ISLAMABAD:Textile group exports from the country during the first fourmonths (July-October) of the current financial year increased by 4.1% ascompared to the exports of the corresponding period of last year.
Meanwhile, textile sector exports witnessed about 7.44% growth in the monthof October, as against the exports of the same month of last year,according to the latest data of advance releases on foreign tradestatistics, released by the Pakistan Bureau of Statistics on Tuesday.
During the period from July-October, 2019-20, textile products worth over$4.586 billion were exported as against the exports of $4.406 billion ofthe same period last year, showing an increase of 4.1 percent.
On month on month basis, the textile products of over $1.214 billion wereexported in the month of October, as compared to the exports of $1.130billion of same month last year.
During the period under review, exports of ready made garments grew by 12percent, knitwear 9.49 percent, bed wear 5.72 percent, towels 0.80 percent,art, silk and synthetic textile increased by 9.46 percent respectively, itadded.
Meanwhile the exports of raw cotton from the country during the periodunder review increased by 0.78 per cent, cotton carded or combed 100 percent and yarn other than cotton yarn grew by 21.24 per cent respectively,the data revealed.
However, in the last four months of current financial year, the exports oftextile products which observed negative growth in their respective exportsincluded cotton yarn decreased by 2.14 percent, cotton cloth 4.83percent,tents, canvas and tarpulin by 1.58 percent, it added.
During the period from July-October, 2019 country exported about 40,246thousand dozen of knit wear valuing $1.054 billion as against the exportsof 37,790 thousand dozen worth of $962.862 million of same period of lastyear, which was up by 9.49 percent, it said
During the period under review, 172,547 metric tons of bed wear worth$817.665 million were also exported as compared the exports of 144,574metric tons valuing $773.447 million of same period of last year.
The exports of above mentioned product witnessed 5.72 percent growth in thefirst four months of current financial year.
Meanwhile, 58,030 metric tons of towels worth $251.647 million alsoexported as compared the exports of 60,041 metric tons valuing $249.651million of same period of last year.
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From July-October, country fetched $906.663 million by exporting about19,954 thousand dozen of ready made garments, which were recorded at 15,119thousand dozen worth $809.520 million of corresponding period of last year.
However, exports of raw cotton from the country came down from $392.948million in first four months of last financial year to $384.553 million inthe same period of current financial year.
It may be recalled here that country’s merchandise trade deficit plunged by33.52 percent during the first four months of the current fiscal year(2019-20) as compared to the deficit of the same month of last year.
According to the data the trade deficit during July-October (2019-20) wasrecorded at $7.776 billion against the deficit of $11.696 billion duringJuly-October (2018-19).
The exports during the period increased from $7.270 billion during lastyear to $7.547 billion during the current fiscal year, showing growth of3.81 percent.
On the other hand, the imports into the country witnessed decline of 19.21percent by falling from US $ 18.966 billion last year to $15.323 billionduring the current fiscal year, the data revealed.
Meanwhile, on year-on-year basis, the exports from the country increased by6.75 percent by growing from $1.896 billion during October 2018 to $2.024billion in October 2019.
On the other hand, imports declined by 15.14 percent by going down from$4.801 billion in October 2018 to $4.074billion in October 2019.
On month-on-month basis, the exports from the country increased by 14.41percent in October 2019 when compared to the imports of $1.769 billion inSeptember 2019. On the other hand, the imports into the country witnessedincrease of 7.64 percent.
