Textile exports witness mild growth in October

ISLAMABAD: The textile exports from the country witnessed positive growth of 0.59 percent during the month of October 2016 compared to the same month of last fiscal year.

According to the latest data of Pakistan Bureau of Statistics, the textile exports during October 2016 were recorded at $1.053 billion compared to the exports of $1.047 billion during October 2015.

The commodities that contributed in the positive growth of textile sector included knitwear, exports of which grew by 4.89 percent by going up from $187.609 million during October 2015 to $196.781 million in October 2016.

According to the data, the exports of bed-wear increased from $165.819 million to $178.521 million, showing an increase of 7.66 percent while the exports of towels increased from $61.412 million to $67.361 million, showing an increase of 9.69 percent.

The other commodities that contributed in the positive growth in trade included tents, canvas and tarpaulin, exports of which grew by 113 percent by going up from $6.152 million to $13.146 million.

Similarly, the exports of readymade garments increased by 1.4 percent, from $174.458 million to $176.895 million, made-up articles (excluding towels and bed-wear) by 0.37 percent, from $54.953 million to $55.154 million while the exports of cotton (carded or combed) grew by 222 percent during the month under review. The textile products that witnessed negative growth during the month under review included raw cotton, exports of which declined by 1.3 percent, from $11.710 million to $11.558 million while the exports of cotton yarn decreased by 6.41 percent, from $121.627 million to $113.835 million.

Exports of cotton cloth decreased from $199.541 million to $184.085 million, showing decline of 7.75 percent, the exports of yarn (other than cotton yarn) decreased by 26.38 percent, by going down from $3.181 million to $2.342 million.

Exports of art, silk and synthetic textile also decreased by 3.4 percent by going down from $24.020 million to $23.203 million, the data revealed.

Meanwhile, during the first four months of the current fiscal year the textile exports from the country witnessed decrease of 4.35 percent when compared to the exports of the same period of last year.

The overall textile exports during July-October (2016-17) were recorded at $4.082 billion compared to the exports of 4.268 billion recorded during July-October (2015-16), the PBS data revealed.

The commodities that witnessed negative growth during the first four months included raw cotton, exports of which declined by 57 percent.

Similarly, the exports of cotton yarn decreased by 17.24 percent, cotton cloth by 4.91 percent, yarn (other than cotton yarn by 26.13 percent, knitwear by 1.85 percent, towels by 11.09 percent, while the exports of art, silk and synthetic textile declined by 26.55 percent.

On the other hand, the exports of cotton (carded or combed) increased by 368 percent, bed wear by 4 percent, tents, canvas and tarpaulin by 86 percent, readymade garments by 2.62 percent and made-up articles (Excluding Towels and bead-wear) by 0.36 percent.