JULY 19, 2012 WCIN dESK: Bangladesh for the first time has left Pakistan behind in exports as the former has surpassed an unprecedented mark of $24.3 billion during last fiscal year as compared to $23.6 billion figures registered on account of Pakistan's exports.
Exports of Dhaka, which remained historically lesser than the same of Pakistan, have now recorded the jump this year despite the challenges like inflation in the major importing market of Europe and other domestic issues. Though the total export figure of Bangladesh was still lesser than its fixed target of over $26 billion, it continued growth as compared to Pakistan's exports, which declined by 4.71 per cent, as compared to last year's figure of $24.8 billion. On the other hand, Dhaka succeeded to cross previous figure of $22.92 billion to $24.3 billion this year.
Both countries are largely based on textile exports and whenever there is a change in demand, supply and price of textile made ups in international market, total exports of the two countries accordingly.
According to experts, Bangladesh, comparatively relying more on textile garments, is enjoying the zero rated facility and tariff concession in global market specially EU because of its status as Least Developed Country (LDC).
On the other hand, Pakistani products are facing high duties in the said markets. However, despite having at least 40 per cent share of non-textile item, Pakistani exports could not maintain the increasing trend after July to June 2010-2011 when Islamabad had pushed its exports from $19.3 billion to $24.8 billion with the increase of over $5 billion. Source: Buiseness Recorder,Pakistan's Premier Financial Daily
Exports of Dhaka, which remained historically lesser than the same of Pakistan, have now recorded the jump this year despite the challenges like inflation in the major importing market of Europe and other domestic issues. Though the total export figure of Bangladesh was still lesser than its fixed target of over $26 billion, it continued growth as compared to Pakistan's exports, which declined by 4.71 per cent, as compared to last year's figure of $24.8 billion. On the other hand, Dhaka succeeded to cross previous figure of $22.92 billion to $24.3 billion this year.
Both countries are largely based on textile exports and whenever there is a change in demand, supply and price of textile made ups in international market, total exports of the two countries accordingly.
According to experts, Bangladesh, comparatively relying more on textile garments, is enjoying the zero rated facility and tariff concession in global market specially EU because of its status as Least Developed Country (LDC).
On the other hand, Pakistani products are facing high duties in the said markets. However, despite having at least 40 per cent share of non-textile item, Pakistani exports could not maintain the increasing trend after July to June 2010-2011 when Islamabad had pushed its exports from $19.3 billion to $24.8 billion with the increase of over $5 billion. Source: Buiseness Recorder,Pakistan's Premier Financial Daily
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