Textile exports surge 28.41% to $7.758 billion in five months

ISLAMABAD: The exports of textile commodities witnessed an increase of 28.41 per cent during the first five months of the current fiscal year (2021/22), compared with the corresponding period of the last year and went up over 35 per cent on a year-on-year basis, the latest data of the Pakistan Bureau of Statistics (PBS) revealed.

The textile exports were recorded at $7758.020 million in July-November (2021/22) against the exports of $6.041 billion in July-November (2020/21), showing a growth of 28.41 per cent.

The textile commodities that contributed in trade growth included cotton yarn, exports of which increased from $304.533 million last year to $503.897 million during the current year, showing a growth of 65.45 per cent.

Likewise, the exports of cotton cloth increased by 22.30 per cent, from $773.171 to $945.561, cotton (carded or combed) by 100 per cent to $1.605 million from zero exports last year, yarn (other than cotton yarn) increased by 118.82 per cent, from $10.547 million to $23.079 million whereas exports of knitwear increased by 36.62 per cent, from $1507.519 million to $2059.623 million.

In addition, the exports of bed-wear increased to $1.406 billion from $1.138 billion, showing a growth of 23.55 per cent, towels by 18.19 per cent to $428.668 million , from $362.700 million, readymade garments by 23.38 per cent, from $1.205 billion to $1.487 billion, art, silk and synthetic textile by 37.58 per cent, from $134.044 million to $184.415 million, made-up articles, excluding bed-wear and towels, 14.86 per cent, from 307.96 million to $352.733 million, whereas the exports of all other textile materials increased by 30.21 per cent, from $247.398 million to $322.147 million.

The textile commodities that witnessed negative growth in trade included raw cotton, exports of which decreased by 100 per cent, from $0.523 million to zero exports and tents, canvas and tarpulin, the exports of which decreased by 14.84 per cent, from $50.239 million to $42.783 million.

Meanwhile, on a year-on-year basis, the textile exports increased by 35.33 per cent during the month of November 2021 as compared to the same month of last year.

The exports during November 2021 were recorded at $1736.229 million against the exports of $1282.958 million during November 2020.

On a month-on-month basis, textile exports from the country witnessed an increase of 8.45 per cent during November 2021 when compared to the exports of $1600.930 million in October 2021.

The country’s total merchandise exports surged by 26.89 during the first five months of the current fiscal year compared to the corresponding period of last year.

The exports during July-November (2021-22) were recorded at $12.364 billion against the exports of $9.744 billion during July-November (2020-21).

The imports into the country also surged by 69.57 per cent by growing from $19.468 billion last year to $33.012 billion during the current fiscal year, the PBS data added.

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