Exports jump 18.28% in FY21, 70% in June
The country’s exports posted record growth of 18.28% in Fiscal Year 2020-21 (June-July) over the last year besides witnessing a surge of 70.67% in June 2021 compared to same month of last year.
According to the provisional figures compiled by the Pakistan Bureau of Statistics (PBS), exports from Pakistan during June, 2021 amounted to Rs.426.126 billion (provisional) as against Rs.256.105 billion (provisional) in May, 2021 and Rs 263,985 billion during June, 2020 showing an increase of 66.39% over May, 2021 and of 61.42% over June,2020.
In terms of US dollars the exports in June, 2021 were $2.729 billion (provisional) as compared to$ 1.671 billion (provisional) in May, 2021 showing an increase of 63.32% and by 70.67% as compared to $1.599 billion in June2020.
Similarly the exports during the corresponding year (2020–2021) totaled Rs.4.042 trillion (provisional) as against Rs 3.37 tillion during the corresponding period of last year showing an increase of 19.95%.
In terms of US dollars the exports during the year totaled $ 25.304 billion (provisional) against $21.394 billion during the corresponding period of last year showing an increase of 18.28%.
Main commodities of exports during June,2021 were knitwear (Rs. 64.187 billion), readymade garments (Rs. 50.895 billion), bed wear (Rs. 46.694 billion), cotton cloth (Rs. 31.98 billion), cotton yarn (Rs. 18.885 billion), rice others (Rs. 18.190 billion), towels (Rs.15.465 billion), madeup articles (excl. towels & bedwear) (Rs.12.342 billion), fruits (Rs.11.792 billion) and Basmati rice (Rs.10.722 billion).
The detail shows that in term of rupee, knitwear exports witnessed an increase of 47.45% and 75.62% in June 2021 when compared to the exports during May 2021 and June 2020 respectively.
Similarly readymade garments witnessed and increase of 70.4% and 66.64%, bed wear exports recorded surge of 68.29% and 70.03%, cotton cloth 54.93% and 48.77%, and rice (others) increased by 71.07% and 3.22% when compared with the exports during May 2021 and June 2020.
Likewise the exports of towels also rose by 63.25% and 58.99%, madeup articles (excluding towels and bedwear) by 62.29% and 75.86%, fruits 598.58% and 112.47% and basmati rice’s export rose by 90.04% and 46.68% during the period under review.
The imports into the country during June,2021 amounted to Rs.995.843 billion (provisional) as against Rs. 811.947 billion (provisional) in May, 2021 and Rs 611.449 billion during June2020 showing an increase of 22.65% over May, 2021 and of 62.87% over June2020.
In terms of US dollars the imports in June,2021 were $ 6.377 billion (provisional) as compared to $5.297 billion (provisional) in May, 2021 showing an increase of 20.39% and by 72.21% as compared to$3.703 billion in June2020.
Imports during July–June (2020-2021) totaled Rs.8.986 trillion (provisional) as against Rs.7.029 trillion during the corresponding period of last year showing an increase of 27.83%.
In terms of US dollars the imports during July–June (2020-2021) totaled $ 56.405 billion (provisional) as against $ 44.553 billion during the corresponding period of last year showing an increase of 26.60%.
Main commodities of imports during June,2021 were Petroleum products (Rs. 113.787 billion), Petroleum crude (Rs.59.761 billion), Power generating machinery (Rs.50.794 billion), Natural gas, liquefied (Rs. 49.083 billion), Palm Oil (Rs. 42.366 billion), Medicinal products (Rs.38.121 billion), Electrical machinery & apparatus (Rs 34.669 billion), Plastic Materials (Rs.33.851 billion), Mobile phones (Rs.31.963 billion), Fertilizer manufactured (Rs. 27.767 billion).
According to detail, the import of petroleum products jumped by 31.21% and 134.03% in June 2021, when compared to the imports during May 2021 and June 2020 respectively.
Similarly the imports of petroleum crude also went up by 22.9% and 168.03%, that of power generating machinery rose by 122.24% and 11.98%, natural gas, liquefied by 15.77% and 79.55%, palm oil by 8.33% and 87.83%, medical products by 59.98% and 107.09% and electrical machinery and apparatus’ import rose by 18.59% and 52.15% during the period under review.
The import of plastic materials increased by 0.86% and 33.95% and fertilizer manufactured import also surged by 118.17% and 349.45% in June 2021 over May 2021 and June 2020.
The import of mobile phone witnessed an increase of 18.81% in June 2021 over May 2021, however the mobile phone witnessed a decline of 16.3% in June 2021 over same month of last year.
Based on the provisional figures of imports and exports the balance of trade in June, 2021 was (-) 569.717 billion in terms of Rupees and (-)3.648 billion in US dollars.
The balance of trade figures cumulative from July-June, 2020-2021 were (-)4.944 trillion in terms of Rupees and (-)31.101 billion in US dollars.