Pakistan Exports Textile Products Worth $5.565 Bln In 4 Months

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Nov, 2023) Pakistan exported textile products worth $5,565.079 million during the first four months of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported.

The exports of the product however witnessed a decline of 6.33 percent during July-October (2023-24) when compared to the exports of $5,940.992 million during July-October (2022-23).

The textile commodities that witnessed positive growth in trade included raw cotton, the exports of which grew by 137.13 percent, from $9.845 million last year to $23.346 million this year.

Likewise, the exports of cotton yarn increased by 42.85 percent, from $285.315 million last year to $407.564 million this year, cotton carded or combed by 142.76 percent, from $0.213 million to $0.518 million, tents, canvas and Tarpulin by 1.09 percent, from $37.355 million to $37.763 million and towels, the exports of which grew by 6.67 percent, from $316.860 million to $337.987 million.

The textile commodities that witnessed negative growth include cotton cloth, the exports of which declined by 13.94 percent, from $750.115 million to $645.535 million, yarn other than cotton yarn by 6.50 percent, from $14.730 million to $13.773 million, and knitwear by 13.41 percent, from $1,712.595 million to $1,482.

864 million.

Likewise, the exports of bed wear declined by 5.18 percent from $996.841 million to $945.182 million, ready-made garments by 8.71 percent, from $1,187.060 million to $1,083.683 million.

The exports of art, silk and synthetic textile also decreased by 19.85 percent, from $146.275 percent to $117.241 million, madeup articles by 1.45 percent, from $238.010 million to $234.555 million whereas the exports of all other textile materials also went down by 4.36 percent, from $245.777 million to $235.068 million.

It is pertinent to mention here that the country’s merchandize trade deficit contracted by 34.70 per cent during the first four months of the current fiscal year compared to the corresponding period of last year.

The Trade deficit from July-October (2023-24) was recorded at $7.416 billion as against the deficit of $11.356 billion in July–October (2022-23), showing negative growth of 34.70 per cent.

During the period under review, the exports increased by 0.66 per cent to $9.617 billion compared to the exports of $9.554 billion during the corresponding period of last year, according to the latest PBS data.

On the other hand, the imports narrowed by 18.54 per cent and were recorded at $17.033 billion compared to $20.910 billion last year.