Pakistan's exports and imports up in February

Pakistan’s exports and imports up in February

As per the data published by Federal Bureau of Statistics, Pakistan's exports continued to increase in February due to more textile shipments to Europe and US. Accordingly, Pakistan's exports reached $902.5 million in February, up by 16.2% when compared to $776.4 million recorded in the same period of the previous fiscal. Exports soared by 14% to $7.9 billion in the first eight months of the current fiscal which began in July 2003. Export figure was recorded as $6.9 billion in the corresponding period of previous fiscal. In 2003-04 fiscal year, exports are expected to amount to $12.1 billion with an increase of 9.7%. Country's imports also rose by 24.5% to $1.1 billion in February from $918 million a year ago. In the first eight months of fiscal year, imports reached $9.1 billion from $7.8 billion recorded in the same period of previous fiscal. The increase in imports widened the eight moth trade deficit to $1.2 billion from $839 million in the same period of the previous fiscal.