Mercantile exports soar 24.7%, services exports 23.2%

Readymade garment exports witnessed record increase 9.83%

ISLAMABAD, Nov 11 (APP):The country‘s mercantile exports witnessed an increase of 24.7 percent during the first four months of current financial year 2021-22, as compared to corresponding period of last year.

According to an official Twitter handle of the Commerce Ministry, the country’s total exports stood at $9.44 billion during July-October (2021-22) as compared to the exports of $7.57 billion during July-October (2020-21), showing an increase of around $2 billion.

The products contribute in positive growth includes readymade garments, home textiles, cotton fabric, rice, cotton yarn, jerseys & cardigans and synthetic fabrics.

The services exports also witnessed an increase of 23.2 percent to $1.572 billion from $1.276 billion during the first quarter of financial year 2021-22.

Similarly, during July-September (2021-22) the IT exports grew by 42 percent to $635 million from $445 million last year whereas business services exports also rose by 29 percent to $394 million from $ 304 million last year, in addition the travel services exports increased by 72 percent to $141 million from $ 82 million last year.

He also shared the sector wise data of exports, according to which eight sectors recorded double digit growth during the period under review.

Men’s garments’ export rose from $1.2 billion to $1.6 billion posting a growth of 32%, while that of home textiles witnessed a rise of 22% as it surged to $1.57 billion during July-October (2021-22) compared to $1.29 billion in same period of last year.

Similarly cotton fabric export also surged by soared by 20% to $745 million, rice by 19% to $599 million, cotton yarn by 73% to $398% and jerseys & cardigans surged by 60% to $398 million.

Likewise teh export of women garments increased by 20% to $270 million and that of synthetic fabric soared by 35% to $131 million during the period under review.