Oil import bill up 47pc; textile exports down

ISLAMABAD - Pakistan's exports are not picking up, with the textile sector, which happens to be the main export-growth oriented sector, showing a declie of 2.54 percent in July-April 2007-08.  Its share in the overall $15.3 billion total exports, however, of is still higher than the rest of the sectors at $8.65 billion. The trade managers are not happy over its performance, as the exports are not matching the imports pouring in the country during July-April 2007-08.    The provisional figures compiled by Federal Bureau of Statistics on Friday reflected that the majority of cotton-related items had recorded negative growth, including cotton yarn, which was down by 9 percent, cotton cloth by 8.4 percent, cotton carded or combed by 3.2 percent and yarn other cotton yarn showed negative growth of 20 percent. The data showed textile is still a prominent sector with approximately 65 percent share in the overall exports of the country in the period under study. Pakistan is an agriculture country with cotton as a major sector jacking up the economy but the instable political situation, poor law and order, shortage of energy and some policy problems, have resulted into the sharp decline in the growth of this sector. The total exports reached $ 15 billion in the first 10 months of the current fiscal, showing an increase of 10.17 percent over the same period of last fiscal. The detailed report of imports reflected that the import bill accumulated to $8.67 billion during the period under review of the current fiscal with an increase of 47 percent against the same period last year. The import bill is one-fourth of the total imports of $ 32 billion during the said period, followed by machinery import worth $ 5.88 billion, agriculture and chemical group $ 4.76 billion and food groups import stood at $ 3.52b as the leading imports in July-April 2007-08.

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