Pakistan exported textile products worth $5,941.099 million to different countries during the first four months of the current fiscal. According to the data released by the Pakistan Bureau of Statistics (PBS), the export of textile items from the country showed a decline of 1.34% during the first four months of the current fiscal as compared to the same period of last year when it was recorded at $6,021.813 million. However, the export of cotton cloth grew by 1.27% in the first four months of the ongoing financial year and reached $750.115 million from $740.711 million in the same period of the last year.

The export of knitwear also increased by 6.92% from $1,601.778 million to $1,712.606 million. The data shows that the export of tents, canvas and tarpaulin increased by 21.24% and reached $30.810 million to $37.355 million. The import of readymade garments increased by 2.46% from $1,158.603 million to $1,187.059 million. The import of art, silk and synthetic textile grew by 2.06% and reached from $143.320 million to $146.276 million. The export of raw cotton witnessed a growth of 100% and reached $9.846 million during the first four months of the current financial year. However, the data shows that the export of cotton yarn declined by 18.14% and dipped from $394.765 million to $285.315 million.

The export of carded cotton declined by 86.14% and fell from $1.542 million to $0.214 million. The export of yarn other than cotton yarn decreased by 14.56% from $17.240 million to $14.730 million, bedwear by 8.64% from $1,091.124 million to $996.840 million, towels by 2.02% from $323.385 million to $316.860 million and made-up articles by 11.37% from $168.583 million to $238.043 million while the export of all other textile materials went down by 1.65% and dropped from $249.952 million to $245.840 million. Meanwhile, on a year-on-year basis, the export of textile goods declined by 15.23% in October 2022 to $1,357.038 million against $1,600.930 million recorded in October 2021.

On a month-on-month basis, the export of textile goods decreased by 11.13% in October 2022 as compared to $1,527.071 million in September 2022. The overall merchandise exports during the first four months of the current fiscal increased by 0.94% and reached $9,549 million as compared to $9,460 million during the corresponding period of last year. Based on the figures, the trade deficit was recorded at $11,469 million in the current year against the deficit of $15,624 million in the last year, showing a decline of 26.59%, according to the data available with WealthPK.

Credit : Independent News Pakistan-WealthPk