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Exports up 16.2% in 1st week of 2021
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SME Times News Bureau | 15 Jan, 2021
The new year had brought better prospects for country's
trade with exports rising 16.2 per cent year-on-year between January 1-7
driven by good performance from engineering goods and petroleum
products.
In value terms, the exports in the first week of the
new year grew by $866 million with the bulk of this increase (73.5 per
cent) coming from 51.8 per cent or $686.8 million growth in exports of
engineering goods. Engineering goods performance was led by a 30 times
rise in exports to South Africa at by $462.2 million.
Petroleum
products also contributed to increase in the exports and accounted for
13.2 per cent of the total increase. The exports increased by 17.3 per
cent YoY at $114.7 million. This was driven by increase in exports to
South Africa (+$71 million) and Australia (+$93 million).
Some of
the increase in exports in week one was offset by decrease in exports
of readymade garments (-26.0 per cent YoY, -$87.3 million), man made
yarns (-22.0 per cent YoY, -$23.2 million) and inorganic and organic
chemicals (-5.5 per cent YoY, -$22.0 million).
During the week, overall imports grew by 1.1 per cent YoY or an increase of $92.4 million.
Imports
of pearls, precious and semi-precious stones increased by 86.5 per cent
YoY (+$220.6 million) accounting for 238.8 per cent of the overall
increase.
The import growth was led by increase in imports from
UAE (63.4 per cent YoY, +$74.2 million) and USA (345.8 per cent YoY,
+$47.6 million)
Vegetable oil also registered significant
increase of 88.2 per cent YoY (+$121.4 million) accounting for 131 per
cent of the total increase
Some of the increase in imports was
offset by decrease in imports of Transport Equipment (-59.8 per cent
YoY, -$425.4 million), Petroleum Products (-14.5 per cent YoY, -$324.6
million) and Fertilizers (-35.9 per cent YoY, -$88.0 million).
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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