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ISLAMABAD: The country’s textile group exports witnessed 26.55 percent growth during the first four months (July-October) of the current fiscal year and remained $6.021 billion compared to $4.758 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 7.65 percent growth and remained $1.6 billion in October 2021 compared to $1.487 billion in September 2021.

On year-on-year basis, textile group exports witnessed 24.24 percent growth in October 2021, when compared to $1.288 billion in October 2020.

Cotton yarn exports registered a growth of 71.39 percent during July-October 2021 and remained at $394.765 million compared to $230.329 million during the same period of last year and increased by 77.34 percent in October 2021 and remained $106.148 million when compared to $59.855 million during the same month of last year.

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 95.58 percent as it reached $6.197 billion in July-October 2021 compared to $3.168 billion during the same period of the last fiscal year and registered 6.54 percent growth in October 2021 and remained $1.604 billion when compared to $1.505 billion in September 2021.

Textile group exports witness 27.41pc growth in Q1

On year-on-year basis, petroleum group imports registered 90.88 percent growth when compared to $840.484 million during the same month of 2020.

Construction and mining machinery imports have witnessed growth of 30.08 percent during the July-October and remained at $50.548 million compared to $38.859 million during July-October 2021.

The construction and mining machinery registered 57.49 percent growth on year-on-year basis and remained $11.922 million in October 2021 compared to $7.570 million in October 2020; however, it registered negative growth of 33.65 percent on month-on-month basis when compared to $17.967 million in September 2021.

The country’s exports during July-October, 2021 totalled $9.462 billion (provisional) against$7.573 billion during the corresponding period of last year showing an increase of 24.94 percent.

The country’s exports in October 2021 were $2.466 billion (provisional) as compared to $2.409 billion (provisional) in September 2021 showing an increase of 2.37 percent and by 17.37 percent as compared to $2.101 billion in October 2020.

The country’s imports during July-October 2021 totalled $25.101 billion (provisional) as against $15.176 billion during the corresponding period of last year showing an increase of 65.40 percent.

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The imports in October 2021 were $6.386 billion (provisional) as compared to $6.563 billion (provisional) in September 2021 showing a decrease of 2.70 percent but increased by 64.16 percent as compared to $3.890 billion in October 2020.

The country’s trade deficit widened by 105.43 percent from $7.603 billion in July-October 2020 to $15.639 billion in July-October 2021, and widened by 117.22 percent in October 2021, and remained $3.886 billion compared to $1.789 billion in October 2020.

Main commodities of exports during October 2021 were knitwear (Rs78,497 million), readymade garments (Rs51,068 million), bed wear (Rs49,425 million), cotton cloth (Rs31,528 million), rice others (Rs20,431 million), cotton yarn (Rs18,225 million), towels (Rs14,092 million), madeup articles (excl towels and bedwear) (Rs12,217 million), rice basmati (Rs8,987 million), and oil seeds, nuts, and kernals (Rs6,893 million).

Main commodities of imports during October, 2021 were petroleum products (Rs123,455 million), natural gas, liquefied (Rs81,608 million), petroleum crude (Rs62,718 million), medicinal products (Rs49,292 million),iron and steel (Rs46,694 million), palm oil (Rs42,257 million), fertiliser manufactured (Rs39,132 million), plastic materials (Rs35,984 million), iron and steel scrap (Rs35,034 million),and power generating machinery (Rs27,000 million).

Copyright Business Recorder, 2021

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