Business Tech

Textile exports rise by 26pc to $9.38bn in six months

- Textile exports rise by 26pc to $9.38bn in six months

ISLAMABAD: Pakistan’s textile exports increased by 26.05 percent to $9.38 billion during the first half (July-December) of the current fiscal year 2021-22 on a year-on-year basis.

According to the data released by Pakistan Bureau of Statistics (PBS), the textile exports were recorded at $7.44 billion in July-December period of the last financial year 2020-21.

According to item-wise details, the exports of cotton yarn increased by 52.33 percent to $610.427 million from $400.733 million during the period under review. Similarly, the exports of raw cotton almost doubled to $1.763 million from $0.593 million.

The export of cotton cloth increased by 21.35 percent to $1134.645 million, cotton (carded or combed) by 100 percent to $1.605 million from zero exports last year, yarn (other than cotton yarn) increased by 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 $1.85 billion during the first half (July-December) of the current fiscal year 2021-22 on a year-on-year basis.

Moreover, the exports of bed wear increased to $1.66 billion from $1.4 billion, showing growth of 19 percent, towels’ export increased by 17.54 percent to $523.686 million from $445.697 million, readymade garments by 22.93 percent to $1.83 billion from $1.5 billion, art, silk and synthetic textile by 34.24 percent to $224.847 million from $167.500 million, made up articles (excluding bedwear and towels) by 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.

However, the only textile commodity that witnessed negative growth in trade was tents, canvas and Tarpaulin, the exports of which decreased by 9.18 percent, from $62.477 million to $56.742 million.

The total 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.

Adviser to the PM on Commerce and Investment Abdul Razak Dawood on Sunday said the government has fully implemented the Trade Diversification Policy and is currently seeing an increase in Pakistan’s product and geographical exports in the global market.

“So far, the country’s exports of non-traditional products, including information technology, have grown by 60 percent in the last four months.” The main objective of the government’s Trade Diversification Policy is to introduce new trade products of a country’s exports and to create new non-traditional markets at global and regional level to increase domestic exports, Dawood said. 

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