Pakistan exports registered massive growth in FY 2022 during PTI government tenure
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ISLAMABAD: The export of Pakistani textile commodities surged by 25.5 per cent during the fiscal year 2021-22 (FY22) as compared to the preceding fiscal year.
These exports were recorded at $19,329.9 million in July-June (2021-22) against the exports of $15,399m July-June (2020-21), showing growth of 25.5pc, according to the latest data released by Pakistan Bureau of Statistics (PBS) on Wednesday.
Commodities that contributed in trade growth included cotton cloth, the exports of which increased by 26.9pc to $ 2,437.9m during FY22 as compared to the exports of $1,921m in FY21.
Other commodities that witnessed growth in trade included cotton, the exports of which grew by 18.67pc from $1,016.9m to $1,206.8m and raw cotton which grew by 714.9pc from 0.807m to $6.6.
Likewise, the exports of carded cotton increased by 2,450pc from $0.06m to $1.632m, and yarn other than cotton yarn by 98.4pc, from $33.4m to $66.2m whereas the exports of knitwear increased by 34.23pc, from $ 3,815m to $5,120.973m.
Similarly, exports of bed wear increased by 18.8pc from $2,771.786m to $3,292.9m, towels by 18.5pc from $937.5m to $1,111.3m, tents, canvas and tarpaulin by 0.02pc from $110.389m to $110.4m, ready made garments by 28.75pc from $3,032.8m to $ 3,904.7m, art, silk and synthetic textile by 24.2pc from $370.4m to $460.1m, made up articles excluding towels and bead wear by 12.2pc from $756.4m to $849.1m whereas the exports of all other export materials increased by 20.4pc from $632.5m to $761.4m.
Meanwhile, on a year-on-year (YoY) basis, textile exports from the country increased by 2.86pc by growing from $761.5 in June 2021 to $1,706.3m in June 2022.
On a month-on-month (MoM) basis, textile exports from the country declined by 3.93pc during June 2022 as compared to the exports of $1,641.9m recorded in May, the PBS data revealed.
It is pertinent to mention here that exports from the country witnessed an increase of 25.5pc during FY22 as compared to the corresponding period of last year.
PBS data shows that exports were recorded at $31.8bn during FY22 against the exports of $25.304 billion recorded during FY21, showing growth of 25.5pc.
However, on the other hand, imports during the year under review also went up by 41.93pc by growing from $56.4bn in FY21 to $80 billion in FY22.
Based on the data, the trade deficit during the period under review was recorded at $48.3bn, showing an increase of 55.29pc over the deficit of $31.076 billion recorded during last year.
