NEWS DESK
ISLAMABAD: Pakistan’s textile exports reached $5,941.099 million during the first four months of the ongoing fiscal year (2022-23), said the Pakistan Bureau of Statistics (PBS).
The textile exports declined by 1.34 per cent during the period under review against last year’s exports of $6,021.813mn for the same time period (July-October 2021-22).
Goods Depicting Upward Growth Trend
The textile products which depicted positive growth during July-October (2022-23) as compared to the same period last year included cotton cloth, which surged by 1.27% to $750.115mn from $740.711mn, while the exports of knitwear increased by 6.92%, from $1,601.778mn to $1,712.606mn. Furthermore, the exports of tents, canvas and tarpaulin improved by 21.24, from $30.810mn to $37.355mn, ready-made garments by 2.46%, from $1,158.603mn to $1,187.059mn and art, silk and synthetic textile by 2.06% from $143.320mn to $146.276mn. The exports of raw cotton depicted a cent per cent growth by surging to $9.846mn during the period, PBS revealed in its data.
Goods Depicting Decline in Exports
Meanwhile, the goods that declined in growth included cotton yarn, the exports of which went down by 18.14%, from $394.765mn to $285.315mn. Similarly, the exports of cotton (carded or combed) depreciated by 86.14%, from $1.542mn to $0.214mn, yarn (other than cotton yarn) by 14.56%, from $17.240mn to $14.730mn, bed-wear witnessed of 8.64% from $1,091.124mn to $996.840mn, towels by 2.02%, from $323.385mn to $316.860mn, made-up articles (excluding towels, bedwear) by 11.37%, from $168.583mn to $238.043mn while the exports of all other textile commodities went down by 1.65%, from $249.952mn to $245.840mn.
Meanwhile, on a year-on-year (YoY) basis, the textile goods’ exports decreased by 15.23% in October 2022 to $1,357.038mn against exports of $1,600.930mn in October 2021. Whereas, on a month-on-month (MoM) basis the textile commodities’ exports decreased by 11.13% in October 2022 as compared to the exports of $1,527.071mn in September 2022, according to figures by PBS. It is pertinent to mention that the overall merchandize exports during the first four months of the current fiscal year surged by 0.94% to $9,549mn as compared to the exports of $9,460mn during the corresponding period of last year. Meanwhile, the country’s imports decreased by 16.21% during the period under review going down from $25,084mn last year to $21,018mn in the current year. According to the figures, the trade deficit was recorded at $11,469mn this year against the deficit of $15,
