Export Keeps Underperforming

Export keeps missing the target during the past 11 months of the just-ended fiscal year. During this period the country generated only 2.5 billion dollars in revenue from export, which is 53pc of the target.

Lower quality of products, contraband markets and productivity decline are the major reasons cited for the under-performance of export, according to the Ministry of Trade (MoT). For the 11 months of the last fiscal year, the Ministry had targeted to generate 4.72 billion dollars from export.

The Ministry reported that export earnings from agricultural commodities have shown a slight increase, 7.8 million dollars, and reached 1.97 billion dollars. Export revenue generated from industrial products has spiked by 53 million dollars compared to the previous year which reached 418 million dollars.

Exports of electrical power, coffee, leather, Khat, tea and other horticulture and floriculture products have marked a performance that ranges from 50pc to 75pc.

The Ministry has pointed out that exporting commodities with value addition and exporting quality and diversified products could improve the performance of the export sector.

Published on Jul 14,2018 [ Vol 19 ,No 950]



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