Highest single export receipt stands at Rs 2.69 billion

Highest single export receipt stands at Rs 2.69 billion

Despite the government's repeated export promotion promises and incentives, the highest single export receipt could not cross Rs 3 billion by the end of first trimester. "The country exported zinc sheets worth Rs 2.69 billion – the highest export receipt – by mid-November," the central bank data revealed, adding that the country exported Rs 29.60 billion, whereas imported Rs 208.09 billion worth merchandises in the four months of the current fiscal year 2013-14. Though exports increased 11.9 per cent to Rs 29.60 billion, the total export receipt is not enough to pay a bill of single import of petroleum products that has been imported worth Rs 37.18 billion by mid-November, according to the central bank's data. However, the gold import has dropped to Rs 6.29 billion by mid-November, from Rs 8.94 billion in the same period of the last fiscal year, also due to rising price of the precious yellow metal. The rise in exports could not help bridge the ballooning trade deficit – due to swelling imports riding high on rising consumerism and import-dependency – as the trade deficit surged by 17.1 per cent to Rs 178.49 billion by mid-November.
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