Exports and Imports of goods and services and Summary of Balance of Payments as per BPM6 – January 2014

Karachi, February 19, 2014 (PPI-OT):

EXPORTS AND IMPORTS OF GOODS and SERVICES
(Million US $)
                                                                        Jul-Sep       Oct-Dec       Jan-Mar       Apr-Jun           Jul-Jun              Jul-Sep
                                                                          FY13          FY13           FY13         FY13        FY13       FY12            FY14

(Million US $)
                                                                        Jul-Sep       Oct-Dec       Jan-Mar       Apr-Jun           Jul-Jun              Jul-Sep
                                                                          FY13          FY13           FY13         FY13        FY13       FY12            FY14

  Goods and services balance                                              -3517         -4436         -4414        -4552      -16919       -18957         -5133

    Goods - Export (fob)                                                   6151          6003          6192         6456       24802        24718          6275

    Exports of Services                                                    2173          2058          1201         1292        6724         5013           992

       1. Manufacturing services on physical inputs owned by others           0             0             0            0           0            0             0
       2 Maintenance and repair services n.i.e.                               1             3             1            1           6            5             1
       3 Transport                                                          319           350           316          284        1269         1503           306
       4 Travel                                                              75            77            80           66         298          369            67
       5 Construction                                                         3            16             2            8          29           25             5
       6 Insurance and pension services                                       7            11            15            9          42           89            18
       7 Financial services                                                  11            10            20           16          57           54            20
       8 Charges for the use of intellectual property n.i.e.                  2             1             1            1           5            7             1
       9 Telecommunications, computer, and information services             129           222           245          207         803          460           178
       10 Other business services                                           198           189           169          225         781          786           184
       11 Personal, cultural, and recreational services                       1             2             1            2           6            4             3
       12 Government goods and services n.i.e.                             1427          1177           351          473        3428         1711           209
              Of which: Logistic Support                                   1118           688             0            0        1806            0             0

EXPORTS OF GOODS and SERVICES                                              8324          8061          7393         7748       31526        29731          7267

    Goods - Import (fob)                                                   9776         10284          9871        10226       40157        40370         10518

    Imports of Services                                                    2065          2213          1936         2074        8288         8318          1882

       1. Manufacturing services on physical inputs owned by others           0             0             0            0           0            0             0
       2 Maintenance and repair services n.i.e.                              33            12            15            9          69           91            22
       3 Transport                                                          832           825           807          833        3297         3516           946
       4 Travel                                                             353           331           294          255        1233         1367           290
       5 Construction                                                         2             0             4            4          10           62             0
       6 Insurance and pension services                                      58            77            66           59         260          279            64
       7 Financial services                                                  40            27            33           36         136          107            30
       8 Charges for the use of intellectual property n.i.e.                 37            37            32           36         142          151            34
       9 Telecommunications, computer, and information services              79           116            95          113         403          337            83
       10 Other business services                                           438           502           402          446        1788         1555           310
       11 Personal, cultural, and recreational services                       0             2             0            2           4            3             2
       12 Government goods and services n.i.e.                              193           284           188          281         946          850           101

IMPORTS OF GOODS and SERVICES                                             11841         12497         11807        12300       48445        48688         12400

Summary Balance of Payments as per BPM6 - January 2014

(Million US $)

                                                                                          Jul-Jun              Jul-Sep       Dec        Oct-Dec       Jan               Jul-Jan
                                                                                        FY13     FY12            FY14        FY14         FY14        FY14         FY14          FY13
Current account balance                                                                -2496     -4658         -1206         283         -385         -464        -2055          -441
Current account balance without off. transfers                                         -2898     -5243         -1283         174         -512         -473        -2268          -684
    Exports of goods FOB                                                               24802     24718          6275        2359         6273         2164        14712         14239
    Imports of goods FOB                                                               40157     40370         10518        3542        10320         3595        24433         23462
    Balance on trade in goods                                                         -15355    -15652         -4243       -1183        -4047        -1431        -9721         -9223
    Exports of services                                                                 6724      5013           992         407         1384          329         2705          4610
    Imports of services                                                                 8288      8318          1882         613         1946          637         4465          4898
    Balance on trade in services                                                       -1564     -3305          -890        -206         -562         -308        -1760          -288
   Balance on trade in goods and services                                             -16919    -18957         -5133       -1389        -4609        -1739       -11481         -9511
    Primary income credit                                                                488       826           147          59          154           59          360           275
    Primary income debit                                                                4157      4071           956         347         1310          210         2476          2189
    Balance on primary income                                                          -3669     -3245          -809        -288        -1156         -151        -2116         -1914
   Balance on goods, services and primary income                                      -20588    -22202         -5942       -1677        -5765        -1890       -13597        -11425
    Secondary income credit                                                            18183     17686          4756        1969         5396         1436        11588         11039
       General government                                                                412       658            81         110          130           10          221           248
          Current international cooperation                                              120       230            46          93          101            3          150            70
          Other official current transfers                                               292       428            35          17           29            7           71           178
       Financial corporations, non-financial corporations, households and NPISHs       17771     17028          4675        1859         5266         1426        11367         10791
          Workers' remittances                                                         13922     13186          3927        1385         3863         1243         9033          8207
          Other personal transfers                                                         0         0             0           0            0            0            0             0
          Other current transfers                                                       3849      3842           748         474         1403          183         2334          2584
    Secondary income debit                                                                91       142            20           9           16           10           46            55
    Balance on secondary income                                                        18092     17544          4736        1960         5380         1426        11542         10984
Capital account balance                                                                  264       183            46          71           93           38          177           126
    Capital account credit                                                               266       186            46          71           93           38          177           126
    Capital account debit                                                                  2         3             0           0            0            0            0             0
Net lending (+) / net borrowing (­) (balance from current and capital accounts)        -2232     -4475         -1160         354         -292         -426        -1878          -315
Financial account                                                                       -549     -1280          -382         317          385         -254         -251           384
   Direct investment                                                                   -1258      -744          -172         -79         -157         -106         -435          -476
     Direct investment abroad                                                            198        77            59           6           28            1           88            52
       Equity and investment fund shares (including reinvested earnings)                 193        77            59           6           28            1           88            47
       Debt instruments                                                                    5         0             0           0            0            0            0             5
    Direct investment in Pakistan                                                       1456       821           231          85          185          107          523           528
       Equity and investment fund shares (including reinvested earnings)                1711      1053           231         103          235           96          562           619
       Debt instruments                                                                 -255      -232             0         -18          -50           11          -39           -91
   Portfolio investment                                                                  -26       144          -107         -17           48          -28          -87           -88
     Portfolio investment abroad                                                          99        32             1           0           26            3           30            48
       Equity and investment fund shares                                                 139        57             1           0            0            6            7            71
        Debt securities                                                                  -40       -25             0           0           26           -3           23           -23
     Portfolio investment in Pakistan                                                    125      -112           108          17          -22           31          117           136
       Equity and investment fund shares                                                 120       -60            39          17           90           31          160           140
        Debt securities                                                                    5       -52            69           0         -112            0          -43            -4
      Financial derivatives (other than reserves) and employee stock options               0         0             0           1            2            0            2             0
   Other Investment                                                                      735      -680          -103         412          492         -120          269           948
    Net acquisition of financial assets                                                  314        -9          -195         235          167         -253         -281           811
      Central Bank                                                                         0         0             0           0            0            0            0             0
      Deposit-taking corporations                                                        126        91          -190         233          298         -157          -49           490
      General Government                                                                   2        -3            -2           0            2            0            0            -2
      Other Sector                                                                       186       -97            -3           2         -133          -96         -232           323
    Net incurrence of liabilities                                                       -421       671           -92        -177         -325         -133         -550          -137
      Central Bank                                                                       710      -105           245           0            0            0          245            -2
      Deposit-taking corporations                                                      -1117       220            -5        -110         -155          -50         -210          -370
      General Government                                                                 248       998          -258           7         -113            2         -369           384
              Disbursements                                                             2530      2633           525         278          690           98         1313          1529
                     Credit and loans with the IMF (other than reserves)                   0         0             0           0            0            0            0             0
                     Other Long-term                                                    2274      2633           392         141          553           98         1043          1273
                     Short-term                                                          256         0           133         137          137            0          270           256
              Amortization                                                              2282      1577           783         271          803           96         1682          1145
                     Credit and loans with the IMF (other than reserves)                 361         0           180          57          193            0          373            90
                     Other Long-term                                                    1530      1477           603         122          355           96         1054           794
                     Short-term                                                          391       100             0          92          255            0          255           261
              Other Liabilities (net)                                                      0       -58             0           0            0            0            0             0
      Other Sector                                                                      -262      -442           -74         -74          -57          -85         -216          -149
              Disbursements                                                              409       558            91          37          109            7          207           334
              Amortization                                                               618       638           143         114          201           96          440           390
              Other Liabilities (net)                                                    -53      -362           -22           3           35            4           17           -93
Net Errors and Omissions                                                                -309       -80          -415         174            8          -89         -496           -97
Overall Balance                                                                         1992      3275          1193        -211          669          261         2123           796
Reserves and Related Items                                                             -1992     -3275         -1193         211         -669         -261        -2123          -796
    Reserve Assets                                                                     -4530     -4430         -1321         508        -1059         -287        -2667         -1986
    Use of Fund Credit and Loans                                                       -2538     -1155          -128         297         -390          -26         -544         -1190
Exceptional Financing                                                                      0         0             0           0            0            0            0             0
SBP Gross Reserves incl CFC less RBI unsettled claims#                                  7198     11905          5909        4862         4862         4563         4563          9873
CRR/SCRR                                                                                1151      1049          1168        1231         1231         1230         1230          1111
SBP Reserves( Excluding CRR /SCRR)                                                      6047     10856          4741        3631         3631         3333         3333          8762
SBP Reserves excluding CRR/SCRR, Foreign Curency Cash holding                           6008     10803          4693        3480         3480         3181         3181          8693
DMB's Reserves- Net of CRR/SCRR                                                        1,163     1,278         1,109       1,347        1,347        1,223        1,223         1,660
DMB's Reserves- Net of CRR/SCRR and placements other than FE25                         1,118     1,204         1,039       1,297        1,297        1,160        1,160         1,614
Memorandum Items :                                                                         0         0             0           0            0            0            0             0
    Exports of goods and services                                                      31526     29731          7267        2766         7657         2493        17417         18849
    Exports of non-factor services                                                      6724      5013           992         407         1384          329         2705          4610
       Export Growth                                                                       0.3      -2.6           2.0        26.9          4.5          3.8          3.3           1.3
       Imports Growth                                                                     -0.5      11.3           7.6        13.6          0.0          5.7          4.1           0.2
       Current account % of GDP                                                           -1.1      -2.1          -1.9         1.3         -0.6         -2.2         -1.4          -0.32
            GDP*/                                                                     236520    225108         63201       21067        63201        21067       147469        137970

# Includes foreign Currency Cash holding and excludes unsettled claim on RBI
GDP relates to spacefic period under the column
P Provisional

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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