Trade figures of 1HFY20 speak for themselves: Emerging Pakistan

January 6, 2020 (MLN): Advisor to Prime Minister for Commerce, Textile, Industry and Production and Investment has presented the export and import figures for the first half of FY 2020.

Advisor said in a series of tweets, the exports grew by 3.21% YoY to stand at $11.54 million while imports contracted by 17% YoY to value at $23.18 million in Jul-Dec 2019.

He endorsed the figured quoted by Emerging Pakistan. The top 3 export performers for first half of FY 2019/2020 have been Basmati Rice 56% growth, Meat 52%, vegetables 41%, fish/ seafood 23%, growth of rice of other varieties 14%, whereas artificial silk/synthetic silk, footballs, leather footwear, all featured a 13% growth.

On the imports side, the top imports products which showed a decline during the first half of FY20 are CBU Motors Cars, down by 80% YoY, CKD Buses dropped by 51% YoY whereas trucks and transport parts went down by 47% YoY.

Moreover, Emerging Pakistan mentioned the top growing imports products during the Jul-Dec FY20 which include; Mobile phone 69% growth, Electrical Machinery & Apparatus 48% and Aircraft, ships & boats 47%.

Besides, the top export destinations during the aforementioned period were Yemen, up by 127% YoY; the exports to Malaysia and Thailand increased by 74% YoY.

However, India, Japan and Thailand were the main origins where Pakistan’s imports have declined by 64%, 44% and 38% respectively. And the import origins where Pakistan’s imports grew are Algeria up by 186%, Iran by 149% and Egypt by 136% during the first half of FY20.

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