Textile exports increase 7.7pc in July-December

ISLAMABAD: Exports of textile commodities witnessed an increase of 7.7 percent during the first half of the current fiscal year as compared to the corresponding period of last year.

The textile exports were recorded at $7.4 billion in July-December (2020-21) against the exports of $6.9 billion in July-December (2019-20), showing growth of 7.7 percent, according to Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in positive trade growth included knitwear, exports of which increased from $1.5 billion last year to $1.8 billion during the current year, showing growth of 16.5 percent.

Likewise, exports of bed wear increased 16.3 percent by growing from $1.1 billion to $1.3 billion, while exports of towels increased 17.4 percent from $379 million to $445 million.

The exports of tents, canvas and tarplin grew 57.7 percent from $39 million to $62 million, while the exports of readymade garments increased 5.5 percent from $1.4 billion to $1.4 billion and the exports of art, silk and synthetic textile remained flat at $167 million, while exports of made-up article (excluding towels and bed wear) increased 17.4 percent from $322 million to $379 million.

Meanwhile, the commodities that witnessed negative growth in trade included raw cotton, exports of which declined 96 percent from $15.3 million to $0.5 million while the exports of cotton yarn decreased 26.3 percent from $544 million to $400 million. The exports of cotton cloth decreased 7.73 percent from $1 billion to $935 million and yarn (other than cotton yarn) 7.2 percent from $14 million to $13 million.

Meanwhile, on year-on-year basis, the textile exports increased 22.7 percent during the month of December 2020 as compared to the same month of last year.

Exports during December 2020 were recorded at $1.4 billion against the exports of $1.1 billion.

On month-on-month basis, the exports from the country witnessed increase of 9.2 percent during December 2020 when compared to the exports of $1.2 billion in November 2020.

The country’s merchandise exports increased 4.9 percent during the first half of the current fiscal year (2020-21) as compared to the corresponding period of last year. Total exports from the country during July-December were recorded at $12 billion as against the exports of $11 billion during July-December (2019-20), according to the latest PBS data.

The imports into the country during the period under review also increased 5.7 percent by growing from $23.1 billion last year to $24.5 billion during the first half of current fiscal year.

Based on the figures, the country’s trade deficit increased 6.4 percent during the first half compared to the corresponding period of last year. The trade deficit during the first six months of the current fiscal year was recorded at $12.4 billion against the deficit of $11.6 billion last year.