Textile exports up 4.88pc in 5 months: PBS

Textile exports up 4.88pc in 5 months: PBS

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Islamabad: In the first five months of the current fiscal year, exports of textile goods increased by 4.88% compared to the same period last year.

According to the latest statistics of the Pakistan Bureau of Statistics (PBS), textile exports from July to November (2020-21) were USD 604,363,600, while exports from July to November (2019-20) were USD 577.1317 million, an increase By 4.88%. ).

The textiles that promote the growth of the knitting trade include knitwear. Its export value increased from US$1.327 million last year to US$1511.29 million this year, an increase of 14.34%.

Similarly, the export of bedding also increased from US$1013.648 to US$1138.174, an increase of 12.28%, while the export of towels increased from US$314.88 million to US$3.7627.0 million, an increase of 14.24%.

The export of tents, canvas and tarpaulin increased by 58.05%, from US$31.786 to US$50.238, the export of ready-made clothing increased by 4.36%, from US$115,536 million to US$1,205.167 million, and cosmetics (excluding towels and bedding) Supplies) exports increased by 15.53%, from 265.24 billion US dollars to 30115.15 billion US dollars.

At the same time, commodities with negative growth in commodity transactions included raw cotton, whose exports fell 96.34% from 14.281 million US dollars to 523,000 US dollars, while cotton yarn exports fell 37.34%, from 486.017 US dollars to 198.357 US dollars.

The export of cotton cloth also dropped by 8.73%, from 847.108 million U.S. dollars to 773.171 U.S. dollars, yarns (except cotton yarn) dropped by 16.69%, from 126.06 billion U.S. dollars to 10.547 million U.S. dollars, and artistic silk and synthetic fibers fell by 1.33%. From 1358.51 million US dollars to 1340.42 million US dollars.

At the same time, compared with the same period last year, textile exports in November 2020 increased by 9.27% ​​year-on-year. As of November 2020, the export value was 102.6063 million U.S. dollars, while the export value was 117.9944 million U.S. dollars.

Compared with the US$1288.620 million in October 2020, the country’s exports have decreased nominally by 0.20% on a monthly basis.

What needs to be mentioned here is that in the first five months of this fiscal year, the country’s merchandise exports increased by 2.11% compared to the same period last year.

According to PBS data, the export value from July to November (2020-21) was 9.737 billion US dollars, while the export value from July to November (2019-20) was 9.536 billion US dollars, an increase of 2.11%.

During the reporting period, the country’s imports also increased by 1.29%, from US$19.175 billion last year to US$19.422 billion this fiscal year.

According to these figures, during the reporting period, the trade deficit increased slightly by 4.8% to 9.685 billion US dollars, compared with 9.639 billion US dollars in the same period last year.

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