Engineering Post Special
Pakistan’s exports are highly concentrated in just few items like cotton and cotton manufacturers , leather rice and few other items.
The first three categories of exports between themselves have accounted for as much as 69.2 per cent of total exports of Pakistan during first three quarters of financial year 2018-19 i.e. July2018 to March 2019 with cotton and cotton manufacturers alone contributing 56.7 per cent.
Traditionally, the contribution of these three categories was 7-.3 per cent during the corresponding period of the previous financial year and 71.8 per cent during FY 2017
Bifurcation of these items emphatically show that exports in these few items are the major factor responsible for lower export earnings of the country and widening of the trade balance gap negatively.
As for direction of exports of Pakistan are concerned, country’s export destinations are concentrated in to a few markets which obviously underlying the dire importance of concentrated efforts for search of new markets for Pakistani goods around the world.
It is good to note that efforts are being made to explore new markets where lots of potential exist. Formulation of Strategic Trade Policy Framework 2019-24 augurs well in this regard.
Pakistan’s exports mainly go tojust 10 countries namely USA, China, United Arab Emirates (UAE), Afghanistan, United Kingdom (Britain), Germany, France, Bangladesh, Italy and Spain.
Among these countries , USA has the largest share of 17 per cent in terms of total exports followed by China 8 per cent and UK 7 per cent.
On the whole Pakistan’s 24 major exports in varying quantities are Rice, Fish and Fish Preparations, Fruits, Wheat, Sugar, Meat and Meat Preparations, Raw Cotton, Cotton Yarn, Cotton Fabrics, Hosiery, Bedwear, Towels , Readymade Garments, Art Silk and Synthetic Textiles, Carpets ,Carpeting Rugs and Mats, Sports Goods excluding Toys, Leather excluding Reptile Leather (Tanned), Leather Manufactures, Footwear, Medical and Surgical Instruments, Chemicals and Pharmaceuticals, Engineering Goods, Jewellery, Cement and Cement Products.
Pakistan had exported engineering goods worth Rs 21650 million in 2010-11 which rose to Rs 33487 million in 2013-14 , highest in last 9 years, and slumped to Rs 16719 million in 2018-19 as per available provisional figures.
Likewise, export of Cement and Cement Products in 2010-11 amounted to Rs 38191 million, which went up to Rs 55878 million in 2012-13b and dropped to Rs 24420 million in 2017-18.
Total exports of all major and minor items from Pakistan were just Rs 2120847 million in 2010-11, Rs 2583463 million in 2013-14, Rs 2555843 million in 2017-18 and Rs 2263648 million during first three quarters of 2018-19.
