Image Credits: Associated Press of Pakistan
LONDON, Sep 03 (APP): Pakistan’s total (merchandise) exports to the UK during the year 2019 stood at US $ 1,612 million which showed a growth of 3.2 percent compared with the exports during the previous year 2018, Economic and Trade Wing of Pakistan High Commission source has said.
“The composition of Pakistan’s export basket to the UK reveals that around 80 percent of the revenue was generated through textiles and apparel ,followed by the food group, and other manufactures”, Shafiq Ahmed Shahzad, Trade and Investment Minister of Pakistan High Commission London told APP here on Thursday.
He said that the UK was the third largest export destination of Pakistani goods. He further informed that during the the month of July 2020-21 of the current financial year, Pakistan’s exports to the UK reached US $ 173.04 million as compared to US $ 140.72 million recorded during the same month of 2019-20 depicting an increase of 23 percent.
He said that the current export composition amply demonstrated that there was a need to diversify our export base and move towards value addition and product sophistication. Highlighting Pakistan’s top growing export items to the UK, he said that during this month of fiscal year July 2020-21, articles of apparel, accessories ,knit or crochet (fashion textile) stood at US $ 60.57 million compared to US $46.95 million registered during the same period of the financial year 2019-20 showing an increase of 29 percent.
Similarly during FY July 2020-21 edible fruit, nuts, peel of citrus fruits, melons (food) exports stood at US $ 9.77 million compared to the exports of the same item worth US $ 5.05 million in July 2019-20 showing an increase of 94 percent. Likewise, other made textile articles, sets worn clothing etc, (home textile) export during July 2020-21 recorded US $ 65.38 million compared to US $ 63.42 registered during the FY 2019-20 showing an increase of 3 percent.
Similarly, he said that during July 2020-21 the export of salt, sulphur, earth, stone, plaster, lime and cement export to UK from Pakistan stood at US $1.02 million compared to export of US $ 0.62
million same period of 2019-20 depicting an increase of 65 percent.
The exports of Pakistani Aluminium and articles thereof to UK registered US $ 0.47 million during the FY July 2020-21 compared to the export of US $ 0.20 million during July 2019-20 showing an increase of 141 percent.
Similarly Pakistani toys, games, sports requisites (sports goods) exports to the UK during FY July 2020-21 recorded US $ 2.84 million as compared to export of US 2.57 million registered during the same period of July 2019-20 showing an increase of 11 percent. The Pakistani export of Rubber and articles thereof to UK during FY July 2020-21 stood at US $ 0.34 million compared to the exports of the items during July 2019-20 showing an increase of 243 percent.
Similarly, Pakistani vegetables, fruit, nut etc food preparation exports during July 2020-21 stood at 1.04 million compared to the exports of US $ 0.84 million same period of July 2019-20 depicting an increase of 24 percent. Likewise ,the Pakistani exports of cereal, flour, starch, milk preparations and products to UK during July 2020-21 registered US $ 0.49 million compared to same period of July 2019-20 showing an increase of 65 percent.
Shafiq Ahmed informed that fortunately ,Pakistan had been given a firm commitment from the British government that Pakistan would continue to enjoy similar degree of market access which it was enjoying currently under the GSP plus regime.
He said that the UK Department of the International Trade (DIT) has however also released the new UK Global Tariffs starting from January,1,2021.
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