Pakistan textile exports hit highest level of history in FY 2022
ISLAMABAD - The exports of textile commodities increased by 25.43 percent during the first nine months of the current fiscal year (2021-22) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported on Saturday.
The textile exports were recorded at $14,242.623 million in July-March (2021-22) against the exports of $11,355.465 million in July-March (2020-21), showing growth of 25.43 percent, according latest PBS data.
The textile commodities that contributed in trade growth included cotton yarn, the exports of which increased by 25.97 percent from $721.216 million last year to $908.487 million during the current year.
Likewise, the exports of raw cotton increased by 1009.03 percent, from $0.593 million to $6.577 million, cotton cloth by 26.51 percent, from $1,419.181 million to $1,795.457 million, cotton (carded or combed) by 100 percent to $1.632 million from $0.064 million exports last year, yarn (other than cotton yarn) increased by 104.53 percent, from $23.560 million to $48.188 million whereas exports of knitwear increased by 34.12 percent, from $2,780.896 million to $3,729.683 million.
In addition, the exports of bed wear increased to $2,448.859 million from $2,052.259 million, showing growth of 19.33 percent, towels’ export increased by 18.42 percent, from $692.110 million to $819.589 million, ready-made garments by 26.24 percent, from $2,268.389 million to $2,863.570 million, art, silk and synthetic textile by 27.63 percent, from $269.201 million to $343.591 million, made-up articles (excluding bed-wear and towels) by 10.84 percent, from 565.680 million to $627.006 million whereas the exports of all other textile materials increased by 20.01 percent, from $473.156 million to $567.841 million.
The only textile commodity that witnessed negative growth in trade was tents, canvas and Tarpulin, the exports of which decreased by 7.87 percent, from $89.160 million to $82.144 million.
Meanwhile, on year-on-year basis, the textile exports increased by 19.90 percent during the month of March 2022 as compared to the same month of last year.
The exports during March 2022 were recorded at $1,625.253 million against the exports of $1,355.542 million during March 2021. On month-on-month basis, the exports of textile from the country however witnessed a decrease of 3.51 percent during March 2022 when compared to the exports of $1,684.313 million in February 2022.
It is pertinent to mention here that the country’s total merchandise exports increased by 24.98 percent during the first nine months of the current fiscal year.
The merchandize exports during July-March (2021-22) were recorded at $23.355 billion compared to the exports of $18.687billion during July-March (2020-21), the PBS reported.
On the other hand, the merchandize imports went up by 49.10 percent from $39.489 billion last year to $58.877 billion during the current fiscal year.