Raw cotton export decreases 72.49pc in 8 months

ISLAMABAD: The exports of raw cotton from the country during first 8 months of current financial year decreased by 72.49 percent as compared the corresponding period of last year.

During the period from July-February, 2018-19 about 9,446 metric tons of the raw cotton valuing US$ 15.284 million exported as against the exports of 33,697 metric tons worth US$ 55.549 million of same period of last year, according the data of Pakistan Bureau of Statistics.

Meanwhile, exports of cotton yarn also witnessed negative growth of 13.53 percent as about 284,652 metric tons cotton yarn costing US$ 743.405 million exported as against the exports of 323,595 metric tons valuing US$ 859.716 million of same period of last year, it added.

However, in last 8 months about 135 metric tons of cotton carded or combed worth of US$ 108,000 exported as compared the exports of 12 metric tons valuing US$ 5,000 of same period last year and  grew by 2,060.00 percent, the data reveled.

It may be recalled that the textile exports from the country had witnessed an increase of 1.38 percent during the first eight months of the current fiscal year compared to the exports of the same period of last year.

The textile exports from the country during July-February (2018-19) were recorded at $8901.892 million compared to the exports of $8780.309 million of the same period of last year.

The textile products which had contributed in positive growth in last 8 months included knitwear, grew from $1741.699 million last year to $1939.553 million recorded growth of 11.39 percent The exports of bedwear also increased by 3.53 percent and reached at  US$1529.960 million whereas the exports of tents, canvas and tarpaulin increased by 5.2 percent, from $60.001 million to $63.122 million.

The exports of readymade garments grew by 2.72 percent, from $1695.814 million to $1741.870 million and the exports of madeup articles increased by 2.12 percent, from $451.646 million last year to $461.236 million, the data revealed.

It is worth mentioning here that government was determined to boost textile sector exports by ensuring the quality cotton and set for producing about 15 million bales during the current crop season.

In this regard, the crop cultivation targets is likely to be fixed at over 8 million acres, adding that in Punjab, cotton crop would be cultivated over  6.25 million acres of the land while in Sindh province, the crop would be cultivated over 1.51 million acres.