Ex­ports crawl to dou­ble dig­its for sec­ond months in a row

Trade deficit at 11-month high of $11.76 bil­lion

The Political and Business Daily - - FRONT PAGE -

EX­PORTS grew in dou­ble dig­its for the sec­ond month in a row in June at 10.22 per cent, but a rise in gold im­ports pushed the trade deficit to 11-month high of $11.76 bil­lion.

Ex­ports in June stood at $ 26.47 bil­lion as com­pared to $24.02 bil­lion in the same month last year.

The sec­tors that put up a good show in­clude tex­tiles (14.39 pc), petroleum prod­ucts (38.3 per cent), en­gi­neer­ing (21.57 pc), leather (15 per cent), ma­rine prod­ucts (27.49 per cent), oil seeds (44.4 per cent) and tobacco (31 per cent).

Im­ports in­creased by 8.33 per cent year-on-year to $38.24 bil­lion in June.

Ac­cord­ing to ex­porters' body Fieo, out­bound ship­ments have reg­is­tered dou­ble-digit growth on ac­count of im­prove­ment in the global de­mand.

"De­mand is im­prov­ing in ad­vanced as well as in emerg­ing mar­kets. The fig­ure is en­cour­ag­ing and we ex­pect it to con­tinue. This fis­cal ex­ports will be bet­ter than the pre­vi­ous fis­cal," Fieo pres­i­dent Rafeeq Ahmed said.

In April-June pe­riod, ex­ports grew by 9.31 per cent to $ 80.11 bil­lion.

The 10.22 pc growth in June, how­ever, is lower than the 12.4 pc ex­pan­sion wit­nessed in May.

Trade deficit of $11.76 bil­lion is a 11-month high. The pre­vi­ous high was $12.2 bil­lion recorded in July last year.

It was $11.23 bil­lion in May. In June last year, it stood at $11.28 bil­lion.

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