Textile exports stand at $11.129 bln in 10 months

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ISLAMABAD, May 21 (APP):The textile exports from the country during July-April (2018-19) were recorded at $11129.192 million compared to the exports of $11131.612 million of the same period of last year, showing nominal decrease of 0.02 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in positively in external trade included knitwear, exports of which grew from $2203.500 million last year to $2396.474 million during the current fiscal year, showing growth of 8.76 percent.

The exports of bedwear also increased by 2.4 percent, from $1855.540 million to $1900.035 million whereas the exports of tents, canvas and tarpaulin increased by1.41 percent, from $72.021 million to $73.037 million.

The exports of readymade garments grew by 3.21 percent, from $2119.943 million to $2188.007 million and the exports of madeup articles increased by 1.15 percent, from $571.392 million last year to $577.985 million, the data revealed.
Meanwhile, the textile commodities that witnessed negative growth in external trade included raw cotton, exports of which shrunk by 67.2 percent, from $56.567 million last year to $18.554 million.
The exports of cotton yarn also decreased from $1117.643 million to $941.332 million, a decline of 15.78 percent whereas the exports of cotton cloth slid by 2.7 percent, from $1823.625 million to $1774.434 million.

Similarly, the exports of yearn (other than cotton yarn) decreased by 0.29 percent, from $26.388 million to $26.311 million while the exports of towels decreased from $667.937 million to $658.624 million, a decline of 1.39 percent.

The exports of art, silk, synthetic textile also slid by 1.9 percent, from $253.900 million to $249.075 million whereas the exports of all other textile materials decreased by 10.46 percent, from $363.151 million to $325.166 million.

On year-on-year basis, the textile exports from the country witnessed growth of 21.26 percent in April 2019 compared to the exports of April 2018. The textile exports during April 2019 were recorded at $1138.827million compared to the exports of $1148.588 million, the data revealed.

On month-on-month basis, the textile exports from the country, decreased by 4.59 percent in April 2019 when compared to the exports of $1088.870 million recorded during March 2019.

It is pertinent to mention here that the country’s merchandize trade deficit plunged by 12.82 percent during the first ten months of the current fiscal year compared to the corresponding period of last year.

The trade deficit contracted by $3.867 billion to $26.302 billion during July-April (2018-19) against the deficit of $30.169 billion recorded during July-April (2017-18).

The exports during the period under review witnessed nominal decrease of 0.12% by falling from $19.191 billion during last year to $19.169 billion during the ongoing fiscal year.

On the other hand, the imports declined by 7.88% to $45.471 billion during the period under review from $49.360 billion last year, the data revealed.