KARACHI - The country's total foreign trade has reached $59.20 billion in the last financial year 2007-08 over $47.50 billion of corresponding period of the financial year 2006-07. In monetary terms the volume of the foreign trade increased by 11.675b dollars over the fiscal year 2006-07. The official data of Federal Bureau of Statistics showed that the total exports of the country enlarged to $19.222 billion in outgoing FY08 depicting 13.23 percent growth over $16.976 billion dollars of corresponding fiscal 2006-07. However, unprecedented increase of 30.87 percent was observed in the imports of the country as total imports amounted to 39.968 billion dollars in FY08 over $30.539 billion dollars of corresponding FY07. In $39.968 billion dollars imports, the oil imports bill enlarged to $11.380b in last fiscal year 08 over $7.335 billion dollars of corresponding fiscal year 07 which showed 55.14 percent increase against corresponding fiscal. Out of total $11.380 billion dollars import bill, country spent $6.158 billion dollars on petroleum products while $5.22 billion dollars were spent on the imports of petroleum crude. Similarly, a huge increase of 53.51 percent has been recorded in the imports of food commodities as food sector's imports amounted to $4.209 billion dollars in outgoing fiscal year 2007-08 against $2.742 billion dollars of same period of last fiscal 2006-07. In food group imports, country spent $860 million dollars in last fiscal against $415million dollars of previous FY07 which showed an unprecedented increase of almost 100 percent over corresponding period. Meanwhile, the import of dry milk and milk food for infants decreased by 11.73 percent as its total import amounted to $74.344 million over $84.223 million of previous fiscal. While nominal increase of 10.32pc recorded in the machinery group imports as its total imports reached to $7.376 billion in FY08 against $6.686b of corresponding FY07. The analysts said the continuous surge in oil prices in international market have given unprecedented boost to imports in last fiscal. They said that machinery, raw materials and semi-finished items imports have been depicting a substantial growth during the last couple of years which may also continue in next fiscal. Meanwhile, nominal growth of 13.23 percent observed in the total exports of the country as total exports amounted to $19.222b in last FY08 against $16.976 billion of previous FY07. According to official data, the marginal decline of 226 million dollars registered in the exports of textile group in FY08 as its total export amounted to $10.561billion dollars against $10.787billion dollars of corresponding financial year 200607.    The textile sector plays significant role in the earning of foreign exchange while it constitutes over 55 percent share in total export of the country, analysts said, adding the looming crisis of energy, hike in gas and oil prices, worsening law and order situation and prevailing political uncertainty of country were main reasons behind the decline of its export in last fiscal.