Non-textile exports decline 19pc

Non-textile exports decline 19pc

ISLAMABAD: Exports of non-textile products fell 19.2 per cent to $6.243 billion during the July-March period of this fiscal year from $7.727bn in the corresponding period a year ago, the Pakistan Bureau of Statistics (PBS) said on Monday.

Export proceeds from non-textile products have been falling since July 2015. The Ministry of Commerce mostly is responsible for facilitating exports of non-textile products which constitutes 45pc of the total exports. The Ministry of Textile Industry is looking after the interest of 55pc textile and clothing export proceeds.

The commerce ministry has announced a series of initiatives in its three-year strategic trade policy framework (2015-18) to promote exports of mainly non-textile products. The policy initiatives are yet to be notified.

Product-wise details show a year-on-year decline of 74.74pc in exports of petroleum products, primarily because of a 99.55pc drop in exports of petroleum naphtha and 33.59pc in petroleum products in the first nine months of 2015-16 over the same period last year. Exports of petroleum crude fell 58.73pc during the period.

Carpet and rug exports edged lower by 20.34pc during the July-March period, while exports of sports goods dipped by 1.63pc. Foreign sales of footballs, however, went up by 3.20pc.

Exports of tanned leather dropped 27.15pc in July-March compared to the same period of last year.

Leather products’ exports declined 14.66pc during the period under review.

Footwear exports dipped by 19.79pc mainly driven by a 23.51pc dip in exports of leather footwear. This will be an area of concern for the policymakers as the sector witnessed a robust growth in 2014 because of preferential market access to the European market under GSP+ preferential tariff scheme.

Exports of surgical goods and medical instruments went up by 3.08pc, while that of engineering goods dipped 20.71pc during the period under review over last year.

Year-on-year exports of gur dropped 58.53pc, cement 28.94pc, handicraft 99.74pc, molasses 4.53pc, furniture 29.46pc and gems 49.75pc. However, exports of jewellery witnessed a paltry growth of 5.11pc during the July-March period mainly because of change in government policy towards the sector.

Source: http://www.dawn.com/news/1254412/non-textile-exports-decline-19pc

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