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KARACHI: Pakistan's exports during July-February 2003-2004 have surged by about 14 percent to $ 7.878 billion over the same period last year.

According to trade figures released by the Export Promotion Bureau (EPB) here Friday, the exports during February 2004, stood at $ 903 million as compared to $ 776 million in February 2003, showing an increase of 16.24 percent.

The export target for July-February 2003-2004 was fixed at $ 7.714 billion which has been achieved by 102 percent, the report said.

Similarly, country's imports also recorded an increase of 17 percent to $ 9.094 billion during July-February 2003-2004 compared with $ 7.759 billion during the corresponding period last year.

The imports mostly included capital goods which is a positive indicator of increased industrial activity in the country, EPB said.

Pak reserves up by $ 93 mln in a week

The total liquid foreign reserves registered another rise of $ 93.3 million at 12586.2 million on February 28, State Bank of Pakistan (SBP) announced.

The foreign reserves inched up by $ 2.5 million to $ 12005.2 million on February 14 and inflated by $ 487.7 million at $ 12492.9 million on February 21.

Out of total foreign reserves of the country by February 28, $ 10815.7 million were held by SBP while $ 1770.5 million were held by other banks.