Textile group exports during the first 10 months (July-April) of the current fiscal year 2021-22 hit a record high of $15.981 billion against $12.688 billion during the corresponding period of the last financial year 2020-21, showing an increase of 25.96 percent.
According to the data released by the Pakistan Bureau of Statistics (PBS), the textile group exports increased by 7.01 percent on a month-on-month basis and remained $1.739 billion in April 2022 compared to $1.625 billion in March 2022.
Textile group exports witnessed 30.50 percent growth in April 2022 on a year-on-year basis, when compared to $1.332 billion in April 2021.
In textile group, cotton yarn exports registered a growth of 22.11 percent during July-April 2021-22 and remained at $1.006 billion compared to $823.952 million during the same period of last year, and decreased by 4.95 percent in April 2022 and remained at $97.655 million when compared to $102.736 million during the same month of last year.
The country’s overall exports during July-April (2021- 22) totalled $26.247 billion against $20.905 billion during the corresponding period of last year, showing an increase of 25.55 percent.
Pakistan’s exports during April 2022 were $2.897 billion as compared to $2.777 billion in March 2022, showing an increase of 4.32 percent and by 30.61 percent as compared to $2.218 billion in April 2021.
The main commodities of exports during April, 2022 were knitwear (Rs90,096 million), readymade garments (Rs64,669 million), bed wear (Rs51,398 million), cotton cloth (Rs38,763 million), rice others (Rs32,704 million), towels (Rs19,974 million), cotton yarn (Rs18,016 million), made-up articles (excl. towels & bedwear) (Rs15,277 million), rice basmati (Rs15,198 million) and surgical goods & medical instruments (Rs8,067 million).
Based on the provisional figures of imports and exports the balance of trade in April 2022 was $3.782 billion. The balance of trade figures cumulative from July-April 2021–22 remained $39.29 billion. However, due to $3.1 billion remittance, the current account deficit hovered around $682 million during April 2022.