ISLAMABAD - Pakistan has missed annual exports target by $2.359 billion in the previous financial year 2011-12, as it recorded only $23.641 billion in the period under review against the target of $26 billion chiefly due to the prevailing energy crisis in the country and lower textile commodities prices in international market.Background discussions with industry sources have revealed that Pakistani exporters were unable to meet export orders during last fiscal year 2011-12 due to energy shortage in county besides reduction in textile commodities prices globally resulting in missing the textile exports target. Industrial units in most of the country remained closed for four to five days a week in last year due to the power shortage, they added. Apart from missing annual target, country’s exports had gone down during last fiscal year compared to its preceding year. According to the latest figures of Pakistan Bureau of Statistics (PBS) exports showed negative growth of over four per cent during the previous financial year 2011-2012 if compare with its preceding year 2010-2011, as it had recorded at $23.641 billion in the period under review against the $24.810 billion of same period last year. It might be mentioned here that Pakistan has achieved record level of exports of $25 billion in the fiscal year 2010-11 due to the higher prices of textile commodities in international market, which reduced in last fiscal year 2011-12 resulting in lower exports. However officials of Commerce Ministry are of the view that figures of country’s exports are highly encouraging under the prevailing situation of crises abroad especially in Europe, the major market for Pakistan products. Officials held international economic situation responsible for the widening trade deficit of the country, as according to them prices of importable commodities like oil is on the increasing trend in international market contrary to the declining prices of our exportable goods. The prices of textile made commodities had decreased in international market that made impossible for Pakistan to achieve exports target of $26 billion during the last financial year.They further said that energy crisis, poor law and order and other domestic issues have also their negative impacts on the exports of the country.