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Indian imports up 10.7 per cent in two months

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(Globalpost/GlobalPost)

Imports from neighbouring country India to Pakistan have witnessed increase of 10.7 percent during the first two months of the ongoing fiscal year as compared to the corresponding period of last year.

Indian imports into Pakistan during July-August (2012-13) reached to $197.350 million against the imports of $178.355 million during July-August (2011-12), according to official data.

The commodities that contributed in positive growth of imports into the country included, cereals and cereal preparations, imports of which increased by 61.6 percent while the imports of vegetables and vegetable preparations including pulses increased by 86.4 percent.

Similarly imports of fruit and fruit preparations grew by 86.4 percent while imports of sugar syrups, natural honey increased by 531 percent, spices by 288 percent oil seeds and oleaginous fruits by 65.8 percent while the cork and wood imports increased by 378 percent.

Other products that witnessed positive growth in imports included raw cotton (400%), all crude minerals excluding salt (16.5%), petroleum (9,694%), animals and fats (33%), dyeing tanning and colouring matter

(34%), pigments paints and varnishes (126.8%), essential oils, perfumes and cosmetics (78.9%), leather (34%), rubber manufactures (201%), paper and paper board (29%), cotton yarn (223%), glass and glassware (329.6%), manufactures of base metal (2.7%) while the imports of printed matter increased by (30.3%).

On the other hand, the Indian products that witnessed negative growth in imports into Pakistan included meat and meat preparations, imports of which decreased by 60% while the imports of tea and mate decreased by 42.9 percent.

Similarly, imports of crude rubber decreased by 62.3 percent, crude vegetable materials 35.5%, coal, coke and briquettes by 83.6 percent, animal and vegetable fats (90%), chemical element and compoundism 17%, medical and pharmaceutical products (28.2%), chemical material and products 8.5% while the imports of construction materials including cement decreased by 9.6 %.

Imports of iron and steel manufacturing also decreased by 31.5 percent, while manufacturers of non-ferrous metals declined by 69.6%, machinery (all sorts) and IT parts by 26.3%, footwear 75%, and baby carriages sports goods by 36%.

On the other hand, Pakistan’s exports to India witnessed negative growth of 13.1 percent by going down from $51.207 million during first two months of the last fiscal year to $44.503 this year.

Despite negative growth in trade with India, the country’s trade deficit decreased by 10.06 percent during the first eight months of the current fiscal year as exports expanded by 5 percent and imports witnessed negative growth of 2.41 percent.

The overall exports from the country increased from $15.128 billion in July-February to US$15.884 billion during July-February (2012-13), according to the PBS data.

On the other hand, the imports decreased from $29.788 billion last year to $29.069 billion during the current fiscal year, showing negative growth of 2.41 per cent, the data revealed.

According to the data, the trade deficit during the first eight months of current fiscal year stood at $13.185 billion against $14.660 billion last year, showing negative growth of 10.06 per cent.

http://www.globalpost.com/dispatch/news/asianet/130411/indian-imports-107-cent-two-months