Thursday, October 29, 2020

Pakistan: Exports remained flat at USD 1.89bn in Feb 19

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest data reveals that during Feb’19, exports remained similar to last year’s levels and clocked in at USD 1.89bn while down by 8% MoM to USD 2.04bn in Jan’19. Textile exports, which comprise around 58% of total exports, posted growth of 3% YoY.

Meanwhile, the Food group and Petroleum Group exports registered decline of 7% YoY and 43% YoY, respectively.

Exports under Food and Petroleum group plunged due to decline in exports of Sugar (-79% YoY), Petroleum Naphtha (-100% YoY), Petroleum Crude (-62% YoY) and Vegetables (-26% YoY).

On the other hand, textile exports increased due to rise in exports of value added products including Knitwear, Towels, Ready-made garments, Bed wear and raw cotton by 11%, 8%, 6%, 2% and 42% YoY, respectively.

Exports under Petroleum Group decreased due to decline in throughput of refineries which resulted in drop in exports of naphtha and petroleum products.

During 8MFY19, exports registered a growth of 2% YoY to USD 15.11bn as compared to USD 14.84bn in SPLY.

Key contributors to the improvement were Petroleum Group (+24% YoY), and All others (+9% YoY).

Exports growth was led by Wheat (+777% YoY), Oil seeds & Nuts (+122% YoY), Petroleum Crude (+53% YoY), and Cements (+38% YoY).

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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