ISLAMABAD: *Economic achievement worth $5 billion by PTI government in FY2019-20.*
PTI government reduce the country’s trade deficit from $14.47 billion to$9.496 billion during the July-November 2019 period. Pakistan’s textile andclothing exports grew by 4.1pc to $5.76 billion (on a year-on-year basis)during the first five months of the financial year 2019-20, according todata released by the Pakistan Bureau of Statistics on Tuesday.
The modest increase in export proceeds and the decline in import of oil andfood products has helped the government reduce the country’s trade deficitfrom $14.47 billion to $9.496 billion during the July-November 2019 period.
As per the details, the export of textile and clothing rose by 4.1pc to$5.76 billion in 5MFY20, as compared to $5.5 billion in the correspondingperiod of last year.
On a year-on-year basis, the sector’s export proceeds were recorded at$1.177 billion in November, up 7pc as compared to the same month of lastyear.
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Product-wise details reveal that the export of yarn (other than cotton)jumped by 2.81pc, art, silk & synthetic textile by 10.7pc and raw cotton by3.67pc in 5MFY20.
In the value-added sector, the export of knitwear increased by 8.69pc invalue and 6.05pc in quantity, while that of bedwear by 14.37pc. Foreignsales of readymade garments rose by 13.19pc in value and 35.95pc inquantity while proceeds from towel only inched by a modest 1pc.
Moreover, the export of cotton yarn increased by 2.87pc, raw cotton by3.67pc, yarn other than cotton by 2.81pc, art and silk by 10.7pc and cottoncarded by 100pc during the period under review. The export of cotton clothdeclined by 3.74pc.
