ISLAMABAD: At a time when overall exports have witnessed a decline, exports to European Union (EU) under the duty-free access increased to $5.7 billion during January-September, $909.1 million more than the corresponding period of last year.
According to Federal Commerce Minister Engineer Khurram Dastgir, Pakistan exports increased by $910 million to EU under GSP Plus status during January-September.
The government had estimated additional $1 billion impact in first year of implementation of GSP Plus which is encouraging in the nine months so far.
According to reports, the extra earnings were almost equal to $1 billion that Pakistan raised from international debt market this month on 6.75% interest rate by pledging Islamabad-Lahore Motorway.
The minister pointed out that the exports of home textiles grew to $1.1 billion from January to September – higher by $235.8 million or 27.7% over the comparative period. The garments exports increased to $1.9 billion, showing net addition of $399 million on back of 27.1% growth.
The footwear exports grew by 26% to $82.9 million while there was 10% increase in exports of leather goods. The exports of leather goods amounted to $477.7 million, showing net increase of $44.8 million.