ISLAMABAD (June 05 2010): Exports amounted to $15.9 billion in July-April 2009-10 against $14.7 billion in the same period last year, showing a growth of 8.0 percent compared to the negative growth rate of 3.0 percent in same period last year, revealed Economic Survey on Friday.

According to the Survey, higher quantum export of items such as rice, fruits and raw cotton due to their improved production in the country along with recovery of international demand and exchange rate depreciation were major reasons for the increase in exports during the period under review. Within the broad categories of exports, all major sectors witnessed positive growth during July-April 2009-10 over the corresponding period last year.

Textiles which is a major driver of the exports of Pakistan captured 53.3 percent share in total exports during current fiscal year and witnessed an absolute increase of $556.2 million during July-April 2009-10 over same period last year.

Non-textile exports grew by 9.2 percent during July-April 2009-10 over the 5.3 percent growth in the same period last year. This year's growth of non-textile group has been contributed by positive growth of food group (7.1 percent), petroleum (7.3 percent) and all other items (65.9 percent). According to the Survey, food group export increased by 7.1 percent during July-April 2009-10 as compared to the same period last year. Furthermore, food group's share remained at 17.2 percent in total exports as it contributed 15.3 percent to this year's overall export growth.

With a 66 percent share in food group and 11.4 percent in overall exports of this year, rice exports witnessed a growth of 7.5 percent during the July-April 2009-10 over the same period last year on the back of increase in quantum export of rice.

The overall increase in export of rice came from non-Basmati rice as quantity export of non-Basmati rice increased by 100.5 percent compared to 2.7 percent increase in quantum exports of Basmati rice during July-April 2009-10 over the corresponding period last year.

Quantity export of rice increased by 66.0 percent on the back of improved domestic production and higher import demand from Kenya, Iran and Saudi Arabia. In addition to rice, fruits and Halal meat & meat preparation remained the major contributor to increase in food exports during the period. The increase in fruits exports has been led by improved harvest, better marketing strategies and improved market access.

Copyright Business Recorder, 2010