BUSINESS NEWS

The export of non-textile products witnessed a substantial increase of 32.86 per cent during the first 10 months of the current fiscal year over the same period last year mainly on account of rice exports. Official figures compiled by the commerce ministry showed that in absolute terms the export value of these products enhanced to $6.606 billion in July-April this year from $4.972 billion last year, mainly due to substantial increase in the export of food commodities. On the other hand, the export of textile products witnessed a decline of 2.54 per cent to $8.649 billion against $8.875 billion last year. This decline is despite the fact that government has dolled out billions of rupees subsidies to the sector, besides increase in dollar’s value against the rupee. Export of food products witnessed a substantial increase of 22.38 per cent to $2.007 billion during the July-April period against $1.640 billion over the last year. Of these, export of rice rose by 28.55 per cent to $1.210 billion against $942.01 million over the same period last year. Increase in rice export occurred despite announcement of a minimum export price. Major rice-producing countries have imposed a ban on exports to curtail rise in domestic prices of the commodity. But Pakistan is the only country in the region to have promoted export of rice while domestic market witnessed more than 200 per cent increase in prices. Seafood export increased by 4.87 per cent, fruits by 33.71 per cent, vegetables by 4.17 per cent, sugar by 100 per cent and meat by 22.31 per cent. The export of spices went up by 6.64 per cent, oilseeds by 155.12 per cent, and all other food items 10.87 per cent. Export of carpets declined by 5.68 per cent over last year. Export of sports goods went up by 4.46 per cent, but export of footballs declined by 5.18 per cent, while that of gloves rose by 52.70 per cent. Export of leather goods (garments and gloves) increased by 23.74 per cent. Export of leather garments went up by 39.58 per cent and leather gloves by 6.28 per cent. Export of footwear increased by 1.99 per cent, but leather footwear dipped by 11.41 per cent and canvas footwear by 57.42 per cent. However, export of other footwear went up by 105.94 per cent. Export of surgical goods and instruments increased by 33.18 per cent, gems by 38.18 per cent, jewellery by 408.43 per cent, molasses by 52.57 per cent, cement by 170.05 per cent and gur products by 43.35 per cent.