Textile exports surge 26.55% to $6.021 billion in 4 months

ISLAMABAD: Pakistan’s textile exports registered an increase of 26.55 per cent during the first four months of the current fiscal year (2021/22), compared with the corresponding period of the last year, while it went up over 24 per cent on a year-on-year basis.

The textile exports were recorded at $6.021 billion in July-October (2021/22) against the exports of $4.758 billion in July-October (2020/21), showing a growth of 26.55 per cent, according to the latest data of issued by the Pakistan Bureau of Statistics.

The textile commodities that contributed in trade growth included cotton yarn, exports of which increased to $394.765 million during the current year from $230.329 million last year, showing a growth of 71.39 per cent.

Likewise, the exports of cotton cloth increased 18.54 per cent to $740.710 million from $624.878 million; cotton (carded or combed), 100 per cent to $1.543 million from zero exports last year, yarn (other than cotton yarn) increased 114.55 per cent to $17.239 million from $8.035 million, whereas the exports of knitwear increased 34.45 per cent to $1.601 billion from $1.182 billion.

In addition, the exports of bed-wear increased to $1.091 billion from $899.555 million, showing a growth of 21.30 per cent; towels, 14.17 per cent to $323.385 million from $283.255 million; readymade garments, 22.34 per cent to $1.158 billion from $947.070 million; art, silk and synthetic textile, 36.20 per cent to $143.320 million from $105.225 million; made-up articles, excluding bed-wear and towels, 11.55 per cent to $268.582 million from 240.776 million, whereas the exports of all other textile materials increased 27.73 per cent to $249.956 million from $195.695 million.

The textile commodities that witnessed negative growth in trade included raw cotton, exports of which decreased 100 per cent to zero exports from $0.523 million and tents, canvas and Tarpulin, the exports of which decreased 23.98 per cent to $30.810 million from $40.528 million.

Meanwhile, on a year-on-year basis, the textile exports increased 24.24 per cent during October 2021, compared with the same month of the last year.

The exports during October 2021 were recorded at $1.60 billion against the exports of $1.288 billion during October 2020.

On a month-on-month basis, the exports from the country witnessed an increase of 7.65 per cent during October 2021, compared with the exports of $1.487 billion in September 2021.

The country’s total merchandise exports surged 24.94 per cent during the first four months of the current fiscal year, compared with the corresponding period of the 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), the PBS data showed.

Similarly, the imports into the country also surged 65.40 per cent by growing to $25.101 billion during the current fiscal year from $15.176 billion last year, the PBS data added.