material witnessed increase of 48.90 percent during the month of January 2021 as compared to the same month of last year.
The exports of plastic from the country during January 2021 were recorded at $21.486 million against the exports of $14.430 million in January 2020.

On month-on-month basis, the plastic exports during January 2021 rose by 18.94 percent as compared to the exports of $18.064 million in December 2020, the data revealed.

 

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China has emerged as the top country from where Pakistan imported products of varying nature during FY 2020-21. The imports from China during July-January (2020-21) were recorded at $6807.488 million, reflecting an increase of 17.48 percent during the period, according to the State Bank of Pakistan (SBP).

This was followed by the UAE, from where Pakistan imported goods worth $3757.486 million against the imports of $4179.273 million last year, showing a decline of 10.09 percent. Some of Pakistan’s key imports from China include machinery, nuclear reactors, boilers, Organic chemicals, and iron or steel articles.

Owing to increased cooperation surrounding the China–Pakistan Economic Corridor and a host of infrastructure projects under construction throughout Pakistan since 2013 as part of the CPEC, Pakistan’s trade with China continues to enhance.

Pakistan and China have also continued cooperating to enhance military capabilities on various fronts amid China and Pakistan’s ongoing tensions with India. China reportedly launched the second Type 054A/P frigate, equipped with the modern surface, subsurface, and anti-air weapons, sensors, and combat management systems for Pakistan, at the beginning of the year.

 

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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 tons 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 tons 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 market.

 

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Pakistan, China to reopen Khunjerab Pass route on April 1


by Shafqat Ali

ISLAMABAD, March 31 (Gwadar Pro) – Pakistan and China have agreed to reopen the Khunjerab Pass route for trade activities by April 1, said Pakistani Foreign Ministry spokesperson Zahid Hafeez Chaudhri.
“The two countries agree to reopen the pass on April 1. The pass will reopen. Both sides have no objection,” he said.

The border remained closed for over a year due to the Covid-19 pandemic. The authorities on both sides of the border have been ordered to ensure strict implementation of the Standard Operating Procedures (SOPs) and screening of all those who cross the border.

Earlier this month, Islamabad had asked China to reopen the border to facilitate cross-border trade and people-to-people exchanges.

China-Pakistan border remains closed from December 1 till March 31 every year due to severe weather conditions, as per the bilateral agreement. For the rest of the year, however, the border remains open for two-way movement of passengers as well as transportation of goods and cargo.


The border was opened for a few weeks in July 2020 to facilitate the release of stranded containers, and again in September, to shift medical material gifted by the Chinese government to GB to deal with Covid-19.

 

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Pakistan Reports Highest Monthly Exports in 10 Years

by Syeda Masooma

Pakistan’s exports have increased to $2.345 billion in March 2021, according to the provisional figures by the Ministry of Commerce, said Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, on Thursday.

He took to Twitter and announced, “Ministry of Commerce is glad to share that according to provisional figures, in March 2021 our exports increased to USD 2.345 billion. This is an increase of 13.4 percent over Feb-2021. It is the monthly highest in last ten years.”

He said that this is also the first time since 2011 that the country’s exports have crossed the $2 billion mark for six consecutive months. The export growth of 29.3 percent over March 2020 should not be considered as it is misleading since there was a lockdown last year, he noted.

The adviser wrote, “The imports in March 2021 grew to USD 5.313 billion, which is mainly due to increased imports of Petroleum, Wheat, Soy Bean, Machinery, Raw Material and Chemicals, Mobiles, Fertilizers, Tyres and Antibiotics & Vaccines in March 2021.”

For the 9-month period of July 2020 to March 2021 of the current Financial Year (FY), Pakistan’s exports have increased by 7 percent to $18.669 billion compared to $17.451 billion in the corresponding period last year. During the same period, the import grew by 12 percent to USD 39.210 billion this fiscal year compared to $34.817 billion in the last fiscal year.

This growth has come from an increase in the import of raw material and the import of wheat, sugar, and cotton, Dawood explained.

 

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Pakistan to export meat to China

April 3, 2021

SOURCEthenews.com.pk




China has allowed a Pakistani firm, Organic Meat Company to export meat to China, after lifting quarantine restrictions. While filing with the bourse, Organic Meat Company said they have pioneered a heat treatment process to remove viruses from the meat, which will also enable them to access even more markets.

KARACHI: China has allowed a Pakistani firm to export meat to one of the world’s biggest markets after lifting quarantine restrictions, although the neighbouring country expressed concern over hurdles in bilateral economic relationship, it was learnt on Friday.
The Organic Meat Company received an approval from Chinese customs authorities for export of heat treated meat to China.
“The company has pioneered the heat treatment process whereby foot and mouth disease virus can be removed from beef meat,” the company said in a filing with the bourse. “This process will enable us to access more markets for value-added meat products.” China is one of the world’s largest beef consumers and that imports half a million tons annually to reduce gap in demand and supply.

Chinese authorities had imposed quarantine restrictions on Pakistan’s meat which has the world’s lowest price. Pakistan exports beef to Vietnam in bulk and from there it enters into China without any restrictions, according to the Federation of Pakistan Chambers of Commerce and Industry President Nasser Hyatt Maggo.

Maggo lamented the bilateral trade figures are not reflecting the narrative of close friendship. There are multiple hidden tariff barriers imposed on trade with Pakistan.
“We don’t have direct relations with importers in China,” he said during a meeting with Chinese Consul General in Karachi Li Bijian and Economic and Commercial Counselor Guo Chunshui.
“China should give Pakistan its due share in Chinese imports to let Pakistani businessmen take benefits by exports to China.”

Javed Ilyas, chairman of Pak-China Business Council said bilateral trade was $18 billion in 2019 after signing of second phase of free trade agreement. Of this, Chinese exports were $16 billion while imports from Pakistan were only $1.9 billion as Pakistani businessmen faced barriers from China.

Amjad Rafi, former president of Karachi Chamber of Commerce and Industry said Pakistani basmati rice is best in the world and in much demanded in Europe. Indian Basmati was banned in the European Union and Pakistan exported $2 billion basmati last year, but Chinese authorities imposed quota on basmati rice.

“If Pakistani exporters are allowed free dealing in China the trade ratio could be enhanced many times,” Rafi said.

The participants discussed the matter of mutual interests and the state of affairs in China-Pakistan Economic Corridor.

 

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Export of textiles jumps 30pc in March



Mubarak Zeb Khan
April 17, 2021

Pakistan’s exports of textile and clothing rebounded in March mainly due to value-added sectors and posted a growth of 30.4 per cent from a year ago. — Dawn/File

ISLAMABAD: Pakistan’s exports of textile and clothing rebounded in March mainly due to value-added sectors and posted a growth of 30.4 per cent from a year ago, showed data released by the Pakistan Bureau of Statistics (PBS) on Friday.

The export value of these sectors edged up to $1.355 billion in March from $1.039bn over the corresponding month of last year. Growth in exports of value-added sectors contributed to an increase in overall exports from the sectors.
In February, textile and clothing exports shrank 3.12pc on a year-on-year basis.

The July-March figures showed that growth in textile and clothing exports came from the value-added sector. The value of exports reached $11.35bn in the July-March period this year as against $10.41bn over the corresponding months of last year, showing a growth of 9.06pc.

The Economic Coordination Committee of the Cabinet has recently allowed import of cotton and cotton yarn from India but the same decision was reversed in the Federal Cabinet.

To address the issue of shortage of cotton yarn for value-added sector, the ECC in its last meeting allowed duty-free import of cotton yarn until June 30, 2021. It will be difficult for the value-added sector to retain the orders in case government did not facilitate the timely availability of cotton yarn in the domestic market.

Product-wise details reveal exports of ready-made garments up by 22.9pc in value, followed by knitwear 49.64pc, bedwear 43.71pc and towels 20.95pc during the month under review. Pakistan and China’s exports of apparel exports posted a substantial growth to United States compared to regional countries during the past few months.

The government has already abolished duty and taxes on industrial raw materials as well as paying off past pending refunds to exporters. The devaluation of the rupee and lower interest rate accelerated industrial growth, especially in the export-oriented industries.

According to the PBS data, the export of cotton yarn posted growth of 39pc in March from a year ago, followed by cotton cloth 8.7pc, and cotton carded 100pc. The export of yarn other than cotton yarn also recorded a growth of 56.87pc during the month under review.

In the non-value-added sectors, exports of tents, canvas dipped 34.09pc followed by raw cotton by 100pc. However, the export of art and silk increased by 32.72pc, made-up articles excluding towels, bedwear 12.48pc and other textile products 41.03pc during the month under review.

The overall exports in March up by 30.62pc to $2.36bn in March 2021 against $1.81bn over the corresponding month last year.

Between July and March, the overall exports reached $18.68bn as against $17.44bn over the corresponding months of last year, indicating a growth of 7.13pc.

In the nine months of this fiscal year, the import of textile machinery posts a paltry growth of 7.72pc. This indicates that the industry has started importing textile machinery as part of modernisation or expansion in the sector.

To bridge the shortfall in the domestic sector, the industry imported 624,945 tonnes of raw cotton between July to March against 338,244 tonnes last year, showing an increase of 84.76pc. Similarly, the import of synthetic fibre posts growth of 52.29pc as industry imports 346,254 tonnes this year as against 227,365 tonnes.

The import of synthetic and artificial silk yarn stood at 316,656 metric tons this year as against 210,810 metric tons last year, showing an increase of 50.21pc. The import of worn clothing recorded a growth of 55.22pc to 487,107 tonnes this year as against 313,818 tonnes last year.

Published in Dawn, April 17th, 2021

 

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The Frontier Post

ISLAMABAD (APP): The exports of textile commodities witnessed an increase of 9.06 percent during the first three quarters (Qs) of the current fiscal year as compared to the corresponding period of last year.

The textile exports were recorded at $11,355.478 million in July-March (2020-21) against the exports of $10,412.504 million in July-March (2019-20), showing growth of 9.06 percent, according to latest data of Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in trade growth included knitwear, exports of which increased from $2,299.800 million last year to $2,780.884 million during the current year, showing growth of 20.92 percent.

Likewise, the exports of yarn (other than cotton yarn) increased by 12.53 percent, from $20.937 million to $23.561 million whereas, exports of bed wear increased by 16.50 percent from $1,761.654 million to $2,052.260 million.

The exports of towels increased by 16.84 percent, from $592.370 million to $692.111 million; exports of tents, canvas and tarpaulin grew by 23.46 percent, from $72.216 million to $89.159 million; readymade garments by 4.53 percent, from $2,170.340 million to $2,268.568 million; made up articles, excluding towels and bed wear by 14.85 percent, from $492.366 million to $565.496 million.

Meanwhile, the commodities that witnessed negative growth in trade included raw cotton, exports of which decreased by 96.51 percent, from $17.002 million to $0.593 million; cotton yarn decreased by 12.03 percent, from $819.808 million to $721.212 million whereas the exports of cotton cloth also decreased by 8.28 percent, from $1,547.384 million to $1,419.184 million.

Meanwhile, on year-on-year basis, the textile exports increased by 30.38 percent during the month of March 2021 as compared to the same month of last year. The exports during March 2021 were recorded at $1,355.568 million against the exports of $1,039.687 million.

On month-on-month basis, the exports from the country witnessed increase of 9.85 percent during March 2021 when compared to the exports of $1,234.040 million in February 2021.

It is pertinent to mention here that the country’s merchandize exports increased by 7.12 percent during the first three quarters of the current fiscal year (2020-21) as compared to the corresponding period of last year.

The exports from the country during July-March (2020-21) were recorded at $18.685 billion against the exports of $17.443 billion during July-March (2019-20), according to the latest PBS data. The imports during the period under review also increased by 13.57 percent by growing from $34.791 billion last year to $39.512 billion during the first three quarters of current fiscal year.

Based on the figures, the country’s trade deficit increased by 20.05 percent during the first three quarters as compared to the corresponding period of last year. The trade deficit during the period was recorded at $20.827 billion against the deficit of $17.348 billion last year, according to the PBS data.