Textile exports surge 28.67% in 2 months; 45.19% in August

ISLAMABAD: The exports of textile products surged 28.67 per cent during the first two months of the current fiscal year, compared with the corresponding period of the last year and surged 45.19 per cent on a year-on-year basis, according to the data released by the Pakistan Bureau of Statistics.

The textile exports were recorded at $2.933 billion in July-August (2021/22) against the exports of $2.280 billion in July-August 2020/21, showing a growth of 28.67 per cent, the PBS data revealed.

The textile commodities that contributed in trade growth included cotton yarn, the exports of which increased to $193.389 million during the current year from $115.136 million last year, showing a growth of 67.97 per cent.

Likewise, the exports of yarn cotton cloth increased 24.74 per cent to $367.624 million from $294.724 million, whereas, exports of cotton (carded or combed) increased 100 per cent to $0.770 million.

The exports of yarn (other than cotton yarn) increased 123.73 per cent to $7.770 million from $3.473 million, whereas the exports of knitwear went up 34.12 per cent to $756.883 million from $564.343 million and bed-wear 24.50 per cent to $528.109 million from $424.187 million.

The PBS data also showed that the exports of towels during the period under review increased 20.67 per cent to $160.612 million from $133.104 million, readymade garments 22.57 per cent to $584.913 million from $477.216 million, art, silk and synthetic textile 34.08 per cent to $69.202 million from $51.613 million, made-up articles, excluding towels and bed-wear 21.26 per cent to $133.194 million from $109.846 million, whereas the exports of other textile materials increased 37.44 million to $119.222 million from $86.743 million.

The commodities that witnessed negative growth during the period under review included raw cotton, exports of which decreased cent per cent, whereas the exports of tents, canvas and tarpaulin declined 37.19 per cent to $12.250 million from $19.504 million.

Meanwhile, on a year-on-year basis, the textile exports increased 45.19 per cent during the month of August 2021, compared with the same month of the last year.

The exports during August 2021 were recorded at $1462.753 million against the exports of $1,007.509 million during August 2020.

On a month-on-month basis, the exports from the country; however, witnessed a slight decrease of 0.57 per cent during August 2021, compared with the exports of $1,471.185 million in July 2021.

The exports from the country witnessed an increase of 27.59 per cent during the first two months of the current fiscal year (2021/22), compared with the corresponding months of the last year.

According to the PBS data, the exports from the country stood at $4.573 billion during July-August (2021/22), as against the exports of $3.584 billion recorded during July-August (2020/21), showing a growth of 27.59 per cent.

The imports during the months under review also went up 72.59 per cent by growing to $12.064 billion in July-August (2021/22) from $6.990 billion last year.