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Jan-Aug data: Pakistani exports to EU surge by 18pc to $5b against $4b last year

Jan-Aug data: Pakistani exports to EU surge by 18pc to $5b against $4b last year

ISLAMABAD: Pakistani exports to European Union increased 18 percent to $5.009 billion during the first eight months (Jan-August) of the current year as compared to $4.2420 billion last year.

The increase has been witnessed in the exports after the GSP (generalised scheme of preferences) Plus status awarded to Pakistan.

This is in sharp contrast to the country’s overall exports which are on the decline due to energy crisis and exchange rate appreciation.

According to official data, Pakistan’s exports to EU went up to $695 million in January 2014 compared to $531 million in the same month of the last year 2013, registering a growth of 30.81 percent. This growth declined to nine percent in February 2014 when the exports fetched $552 million as against $502 million in the same month of the last year.

The exports to EU stood at $611 million in March, $593 million in April, $606 million in May, $625 million in June, $702 million in July and $621 million in August during this calendar year. The minimum increase in exports to EU was witnessed during April 2014 when the country’s exports went up by only 5.12 percent.

Textile exports to EU increased to $3.512 billion in the first eight months as against $2.894 billion in the same period of last year.

The exports of home textile rose to $1.129 billion in Jan-August 2014 as against $891 million in the corresponding period a year earlier. The exports of textile garments and hosiery to EU stood at $1.655 billion as against $1.315 billion.

The exports of intermediary goods of textiles and raw cotton to EU increased to $700 million in Jan-Aug 2014 as against $660 million in the same period of last year. The exports of carpets to EU stood at $26.88 million compared with $26.44 million.

The footwear exports to EU were recorded at $70.77 million in Jan-Aug this year as against $55.95 million in the same months last year. The leather exports of Pakistan to EU stood at $419 million in the first eight months of 2014 as against $379 million in the same period of last year.

 

The exports of articles of leather to EU stood at $317 million in the first eight months of 2014 as against $287 million in the same period of last year.

The exports of plastics to EU fetched $72 million in the first eight months in 2014 as against $37.22 million in the similar period a year ago.