Pakistan and global export review.

• Author: Kazmi, S. Kamal Hayder

Byline: S. Kamal Hayder Kazmi

The World Trade Organization (WTO) revealed that the world trade will continue to face strong headwinds in the year 2019 and 2020 after growing more slowly than predicted during last year because of rising trade tensions and increased economic unrest. WTO experts estimate merchandise trade volume growth to decline to 2.6 percent in 2019 - down from 3.0 percent in 2018. Trade growth could then rebound to 3.0 percent in 2020; however, this is dependent on an easing of trade tensions. Statistics also identified that trade growth in 2020 is expected to out-pace GDP growth due to faster GDP growth in developing states. Trade tensions still pose the greatest risk to the forecast, but a relaxation could provide some upside potential. The value of merchandise trade was up 10 percent to US$ 19.48 trillion during 2018, partly because of higher energy rates.

Pakistan Exports

##% Change for value in

##million Rupees in August,

##2019 over

S.No. Commodities###July, 2019 August, 2018

1###Knitwear###5.54###27.5

2###Readymade Garments###1.22###34.06

3###Bed wear###5.59###14.12

4###Cotton Cloth###19.33###11.62

5###Cotton yarn###11.68###30.72

6###Rice others###-31.45###77.5

7###Towels###-4.46###6.29

8###Rice Basmati###-25.82###34.24

9###Madeup articles (excl. towels and bedwear)###11.78###5.04

10###Surgical Goods and Medical Instruments###5.51###58.93

In the developing countries such as Pakistan, the Pakistan Bureau of Statistics (PBS) calculated that exports from Pakistan during August, 2019 is worth Rs. 293,933 million (provisional) as compared to Rs. 300,875 million (provisional) in July, 2019 and Rs. 249,240 million during August, 2018 explaining a fall of 2.31 percent over July, 2019 but a rise of 17.93 percent over August, 2018. In terms of US dollars the exports in August, 2019 was $1,859 million (provisional) as against to $1,894 million (provisional) during July, 2019 explaining a fall of 1.85 percent and by 7.65 percent as against to $2,013 million in August, 2018.

Furthermore, exports during July-August, 2019 totaled Rs. 594,808 million (provisional) as compared to Rs. 452,892 million during the same period of previous year explaining a rise of 31.34 percent. In terms of US dollars the exports during July-August, 2019 totaled $3,753 million (provisional) as compared to $3,651 million during the same period of previous year explaining a rise of 2.79 percent.

The commodities wise statistics also showed that main...