Pakistan's textile exports surge 24.7pc to $10.933bn in 7 months

Islamabad: The exports of textile commodities surged by 24.73 percent during the first seven months of the current fiscal year (2021-22) as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) figures revealed.

The textile exports were recorded at $10,933.446 million in July-January (2021-22) against the exports of $8,765.883 million in July- January (2020-21), showing a growth of 24.73 percent, according latest PBS data.

The textile commodities that contributed in trade growth included cotton yarn, the exports of which increased by 41.41 percent from $486.429 million last year to $687.857 million during the current year.

Likewise, the exports of raw cotton increased by 782.46 percent, from $0.593 million to $5.233 million, cotton cloth by 24.41 percent, from $1,086.333 million to $1,351.532 million, cotton (carded or combed) by 100 percent to $1.605 million from zero exports last year, yarn (other than cotton yarn) increased by 99.70 percent, from $17.041 million to $34.031 million whereas exports of knitwear increased by 32.76 percent, from $2,175.022 million to $2,887.681 million.

In addition, the exports of bed wear increased to $1,924.057 million from $1,613.510 million, showing growth of 19.25 percent, towels’ export increased by 15.41 percent, from $533.206 million to $615.354 million, readymade garments by 21.98 percent, from $1,773.198 million to $2,163.006 million, art, silk and synthetic textile by 30.80 percent, from $200.687 million to $262.505 million, madeup articles (excluding bedwear and towels) by 9.89 percent, from 446.876 million to $491.084 million whereas the exports of all other textile materials increased by 23.69 percent, from $359.093 million to $444.175 million.

The only textile commodity that witnessed negative growth in trade was tents, canvas and Tarpulin, the exports of which decreased by 11.58 percent, from $73,895 million to $65.339 million.

Meanwhile, on year-on-year basis, the textile exports increased by 17.29 percent during the month of January 2021 as compared to the same month of last year.

The exports during January 2021 were recorded at $1,552.297 million against the exports of $1,323.455 million during January 2020.

On month-on-month basis, the exports textile from the country witnessed a decrease of 4.38 percent during January 2021 when compared to the exports of $1,623.426 million in December 2021.

It is pertinent to mention here that the country’s total merchandise exports increased by 24.48 percent during the first seven months of the current fiscal year.

The merchandize exports during July-January (2021-22) were recorded at $17.744 billion compared to the exports of $14.255 billion during July-January (2020-21), the PBS reported.

On the other hand, the merchandize imports went up by 59.33 percent from $29.257 billion last year to $46.616 billion during the current fiscal year.

SOURCE: APP