Textile exports up 2.92% to $3.4bln in Q1, 11.30% in September

ISLAMABAD, Oct 17 (APP): The exports of textile commodities witnessed an increase of 2.92 percent during the first quarter (Q1) of the current fiscal year as compared to the corresponding period of last year.

The textile exports from the country were recorded at $3469.585 million in July-September (2020-21) against the exports of $3371.376 million in July-September (2019-20), showing growth of 2.92 percent, according to latest data of Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in positive trade growth included knitwear, exports of which increased from $779.293 million last year to $860.758 million during the current year, showing growth of 10.46 percent.

Likewise, exports of bed wear increased by 8.40 percent by growing from $601.024 to $651.487 while the exports of tents, canvas and tarplin grew by 78.71 percent, from $15.771 to $28.184, the PBS data revealed.

The readymade garments’ exports were recorded at $701.442 million during the current year against the exports of $666.157 million last year, showing an increase of 5.24 percent while exports of madeup articles (excluding towels and bead-wear) increased by 16.58 percent from $148.050 million to $172.604 million.

Meanwhile, the commodities that witnessed negative growth in traded included raw cotton, exports of which declined by 97.50 percent, from $10.826 million to $0.271 million while the exports of cotton yarn decreased by 42.65 percent, from $297.237 to $170.475.

Exports of cotton cloth also decreased by 8.49 percent, from $499.390 million to $457.060, yarn (other than cotton yarn) by 22.77 percent, from $7.230 million to $0.931 million, art silk and synthetic textile by 2.93 percent from $77.894 million to $75.615 million whereas the exports of cotton (carded or combed) witnessed 100 percent decline during the period under review.

Meanwhile, on year-on-year basis, the textile exports increased by 11.30 percent during the month of September 2020 as compared to the same month of last year.

The exports during September 2020 were recorded at 1189.739 million against the exports of $1068.906 million.

On month-on-month basis, the exports from the country increased by 18.09 percent during September 2020 when compared to the exports of $1007.509 million in August 2020.

The country’s overall merchandize exports registered negative growth of 0.94 percent, by going down from $5.510 billion during the first quarter of last year to $5.458 billion during the current year.

On the other hand, the imports decreased by 0.56 percent, from $11.199 billion last year to $11.262 billion during the current year, the PBS data revealed. /395/