Exports exceed $2 billion mark in Feb FY11

[Karachiite]

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Exports exceed $2 billion mark in Feb FY11

KARACHI: Pakistan’s exports registered a phenomenal growth of 42 percent during the month of February this fiscal over the same month of last year.

Pakistan has kept the momentum of export achievement of over $2 billion mark for the last three months, which continues in February 2011 also, Trade Development Authority of Pakistan (TDAP) announced on Wednesday.

Pakistan’s exports during February 2011 were valued at $2.16 billion, which was 42.1 percent higher than the level of $1.52 billion during February 2010.

Imports during February 2011 were valued at $3.05 billion registering a growth of 21.9 percent over the level of imports valued at $2.505 billion in February 2010.

Cumulative value of exports for the period July-February 2011 was $15.386 billion against $12.303 billion registering a growth of 25 percent over the same period last year.

While, cumulative value of imports for the period July-February 2011 was $25.60 billion against $21.82 billion registering a growth of 17.3 percent over the same period last year.

Daily Times - Leading News Resource of Pakistan

[Thorough Pro]

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What good is the increase in exports if it is negated by an equal or higher increase in imports. Only if we can curb the imports of useless (non-essential) items. The day our exports overtook our imports, our economy will start growing at faster pace.