Textile exports surge by 26.55% to $6.021 bln in 4 months

Textile exports
Textile exports

ISLAMABAD, Nov 16 (APP):The exports of textile commodities witnessed an increase of 26.55 percent during the first four months of the current fiscal year (2021-22) as compared to the corresponding period of last year and went up by over 24 percent on year-on-year basis (YoY).
The textile exports were recorded at $6021.815 million in July-October (2021-221) against the exports of $4758.473 million in July-October (2010-21), showing growth of 26.55 percent, according to latest data of Pakistan Bureau of Statistics (PBS).
The textile commodities that contributed in trade growth included cotton yarn, exports of which increased from $230.329 million last year to $394.765 million during the current year, showing growth of 71.39 percent.
Likewise, the exports of cotton cloth increased by 18.54 percent, from $624.878 to $740.710, cotton (carded or combed) by 100 percent to $1.543 from zero exports last year, yarn (other than cotton yarn) increased by 114.55 percent, from $8.035 million to $17.239 million whereas exports of knitwear increased by 34.45 percent, from $1182.604 to $1601.778.
In addition, the exports of bed wear increased to $1091.124 million from $899.555, showing growth of 21.30 percent, towels by 14.17 percent, from $283.255 million to $323.385 million, readymade garments by 22.34 percent, from $947.070 million to $1158.603 million, art, silk and synthetic textile by 36.20 percent, from $105.225 million to $143.320 million, madeup articles (excluding bedwear and towels) by 11.55 percent, from 240.776 million to $268.582 million whereas the exports of all other textile materials increased by 27.73 percent, from $195.695 million to $249.956 million.
The textile commodities that witnessed negative growth in trade included raw cotton, exports of which decreased by 100 percent, from $0.523 million to zero exports and tents, canvas and Tarpulin, the exports of which decreased by 23.98 percent, from $40.528 million to $30.810 million.
Meanwhile, on year-on-year basis, the textile exports increased by 24.24 percent during the month of October 2021 as compared to the same month of last year.
The exports during October 2021 were recorded at $1600.934 million against the exports of $1288.620 million during October 2020.
On month-on-month basis, the exports from the country witnessed increase of 7.65 percent during October 2021 when compared to the exports of $1487.144 million in September 2021.
It is pertinent to mention here that the country’s total merchandise exports surged by 24.94 during the first four month of the current fiscal year compared to the corresponding period of last year.
The exports during July-October (2021-22) were recorded at $9.462 billion against the exports of $7.573 billion during July-October (2020-21).
On the other hand, the imports into the country also surged by 65.40 percent by growing from $15.176 billion last year to $25.101 billion during the current fiscal year, the PBS data added.