Record: Export target met in 11 months

ISLAMABAD: The country’s exports for the first time have been reported at Rs1.95 trillion ($22.7 billion) in the first eleven months of financial year 2010-11, well above this year’s target of $21.2 billion, according to a statement issued by Ministry of Commerce on Thursday. Exports in May registered an increase of 33 per cent against exports in the same month last year, according to the provisional trade statistics released by Federal Board of Revenue (FBR). The exports as percentage of imports have increased by six per cent in the current year compared with last year. It is expected that the country, for the first time would be able to export goods worth $25 billion in this year, the statement further said. On the other hand, imports increased at a rate of 16 per cent and were reported at $36.5 billion in July-May 2010-11.

Published in The Express Tribune, June 10th, 2011.