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ISLAMABAD: The country's textile group exports witnessed 27.41 percent growth during the first quarter (July-September) of current fiscal year and remained $4.420 billion compared to $3.469 billion during the same period of the 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 1.69 percent growth and remained $1.487 billion in September 2021 compared to $1.462 billion in August 2021.

On year-on-year basis textile group exports witnessed 25.01 percent in September 2021, when compared to $1.189 billion in September 2020.

Cotton yarn exports registered a growth of 69.30 percent during July-September 2021 and remained at $288.617 million compared to $170.475 million during the same period of last year and increased by 72.08 percent in September 2021 and remained $95.228 million when compared to $55.339 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 97.28 percent as it reached $4.592 billion in July-September 2021 compared to $2.328 billion during the same period of the last fiscal year and registered 14.29 percent negative growth in September 2021 and remained $ 1.505 billion when compared to $ 1.756 billion in August 2021.

On year-on-year basis, petroleum group imports registered 87.04 growth when compared to $805.086 million during the same month of 2020.

Construction machinery imports have witnessed growth of 23.48 percent during the July-September and remained at $38.635 million compared to $31.289 million during July-September 2021.

The construction machinery registered 24.64 percent growth on year-on-year basis and remained $17.976 million in September 2021 compared to $14.422 million in September 2020, however, it registered growth of 79.96 percent on month-on-month basis when compared to $9.989 million in August 2021.

The country's exports during July-September 2021 totalled $6.997 billion (provisional) against $5.472 billion during the corresponding period of last year showing an increase of 27.87 percent.

The country's export in September 2021 was $2.410 billion (provisional) as compared to $2.247 billion (provisional) in August 2021, showing an increase of 7.25 and by 27.72 percent as compared to $1.887 billion in September 2020.

The country's imports during July-September 2021 totalled $18.747 billion (provisional) as against $11.286 billion during the corresponding period of the last year showing an increase of 66.11 percent.

Textile exports: higher value addition and volumes

The imports in September 2021 were $6.595 billion (provisional) as compared to $6.577 billion (provisional) in August 2021, showing an increase of 0.27 percent and by 53.48 percent as compared to $4.297 billion in September 2020.

The country's trade deficit widened by 102.10 percent from $5.817 billion in July-September 2020 to $11.750 billion in July-September 2021, and widened by 73.65 percent in September 2021, and remained $4.185 billion compared to $2.410 billion in September 2020.

Main commodities of exports during September 2021 were knitwear Rs65,215 million, readymade garments Rs46,424 million, bed wear Rs46,241 million, cotton cloth Rs31,839 million, cotton yarn Rs16,004 million, rice and others Rs15,409 million, towels Rs13,561 million, made up articles (excl towels and bedwear) Rs10,768 million, rice basmati Rs8,612 million, and art, silk and synthetic textile Rs6,511 million.

Main commodities of imports during September 2021 were petroleum products Rs106,932 million, medicinal products Rs77,003 million, petroleum crude Rs73,276 million, natural gas, liquefied Rs62,717 million, palm oil Rs52,792 million, plastic materials Rs42,531 million, iron and steel Rs40,154 million, mobile phones Rs35,126 million, iron and steel scrap Rs32,266 million, and power generating machinery Rs31,920 million.

Copyright Business Recorder, 2021

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