Over $4.127 Bln Textile Products Exported In Q1

ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Oct, 2023) Pakistan exported textile products worth $4,127.790 million during the first quarter (Q1) of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported.

The exports of the product however witnessed a decline of 9.95 percent during July-September (2023-24) when compared to the exports of $4,584.020 million during July-September (2022-23).

The textile commodities that witnessed positive growth in trade included raw cotton, the exports of which grew by 12.08 percent, from $5.908 million last year to $6.621 million this year.

Likewise, the exports of cotton yarn increased by 33.50 percent, from $236.263 million last year to $315.404 million this year, cotton carded or combed by 112.76 percent, from $0.213 million to $0.454 million and towels, the exports of which grew by 2.89 percent, from $237.280 million to $244.134 million.

The textile commodities that witnessed negative growth include cotton cloth, the exports of which declined by 18.15 percent, from $580.524 million to $475.187 million, yarn other than cotton yarn by 14.50 percent, from $11.808 million to $10.096 million, and knitwear by 15.83 percent, from $1,320.895 million to $1,111.820 million.

Likewise, the exports of bed wear declined by 10.02 percent from $779.

704 million to $701.571 million, tents, canvas and Tarpulin by 8.24 percent, from $29.766 million to $27.312 million and ready made garments by 11.21 percent, from $911.515 million to $809.320 million decrease of 10.02 percent.

The exports of art, silk and synthetic textile also decreased by 23.08 percent, from $23.08 percent, from $108.320 million to $83.325 million, madeup articles by 5.41 percent, from $180.167 million to $170.422 million whereas the exports of all other textile materials also sent down by 5.25 percent, from $181.657 million to $172.124 million.

It is pertinent to mention here that the merchandize the trade deficit contracted by 42.25 per cent during the first quarter of the current fiscal year compared to the corresponding period of last year.

The Trade deficit from July-September (2023-24) was recorded at $5.289 billion as against the deficit of $9.159 billion in July–September (2022-23), showing negative growth of 42.25 per cent.

During the period under review, the exports decreased by 3.78 per cent to $6.899 billion compared to the exports of $7.170 billion during the corresponding period of last year, according to the latest PBS data.

On the other hand, the imports narrowed by 25.36 per cent and were recorded at $12.188 billion compared to $16.329 billion last year.