Overall exports posts growth of 8.0 pc : Economic Survey
ISLAMABAD, June 4 (APP): The country’s overall exports recorded a positive growth of 8.0 percent during the first ten months (July-April) of the current fiscal year while in the same period last year, the export witnessed decline of 3.0 percent.  In absolute terms, exports have increased from $14,703.3 million to $15,884.1 million in the period, says Economic Survey 2009-10 released by Fiance Division here on Friday.   The document says imports during the same period fiscal year declined by 2.8 percent compared with the same period of last year, reaching to $28.1 billion.  HTML clipboard

Import compression measures lowering domestic demand coupled with fall in international oil prices initially have started paying dividends and imports witnessed slowdown, it adds.
The survey revealed depreciation of rupee had also played a significant role for lower imports during current fiscal year.
Imports of the petroleum group registered a positive growth of 1.3 percent and reached to $8,118.6 million. The increase in imports of the petroleum group has been due to rising quantity import of petroleum products.
The imports of telecom declined by 30.1 percent during July-April 2009-10 followed by imports of food group which exhibits negative growth of 21.3 percent. Machinery group witnessed a negative growth of 10.6 percent during the period under consideration.
Trade deficit improved by 13.9 percent from $14,218 million in July-April 2008-09 to $12,238 million during July-April 2009-10.
Unlike last year when decline in trade deficit was mainly contributed by massive fall in import expenditure due to decline in international prices, current year’s improvement in trade deficit was broad based, as both the exports and imports contributed in the decline.
Services account deficit shrank by 39.0 percent during July-April 2009-10 to reach $1.96 billion.
Financial account contracted from $4,333 million to $3,703 million during July-April 2009-10 against corresponding period of last year.
Exchange Rate of Pak-Rupee vs US$ during July-April 2009-10 witnessed a depreciation of 3.9 percent.
Worker remittances amounted to $7,306.7 million in July-April 2009-10 as against $6,355.6 million in corresponding period last year, thereby showing an increase of 15.0 percent.
Pakistan’s total liquid foreign exchange reserves amounted to $15.0 billion by the end of April 2010.