Good news for Pakistan on the exports front

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Good news for Pakistan on the exports front

ISLAMABAD - During the first four months of the current fiscal year, exports of ready-made garments grew 12% as compared to the corresponding period of last year.

In July-October 2019, about 19.54 million dozens of ready-made garments worth $906.663 million were exported compared to 15.119 million dozens worth $809.520 million exported last year.

According to the data of Pakistan Bureau of Statistics, Pakistan exported about 40.246 million dozens of knitwear worth $1.054 billion versus exports of 37.790 million dozens worth $962.862 million in the same period of last year, up by 9.49 percent.

During the period under review, 172,547 metric tons of bed wear worth $817.665 million were exported, showing a growth of 5.72% as compared to the exports of 144,574 metric tons valued at $773.447 million last year.

In the first four months of the current financial year, 58,030 metric tons of towels worth $251.647 million were exported as compared to 60,041 metric tons worth $249.651 million.

According to the data, textile group exports during first four months (July-October) of the current financial year witnessed an increase of 4.10% as compared to the exports in the corresponding period of last year, whereas textile sector exports witnessed about 7.44% growth in October 2019, compared to October 2018.

During the period from July-October, 2019, textile products worth over $4.586 billion were exported versus exports of $4.406 billion last year, showing an increase of 4.10%.

Textile products worth over $1.214 billion were exported in October 2019, as compared to exports of $1.130 billion in October 2018.

The exports of raw cotton during the period under review increased by 0.78%, cotton carded or combed grew 100% and yarn other than cotton yarn grew by 21.24% respectively.

However, in the last four months of the current financial year, exports of textile products observed a decline including cotton yarn which decreased by 2.14%, cotton cloth 4.83%, tents, canvas and tarpaulin by 1.58%.

However, exports of raw cotton dropped from $392.948 million in the first four months of the last financial year to $384.553 million in the current financial year.