Country's exports increase by 33 percent

ISLAMABAD: The exports of Pakistan in May 2011 increased by 33 percent over the exports in May 2010, according to the provisional trade statistics released by Federal Board of Revenue (FBR).

For the first time, country’s exports for the 11 months of the financial year2010-11 are reported at Rs1.95 trillion (US$ 22.7 billion) which is well above this year's targets of US $ 21.2 billion.

The exports as percentage of imports have increased by 6 percent in the current year trace over last year.

It is expected that the country, for the first time would be able to export goods worth $ 25 billion in this year, said a statement issued by Ministry of Commerce here on Thursday.

On the other hand imports increased at a rate of 16 percent and were reported at US $ 36.5 billion in July-May 2010-11.

Copyright APP (Associated Press of Pakistan), 2011