Textile exports up 3pc to $3.371 billion in first quarter

ISLAMABAD, Oct 21 (APP):The textile exports from the country increased by 2.95 percent during the first quarter of the current fiscal year compared to the corresponding period of the last fiscal year.

The textile exports during July-September (2019-20) were recorded at $3371.974 million against the exports of $3275.303 million during July-September (2018-19), showing growth of 9.95 percent, according to the latest data of Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in positive growth in trade included raw cotton, exports of which grew by 53.65 percent, from $7.047 million to $10.828 million.

The exports of yarn (other than cotton yarn) increased by 21.95 percent, from $7.759 million last year to $9.462 million whereas the knitwear exports went up by 11.14 percent, from $701.393 million to $779.548 million.

Likewise, the bed wear exports increased 2.84 percent, from $583.949 million to $600.562 million whereas the exports of readymade garments increased by 11.49 percent, from $598.612 million to $667.361 million.

The exports of art, silk and synthetic textile also increased by 8.37 percent from $72.568 million to $78.641 million while the exports of cotton (carded or combed) witnessed cent percent increase and amounted $0.032 million during the period under review.

The products that witnessed decrease included cotton yarn, exports of which decreased by 6.19 percent, from $313.707 million to $294.280 million, the PBS data revealed.

The exports of cotton cloth also declined by 5.6 percent, from $529.053 million last year to $499.419 million this year, export of towels decreased by 2.31 percent, from $184.431 million to $180.169 million.
The exports of tents, canvas and tarpaulin exports went down from $16.717 million to $15.758 million, showing negative growth of 5.74 percent, made-up articles (excluding towels bed-wear) by 6.58 percent, from $160.152 million to $149.613 million whereas the exports of other textile materials decreased by 13.63 percent, from $99.915 million to $86.301 million.

Meanwhile, on year-on-year basis, the exports of textile group increased by 4.38 percent during the month of September 2019 as against September 2018. The textile exports during September 2019 were recorded at 1068.701 million against the exports of $1023.891 million.

On month-on-month basis, the textile exports however declined by 10.26 percent during September 2019 when compared to the exports of $1190.843 million in August 2019.

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).

The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.

On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.

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