Textile exports decrease by 1.42pc in 8 months: SBP

ISLAMABAD: The exports of textile and its articles from the country witnessed decrease of 1.42 percent during the eight months of current financial year 2020-21 as compared to the corresponding month of last year.

Pakistan exported textile and its articles worth US $9057.503 million during July-February (2020-21) against the exports of US $9152.889 million during July-February (2019-20), showing negative growth of 1.42 percent, according to the data issued by the State Bank of Pakistan.

The commodities that contributed in growth were man-made staple fibers, export of which grew from $206.962 million last year to $208.318 million during the period under review, showing growth of 0.65 percent.

The exports of articles of apparel and clothing accessories grew by 1.63 percent from $2247.134 million to $2058.455 million while the exports other made-up textile articles (sets, worn cloth) also increased by 9.86 percent from $2692.131 million to $2957.635 million.

During the period under review, the export of silk rose by 44.41 percent from $1.360 million to $1.964 million whereas the export of other vegetable textile fibers (paper yarn) increased by 52.23 percent from $4.813 million to $7.327 million, the data revealed.

Meanwhile, the export of special woven fabrics, tufted textile fabrics, lace increased by 89.52 percent from $26.234 million to $49.720 million, the data added.

On the other hand, the commodities that contributed in negative growth included cotton, exports of which declined by 21.44 percent from $2215.134 million to $1740.110 million while the export of man-made filaments also decreased by 34.02 percent from $36.526 million to $24.097 million.

During the period under review, the articles of apparel and clothing not knitted dipped by 4.63 percent from $1806.264 million to $1722.633 million while the exports of carpets and other textile floor covering also decreased by 4.29 percent, from $52.843 million to $50.573 million, the data revealed.