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Textile exports surprise everyone

The textile exports has made all time high in six months.

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The exports of textile commodities surged by 26.05 percent during the first half of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported.

The textile exports were recorded at $9381.300 million in July-December (2021-22) against the exports of $7442.415 million in July- December (2020-21), showing growth of 26.05 percent, according latest PBS data.

The textile commodities that contributed in trade growth included cotton yarn, the exports of which increased by 52.33 percent from $400.733 million last year to $610.427 million during the current year.

Likewise, the exports of raw cotton increased by 197.30 percent, from $0.593 million to $1.763 million, cotton cloth by 21.35 percent, from $935.009 million to $1134.645 million, cotton (carded or combed) by 100 percent to $1.605 million from zero exports last year, yarn (other than cotton yarn) increased by 110.07 percent, from $13.462 million to $28.279 million whereas exports of knitwear increased by 35.21 percent, from $1849.596 million to $2500.761 million.

Read more: Industrialization, exports keys to progress, prosperity: PM

In addition, the exports of bed wear increased to $1659.646 million from $1394.182 million, showing growth of 19.04 percent, towels’ export increased by 17.54 percent, from $445.697 million to $523.686 million, readymade garments by 22.93 percent, from $1490.157 million to $1831.856 million, art, silk and synthetic textile by 34.24 percent, from $167.500 million to $224.847 million, madeup articles (excluding bedwear and towels) by 11.36 percent, from 379.187 million to $422.254 million whereas the exports of all other textile materials increased by 26.59 percent, from $303.822 million to $384.601 million.

The only textile commodity that witnessed negative growth in trade was tents, canvas and Tarpulin, the exports of which decreased by 9.18 percent, from $62.477 million to $56.742 million.

Meanwhile, on year-on-year basis, the textile exports increased by 15.89 percent during the month of December 2021 as compared to the same month of last year.

The exports during December 2021 were recorded at $1623.578 million against the exports of $1400.997 million during December 2020.

On month-on-month basis, the exports textile from the country witnessed a decrease of 6.47 percent during December 2021 when compared to the exports of $1735.930 million in November 2021.

It is pertinent to mention here that the country’s total merchandise exports surged by 24.91 during the first five months of the current fiscal year compared to the corresponding period of last year.

The exports during July-December (2021-22) were recorded at $15.127 billion against the exports of $12.110 billion during July-December (2020-21).

Read more: Data reveals textile exports fell by 61% in 2022

On the other hand, the imports into the country also surged by 66.23 percent by growing from $24.454 billion last year to $40.649 billion during the current fiscal year, the PBS data added.

Courtesy: APP