Pakistan exports plunge 12.71pc to Rs2.88 trillion in 10 months. Pakistan export

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Pakistan exports plunge 12.71pc to Rs2.88 trillion in 10 months
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https://nation.com.pk/NewsSource/app
May 18, 2020
ISLAMABAD-Exports from the country, in rupee term, increased by 12.71 per cent during the first ten months of the current fiscal year as compared to the corresponding period of last fiscal year, Pakistan Bureau of Statistics (PBS) reported. The exports from the country during July– April (2019-2020) were recorded at Rs2883,787 million as against Rs 2,558,582 million during the corresponding period of last year, showing an increase of 12.71 per cent, according to provisional data released by PBS.

However, on year-on-year basis, the exports from the country decreased by 46.62 percent in April 2020 as compared to the exports of April 2019. The exports in April 2020 were recorded at Rs157,412 million as against the exports of Rs 294,883 million during April, 2019. Likewise, the exports on month-on-month basis decreased by 45.23 percent in April 2020 when compared to the exports of Rs287,411 million in March, 2020.

The main commodities of exports during April, 2020 were rice others (Rs21,663 million), knitwear (Rs15,173 million), Basmati rice (Rs15,012 million), bed wear (Rs12,628 million), readymade garments (Rs10,096 million), cotton cloth (Rs8,888 million), cotton yarn (Rs6,376 million), fish & fish reparation (Rs4,554 million), plastic materials (Rs4,402 million) and meat and meat preparations (Rs4,047 million).
On the other hand, imports during July – April (2019 – 2020) were recorded at Rs5,965,492 million as against Rs6,036,561 million during the corresponding period of last year, showing a decrease of 1.18 per cent. The imports into the country during April, 2020 amounted to Rs526,880 million as against Rs525,410 million in March, 2020 and Rs665,418 million during April 2019, showing an increase of 0.28 per cent over March, 2020 but a decrease of 20.82pc over April 2019.

The main commodities of imports during April, 2020 were petroleum products (Rs56,508 million), palm oil (Rs31,208 million), electrical machinery and apparatus (Rs27,667 million), natural gas, liquefied (Rs24,896 million), plastic materials (Rs23,910 million), raw cotton (Rs19,354 million), iron and steel scrap (Rs17,300 million) Iron and steel (Rs15,936 million), medicinal products (Rs12,222 million) and pulses (Rs10,340 million).

Meanwhile, the United States of America (USA) remained the top export destinations of the Pakistani products during first three quarters of current financial year (2019-20), followed by China and United Kingdom (UK). The total exports to the USA during July-March (2019-20) were recorded at $3097.635 million against the exports of $3021.542 million during July-March (2018-19), showing an increase of 2.51 percent during the period under review, according to State Bank of Pakistan (SBP). This was followed by China, wherein Pakistan exported goods worth $1298.259 million against the exports of $1310.136 million last year, showing nominal decrease of 0.90 percent.
UK was the at third top export destination, where Pakistan exported products worth $1279.873 million during this year against the exports of $1319.685 million during last year, showing decrease of 3.01 percent, SBP data revealed. Among other countries, Pakistani exports to United Arab Emirates (UAE) stood at $1244.984 million against $971.173 million during last year, showing increase of 28.19 percent while the exports to Germany were recorded at US $ 1034.667 million against $971.642 million last year, the data revealed.

During the first three quarters, the exports to Afghanistan were recorded at $789.434 million against $885.779 million whereas the exports to Holland stood at $776.240 million against $708.881 million. Pakistan’s exports to Spain were recorded at $684.624 million against $697.937 million last year where as the exports to Italy stood at $ 591.309m against $575.633m.

Similarly, the exports to Bangladesh during nine months were recorded at $573.158 million against $571.506 million while the exports to France stood at $327.609 million against $342.071 million. Pakistan’s exports to Singapore were recorded at $147.735 million during the current financial year compared to US $ 208.389 million last year whereas, the exports to Canada stood at $210.853 million against $221.797 million, to Saudi Arabia US $ 352.164 million against $246.419 million whereas the exports to India stood at $23.167 million during the financial year against $287.171 million during last year.

 

[Salman876]

in rupee term

 

[Syed1.]

The news report says increase title says decrease. Also measuring export earnings in ruppee terms is very unusual...



This is all over the place

 

[Shahzaz ud din]

The news report says increase title says decrease. Also measuring export earnings in ruppee terms is very unusual...



This is all over the place

COVID-19: Pakistan’s exports plunge 54pc in April
By
Ghulam Abbas
-
May 5, 2020



529

ISLAMABAD: Owing to the closure of global markets amid COVID-19 outbreak, Pakistan’s exports fell by a massive 54pc in April 2020, as compared to the same month of last year.

According to the data released by Pakistan Bureau of Statistics (PBS), the country’s exports stood at $957 million in April 2020, as compared to exports worth $2.089 billion in April 2019 and $1.8 billion in March 2020.

On a cumulative basis, the country’s exports during the first 10 months (July-April) of the current fiscal year witnessed a decline of 3.92pc, from $19.1 billion to $18.4 billion.

On the other hand, the country’s imports stood at $3.08 in April 2020 as compared to $4.7 billion last year, showing a decline of 34pc.

On a cumulative basis, the country’s imports witnessed a 16.5pc fall during the first 10 months of the ongoing year, from $45.3 billion in 10MFY19 to $37.9 billion.

The country’s trade deficit narrowed 19pc to $2.131 billion in April 2020.

During the first 10 months of the ongoing fiscal year, the country’s trade deficit plunged by around 26pc, from $26.2 last year to $19.5 billion.

 

[Hiraa]

Everywhere exports must be plunging. Not just pakistan.

 

[PakFactor]

Everywhere exports must be plunging. Not just pakistan.

Have to wait until July to see the true impact of the global economy with Q2 2020 Reports come out. Some already predicting a blood bath, but the main issue will be how we will look down the road and if we will recover properly or not.