ISLAMABAD - Rice exports from the country during first month of current financial year grew by 2.85 percent as compared to corresponding month of last year and about 212,518 metric tons of rice worth $ 110.966 million was exported as against the exports of 190,455 metric tons valuing $107.893 million of same period of last year.

During the month of July, 2018, about 37,661 metric tons of basmati rice worth $34.832 million was exported as compared to exports of 31,433 metric tons valuing $33.91 million of the corresponding month of last year.

According the data of Pakistan Bureau of Statistics, the exports of above mentioned commodity witnessed about 5.25 percent growth during the period under review.

During the period under review, about 174,857 metric tons of rice other than basmati worth $76.138 million was exported during the period under review as against the exports of 159,022 metric tons worth $74.802 million of same period last year, it added.

Meanwhile, commenting on the uptick of the exports of the rice, chairman Rice Exporters Association of Pakistan (REAP) Samee Ullah Naheem told state-run media that due to the implementation of international set standards and adoption of phytosanitary measures, the demand of Pakistani rice from Europe and Middle Eastern countries including Saudi Arabia had witnessed tremendous growth.

The demand of basmati rice had also increased from other markets of the world as the local rice was unique in its taste and aroma all across the globe and was on high demand, he remarked and said that the momentum of exports could further be enhanced by paying little attention.

He informed that the exports of rice would further increase as arrangements were in progress with Iran as it is another market having huge potential for the Pakistani rice, adding that rice worth $2 billion was exported during the year 2017-18.

Besides, Pakistan was also finding other potential markets to enhance its exports and introduce its products there to fetch further foreign exchange reserves for the economic development of the country, he observed.

Sports goods exports decline by 5.8pc in July

The exports of sports goods from the country witnessed decrease of 5.85 percent during the first month of the current fiscal year against the exports of same month of last year, Pakistan Bureau of Statistics (PBS) reported.

The country exported sports goods worth $21.898 during 2018) against the trade of $23.258 million during July 2017), showing negative growth of 5.85 percent, the PBS data revealed.

The major contributor for negative growth in sports’ goods was trade of gloves, which declined by 20.34 percent. The country exported gloves of $6.699 million during July 2018 against the exports of $8.410 million in July 2017, according to PBS data.

However, the exports of footballs during the month under review increased by 5.59 percent by growing from exports of $11.005 million during July 2017 to $11.620 in July 2018.

The exports of all other sports products decreased by 6.87 percent as it was recorded at $3.579 million in July 2018 compared to the exports of $3.843 million in July 2017.

Meanwhile, on month-on-month basis, the exports of sports products witnessed negative growth of 25.20 percent in July 2018 when compared to the exports of $29.275 million in June 2018.

Similarly, the exports of footballs witnessed negative growth of 16.36 percent in July 2018 when compared to the export of $13.893 million in June 2018 while the exports of gloves decreased by 34.01 percent during the month under review compared to the exports of $10.151 million in June 2018.

It is pertinent to mention here that the overall merchandise exports from the country witnessed an increase of 1.17 percent during the first month of current fiscal year against the same month of last year.

The exports from the country during July 2018 stood at $1.646 billion against the exports of $1.627 billion in July 2017, showing growth of 1.17 percent.

The imports into the country during the month under review witnessed increase of 0.6 percent by growing from $4.809 billion last July year to $4.838 billion.

Based on the figures, the trade deficit during the first month of the current year increased by 0.31 percent by growing from the deficit of $3.182 billion last July to the deficit of $3.192 billion during the July 2018.

Meanwhile, on month-on-month basis, the exports from the country decreased by 12.77 percent during month of July when compared to the exports of $1.887 billion in June 2018. Similarly, the imports into the country decreased by 15.03 percent in June 2018 when compared to the imports of $5.694 billion in April 2018.