In the food and textile led growth of exports, other manufactures’ group gets overlooked. Increasing by nearly half a billion YoY for 11MFY18 at a growth rate of 15 percent, this commodity group consists mostly of non-resource based goods further up the value chain. The biggest category within this group is chemical and pharmaceutical products that boasted a growth of 34 percent to contributed $1.3 billion to exports, as per SBP data. At over $115 million, fertiliser exports were the highest in history while previously the decade average of exports had been $2.7 million. Traditionally, Pakistan’s fertiliser production is consumed domestically with the surplus exported. Better gas availability this year ensured production at near optimum capacity, leaving manufactures with surplus fertiliser. Pakistan’s plastic exports consist mostly of PET which faced challenges in the international market due to anti-dumping duties levied in the past (for more information read “PET Exports – win some, lose some”, published on May 18, 2018). The victory in the WTO court regarding EU trade restrictions has helped plastics exports achieve a healthy growth of 14 percent YoY. The nascent pharmaceutical sector also witnessed 14 percent growth YoY and clocked in at $241 million for 11MFY18. Given… Read full this story
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