Pakistani exports witness significant increase

Islamabad: Exports in Pakistani currency have recorded a growth of 22.45% on annual basis in the first two months of the current financial year.

According to the statistics of Pakistan Bureau of Statistics, the volume of exports in local currency in July and August was recorded at 1276238 million rupees, which is 22.45% higher than the same period of the previous fiscal year.

According to the report, the volume of exports in local currency during August was recorded at 695136 million rupees, which is 26.75% more than last year's August.

In August last year, the volume of exports was recorded at Rs548,440 million. According to the statistics, exports in domestic currency have grown at a rate of 19.62 percent in August compared to July.

According to the data, the volume of exports was recorded at 581102 million rupees in July, which increased to 695136 million in August.

The statistics told that NetWare exports in August were Rs117,892 million, ready-made garments Rs83,447 million, bed wear Rs74,081 million, cotton garments Rs47,002 million, cotton yarn Rs30,793 million, towels Rs25,567 million.

The export of rice was recorded at Rs18,073 million, basmati rice 16271 million rupees and the volume of exports of meat and meat products was recorded at 11210 million rupees.

The report further stated that in the first two months of the current financial year. A decrease of 2.42 percent was recorded in imports in Pakistani currency on annual basis.

In July and August, the volume of domestic imports was recorded at 2371596 million rupees, which was 2430313 million rupees in the same period of the previous financial year. The volume of imports in August was recorded at Rs1330458 million, which is 0.50% less than last year's August.

The volume of imports of petroleum products in Pakistani currency during August was 180628 million rupees, crude oil 119438 million rupees, LPG 89854 million rupees, palm oil 80346 million rupees, plastic material 66779 million rupees.

Electrical machinery and equipment 48536 million rupees, iron steel 47489 million rupees, mobile phone 32712 million rupees, scrap 28618 million rupees and medical products import volume recorded 24592 million rupees.