Textile exports up 9.06pc to $11.355bn in 3Qs; 30.38pc in March

ISLAMABAD: The exports of textile commodities witnessed an increase of 9.06 percent during the first three quarters (Qs) of the current fiscal year as compared to the corresponding period of last year.

The textile exports were recorded at $11,355.478 million in July-March (2020-21) against the exports of $10,412.504 million in July-March (2019-20), showing growth of 9.06 percent, according to latest data of Pakistan Bureau of Statistics (PBS).

The textile commodities that contributed in trade growth included knitwear, exports of which increased from $2,299.800 million last year to $2,780.884 million during the current year, showing growth of 20.92 percent.

Likewise, the exports of yarn (other than cotton yarn) increased by 12.53 percent, from $20.937 million to $23.561 million whereas, exports of bed wear increased by 16.50 percent from $1,761.654 million to $2,052.260 million.

The exports of towels increased by 16.84 percent, from $592.370 million to $692.111 million; exports of tents, canvas and tarpaulin grew by 23.46 percent, from $72.216 million to $89.159 million; readymade garments by 4.53 percent, from $2,170.340 million to $2,268.568 million; made up articles, excluding towels and bed wear by 14.85 percent, from $492.366 million to $565.496 million.

Meanwhile, the commodities that witnessed negative growth in trade included raw cotton, exports of which decreased by 96.51 percent, from $17.002 million to $0.593 million; cotton yarn decreased by 12.03 percent, from $819.808 million to $721.212 million whereas the exports of cotton cloth also decreased by 8.28 percent, from $1,547.384 million to $1,419.184 million.

Meanwhile, on year-on-year basis, the textile exports increased by 30.38 percent during the month of March 2021 as compared to the same month of last year. The exports during March 2021 were recorded at $1,355.568 million against the exports of $1,039.687 million.

On month-on-month basis, the exports from the country witnessed increase of 9.85 percent during March 2021 when compared to the exports of $1,234.040 million in February 2021.

It is pertinent to mention here that the country’s merchandize exports increased by 7.12 percent during the first three quarters of the current fiscal year (2020-21) as compared to the corresponding period of last year.

The exports from the country during July-March (2020-21) were recorded at $18.685 billion against the exports of $17.443 billion during July-March (2019-20), according to the latest PBS data.

The imports during the period under review also increased by 13.57 percent by growing from $34.791 billion last year to $39.512 billion during the first three quarters of current fiscal year.

Based on the figures, the country’s trade deficit increased by 20.05 percent during the first three quarters as compared to the corresponding period of last year. The trade deficit during the period was recorded at $20.827 billion against the deficit of $17.348 billion last year, according to the PBS data.