Wednesday, 20 April 2011 15:53
Posted by Shoaib-ur-Rehman Siddiqui
Finally, it’s that time of the month, when Pakistan’s economic managers can have their feel good moment, while the politicians brag and boast of their performance. And why shouldn’t they?
The latest external account numbers released by the central bank confirm the notion that Pakistan’s balance-of-payment position is in safe waters -- $99 million to be precise, for the first nine months of current fiscal year; which by the way is also the best nine-month performance since FY05.
Even month-on-month changes are confidence boosters. SBP data show that trade balance in March dropped about 11 percent over February, whereas remittances also jumped 25 percent month-on-month.
A closer look at the trade balance isn’t really disappointing either. Although, the SBP hasn’t released its detailed trade numbers as yet, that released by the FBS does provide a clue.
Share of textile exports dipped to 52 percent of total overseas sales in the quarter ending March, down ...
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Finally, it’s that time of the month, when Pakistan’s economic managers can have their feel good moment, while the politicians brag and boast of their performance. And why shouldn’t they?
The latest external account numbers released by the central bank confirm the notion that Pakistan’s balance-of-payment position is in safe waters -- $99 million to be precise, for the first nine months of current fiscal year; which by the way is also the best nine-month performance since FY05.
Even month-on-month changes are confidence boosters. SBP data show that trade balance in March dropped about 11 percent over February, whereas remittances also jumped 25 percent month-on-month.
A closer look at the trade balance isn’t really disappointing either. Although, the SBP hasn’t released its detailed trade numbers as yet, that released by the FBS does provide a clue.
Share of textile exports dipped to 52 percent of total overseas sales in the quarter ending March, down ...
Money doesn’t grow on trees. But when it comes to remittance inflows in Pakistan, the onset of spring sees a rather sharp increase in worker monies coming home to their families.
The central bank’s latest data show that remittances inflows jumped 25 percent month-on-month in March 2011 – its highest month-on-month increase since March 2010, when it increased 30 percent over February 2010.
This March factor has been a common feature in the last few years. And ...
Imagine a fruit bowl of juicy summer fruits, diced and chilled, on a sweltering summer afternoon. The bowl’s right in front, but despite immense hunger and thirst, you haven’t been able to reach it.
That’s one way of describing the Pak-China FTA.
The trade agreement appears quite beneficial for both countries, at least on the face of it: Pakistan has been given tariff concessions for its major exports such as raw cotton, cotton made-ups, leather and sports ...
Clocking in at $98 million, the current account deficit during July-February FY11 comes as a breather for Pakistan’s economy in current times. But the thought of future prospects may retard the initial glee.
The months gone by of FY11 have benefited from the favourable impact of higher commodity prices in international markets – in particular cotton and rice, two key export items of the country.
The FAO Rice Price Index surged from 214 points in July 2010 ...
