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ISLAMABAD: The country's textile group exports witnessed 28.67 percent growth during the first two months (July-August) of current fiscal year and remained $ 2.933 billion compared to $2.280 billion during the same period of last fiscal year, says the Pakistan Bureau of Statistics (PBS).

The exports and imports data released by the PBS revealed that textile group exports on month-on-month basis witnessed 0.57 percent decline and remained $ 1.462 billion in August 2021 compared to $ 1.471 billion in July 2021.

Textile group exports have witnessed a growth of 45.19 percent on year-on-year basis and remained $ 1.462 billion in August 2021 compared to $ 1.007 billion in August 2020.

Cotton yarn exports registered a growth of 67.97 percent during July-August 2021 and remained at $ 193.389 million compared to $ 115.136 million during the same period of last year and increased by 89.55 percent in August 2021 and remained $ 103.518 million when compared to $ 54.612 million during the same month of last year.

Textile exports decline 11.32pc MoM

Raw cotton exports witnessed 100 percent decline on month-on-month basis as well as on year-on-year basis.

Petroleum group imports witnessed an increase of 102.69 percent as it reached $ 3.087 billion in July-August 2021 compared to $ 1.523 billion during the same period of last fiscal year and registered 32.06 percent growth in August 2021 and remained $ 1.756 billion when compared to $ 1.330 billion in July 2021. On year on year basis, petroleum group imports registered 127.99 growth when compared to $ 770.58 million during the same month of 2020.

Construction machinery imports have witnessed growth of 22.49 percent during the July-August 2021 and remained at $ 20.660 million compared to $ 16.867 million during July-August 2021.

The construction machinery registered 41.45 percent growth on year-on-year basis and remained $ 9.982 million in August 2021 compared to $ 7.057 million in August 2020, however, it registered negative growth of 6.52 percent on month-on-month basis when compared to $ 10.678 million in July 2021.

The country's exports during July-August 2021 were $ 4.587 billion against $ 3.584 billion during the corresponding period of last year showing an increase of 27.99 percent.

Despite pandemic, global demand for Pakistan textile to remain strong

The country's export in August, 2021 was $ 2.248 billion as compared to $ 2.340 billion in July 2021 showing a decrease of 3.93 but increased by 41.92 percent as compared to $ 1.584 billion in August 2020.

The country's imports during July-August, 2021 were totaled $ 12.168 billion as against $ 6.990 billion during the corresponding period of last year showing an increase of 74.08 percent.

The imports in August 2021 were $ 6.593 billion as compared to $ 5.575 billion in July 2021 showing an increase of 18.26 percent and by 98.82 percent as compared to $ 3.316 billion in August 2020.

Copyright Business Recorder, 2021

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