Textile exports surge by 28.26% to $17.6 bln in 11 months

The exports of textile commodities surged by 28.26 percent during the first eleven months of the current fiscal year (2021-22) as compared to the corresponding period of last year.

The textile exports were recorded at $17,623.635 million in July-May (2021-22) against the exports of $13,740.113 million July-May (2020-21), showing growth of 28.26 percent, according to the latest data released by Pakistan Bureau of Statistics (PBS) on Friday.

The textile commodities that contributed in trade growth included cotton cloth the exports of which increased by 30.24 percent to $2,236.855 million during the current year as compared to the exports of $1,716.216 million last year.

The other commodities that witnessed growth in trade included cotton year, the exports of which grew by 24.18 percent, from $896.039 million to $1,112.713 million and raw cotton by 1009 percent from 0.593 million to $6.577 million.

Likewise, the exports of cotton (carded or combed) increased by 1450 percent, from $0.064 million to $1.632 million, yarn (other than cotton yarn) by 109.68 percent, from $28.912 million to $60.624 million whereas the exports of knitwear increased by 36.44 percent, from $3,405.133 million to $4,646.029 million.

Exports of bed wear increased by 21.68 percent, from $2,472,782 million to $3,008,838 million, towels by 21.66 percent, from $838.505 million to $1,020.111 million, ready made garments by 30.63 percent, from $2,706.902 million to $3,535.959 million, art, silk & synthetic textile by 29.34 percent, from $326,152 million to $421,860 million, made up articles (excluding towels and bead wear) by 15.19 percent, from $421.860 million to $780.180 million whereas the exports of all other export materials increased by 21.58 percent, from $780.180 million to $692797 million.

The only commodity that witnessed negative growth in trade was tents, canvas and tarpaulin, the exports of which declined by 2.16 percent, from $101.653 million to $99.462 million.

Meanwhile, on year-on-year basis, the textile exports from the country increased by 56.08 percent by growing from $1,051.933 million in May 2021 to $1,641.901 million in May 2022.

However, on month-on-month basis the textile exports from the country declined by 5.59 percent during the month of May 2022 as compared to the exports of $1,739.122 million recorded in April 2022, the PBS data revealed.

It is pertinent to mention here that the overall merchandize exports from the country witnessed an increase of 27.78 percent during the first eleven months of the current fiscal year (2021-22) as compared to the corresponding period of last year.

According to PBS data, the exports from the country were recorded at $28.848 billion during July-May (2021-22) against the exports of $22.576 billion recorded during July-May (2020-21), showing growth of 27.78 percent.

The imports during the months under review also went up by 44.28 percent by growing from $50.028 billion last year to $72.182 billion in July-May (2021-22).

Based on the data, the trade deficit during the period under review was recorded at $43.334 billion, showing an increase of 57.85 percent over the deficit of $27.452 billion recorded during last year, the PBS data revealed.