Pakistan's exports depict 16.6 percent increase in July-December

ISLAMABAD (January 07 2003) : Pakistan's exports increased by 16.6 percent, to $ 5.197 billion, during the first half (July-December) of the current fiscal year, as compared to $ 4.4578 billion in the corresponding period of last year, official sources told Business Recorder here on Monday.

Foreign trade figures released by Commerce Ministry showed 102.5 percent achievement against the target for the half year, indicating that 50.2 percent of the total target of $ 10.347 billion for the whole year had been achieved.

According to the statistics, the country's imports amounted to $ 5.787 billion in July-December period as compared to $ 4.875 billion in the correspondent period of last year, indicating a growth of 18.7 percent.

Trade figures show that trade balance has improved by 41 percent to $ 417.5 million against $ 590.3 million during the same period of last fiscal year.

In December, exports registered 19.5 percent growth, to $ 862.8 million from $ 722.2 million of December of last year.

The export target for this period was $ 917 million against $ 862.8 million of last year, showing 94 percent achievement, while imports increased by 45.9 percent to $ 1.032 billion as compared to $ 707.7 million.

Trade figures further show that exports and imports in December increased by one percent and 7.5 percent, respectively.

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