Textile exports increase 26pc to $9.38bln in July-December

ISLAMABAD: Pakistan’s textiles exports surged by 26.05 percent to $9.381 billion during the first half of the current fiscal year 2021-22, as compared to $7.442 billion in the corresponding half last year, Pakistan Bureau of Statistics (PBS) reported.

Commodities that contributed in trade growth included cotton yarn, the exports of which increased by 52.33 percent to $610.427 million during the half, from $400.733 million last year.

Likewise, raw cotton exports went up 197.30 percent to $1.763 million from $0.593 million, cotton cloth went up 21.35 percent to $1.134 billion from $935.009 million, cotton (carded or combed) increased 100 percent to $1.605 million from zero exports last year, yarn (other than cotton yarn) increased 110.07 percent to $28.279 million from $13.462 million, whereas exports of knitwear increased by 35.21 percent to $2.5 billion from $1.849 billion last year.

In addition, half-year exports of bed wear increased 19 percent to $1.659 billion from $1.394 billion, towels climbed up 17.54 percent to $523.686 million from $445.697 million, readymade garments went up 22.93 percent to $1.831 billion from $1.490 billion; art, silk and synthetic textile increased 34.24 percent to $224.847 million from $167.500 million, madeup articles (excluding bed wear and towels) grew 11.36 percent to $422.254 million from 379.187 million, whereas the exports of all other textile materials increased by 26.59 percent to $384.601 million from $303.822 million.

The textile commodities that witnessed negative growth in trade were tents, canvas, and tarpaulin, the exports of which decreased by 9.18 percent, from $62.477 million to $56.742 million.

Meanwhile, on year-on-year basis, the textile exports increased by 15.89 percent during the month of December 2021 as compared to the same month of last year.

The exports during December 2021 were recorded at $1.623 billion against the exports of $1.400 billion during December 2020. On month-on-month basis, the textile exports from the country witnessed a decrease of 6.47 percent during December 2021 when compared to the exports of $1.735 billion in November 2021.

It is pertinent to mention here that the country’s total merchandise exports surged by 24.91 percent during the first five months of the current fiscal year compared to the corresponding period of last year. The exports during July-December 2021-22 were recorded at $15.127 billion against the exports of $12.110 billion during July-December 2020-21.

On the other hand, the imports into the country also surged by 66.23 percent by growing from $24.454 billion last year to $40.649 billion during the current fiscal year, the PBS data added.