Exports of cotton products witness fall by 14%

Islamabad: The exports of cotton garments recorded a decline of 14 percent on annual basis in the first four months of the current financial year.

According to the data released by Pakistan Bureau of Statistics, in the first four months of the current fiscal year, the export of cotton garments earned $646 million, which is 14 percent less than the same period of the previous fiscal year.

The report stated that during the same period of the last financial year, the country earned 750 million dollars in foreign exchange from the export of cotton garments.

Exports of cotton garments were recorded at $170 million in October, which was $170 million also in October last year. Cotton garment exports declined by two percent on month-on-month basis in October compared to September.

It has also been stated in the data released that the volume of exports of cotton garments in September was recorded at 174 million dollars, which decreased to 170 million dollars in September.

It is pertinent to note that in the first four months of the current fiscal year, a decrease of 6.3 percent was recorded in the exports of textile products on a monthly basis.