Pakistan exported textile products worth $5.941 billion in 4 months
Business
Pakistan exported textile products worth $5.941 billion in 4 months
ISLAMABAD (Dunya News) – The textile exports from the country reached to $5,941.099 million during the first four months of the current fiscal year (2022-23), Pakistan Bureau of Statistics (PBS) reported.
The textile exports showed a decline of 1.34 percent during the period under review when compared to the exports of $6,021.813 during the same period of last year (July-October 2021-22).
The textile products that witnessed positive growth during July-October (2022-23) as compared to the corresponding period of last year included cotton cloth, the exports of which grew by 1.27 percent to $750.115 million from $740.711 million while the exports of knit wear increased by 6.92 percent, from $ 1,601.778 million to $ 1,712.606 million.
The exports of tents, canvas and tarpaulin increased by 21.24, from $30.810 million to $37.355 million, ready-made garments by 2.46 percent, from $ 1,158.603 million to $ 1,187.059 million and art, silk and synthetic textile by 2.06 percent from $ 143.320 million to $ 146.276 million.
The exports of raw cotton witnessed cent percent growth by growing to $9.846 million during the period, according to PBS data. The textile goods that witnessed negative growth in trade included cotton yarn, the exports of which declined by 18.14 percent, from $ 394.765 million to $285.315 million.
Likewise, the exports of cotton (carded or combed) declined by 86.14 percent, from $1.542 million to $0.214 million, yarn (other than cotton yarn) by 14.56 percent, from $17.240 million to $14.730 million, bed-wear by 8.64 percent from $1,091.124 million to $996.840 million, towels by 2.02 percent, from $323.385 million to $316.860 million, made-up articles (excluding towels, bedwear) by 11.37 percent, from $168.583 million to $238.043 million while the exports of all other textile materials went down by 1.65 percent, from $249.952 million to $245.840 million.
Meanwhile, on year-on-year (YoY) basis, the textile goods’ exports declined by 15.23 percent in October 2022 to $ 1,357.038 million against exports of $ 1,600.930 million in October 2021.
On month-on-month (MoM) basis the textile goods’ exports however decreased by 11.13 percent in October 2022 when compared to the exports of $ 1,527.071 million in September 2022, according to the PBS data.
It is pertinent to mention here that the overall merchandize exports during the first four months of the current fiscal year increased by 0.94 percent to $9,549 million as compared to the exports of $9,460 million during the corresponding period of last year.
On the other hand, the imports of the country decreased by 16.21 percent during the period under review by going down from $25,084 million last year to $21,018 million during the current year.
Based on the figures, the trade deficit was recorded at $11,469 million this year against the deficit of $15,624 million last year, showing a decline of 26.59 percent, according to the data.
