Business

Textile exports surge 18.85% to $13.748 billion

Written by The Frontier Post

ISLAMABAD (APP): The exports of textile commodities witnessed an increase of 18.85 percent during the first eleven months of the current fiscal year as compared to the corresponding period of last year and surged by… percent on year-on-year basis (YoY).

The textile exports were recorded at $13748.296 million in July-May (2020-21) against the exports of $11567.400 million in July-May (2019-20), showing growth of 18.85 percent, according to latest data of Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in trade growth included knitwear, exports of which increased from $2572.991 million last year to $3414.300 million during the current year, showing growth of 32.70 percent.

Likewise, the exports of yarn (other than cotton yarn) increased by 20.24 percent, from $24.048 million to $28.915 million whereas, exports of bed wear increased by 24.60 percent from $1984.502 million to $2472.782 million.

The exports of towels increased by 28.54 percent, from $652.351 million to $838.507 million; exports of tents, canvas and tarpulin grew by 15.54 percent, from $87.975 million to $101.649 million; readymade garments by 14.35 percent, from $2367.263 million to $2706.867 million; madeup articles, excluding towels and beadwear by 23.43 percent, from $548.002 million to $676.372 million while the exports of art, silk and synthetic textile increased from $290.525 to $326.150 million, showing growth of 12.26 percent, cotton (carded or combed) by 3.17 percent, from $0.063 million to $0.065.

The exports of cotton cloth also increased by 0.97 percent, from $1699.702 million to $1716.216 million.

Meanwhile, the commodities that witnessed negative growth in trade included raw cotton, exports of which decreased by 96.51 percent, from $17.002 million to $0.593 million; cotton yarn decreased by 1.60 percent, from $910.577 million to $896.034 million.

The exports of all other textile materials also increased by 38.18 percent, from $412.399 million to $569.846 million, the PBS data revealed.

Meanwhile, on year-on-year basis, the textile exports increased by 41.14 percent during the month of May 2021 as compared to the same month of last year.

The exports during May 2021 were recorded at $1060.128 million against the exports of $751.124 million during May 2020.

On month-on-month basis, the exports from the country however witnessed decrease of 28.78 percent during May 2021 when compared to the exports of $1332.715 million in April 2021.

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The Frontier Post

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