Raw Cotton Export Increases 100% In First Two Months Of FY 2022

ISLAMABAD, (UrduPoint / Pakistan Point News - 30th Sep, 2022 ) :The raw cotton exports from the country during first two months of current financial year witnessed 100 percent growth as compared to the export of the corresponding period of last year.

During the period from July-August, 2022, about 2,378 metric tons of raw cotton valuing $5.653 million was exported as opposed to exports of same period of last year.

In the first two months of current financial year, exports of cotton cloth registered 2.65 percent increase as 58,935 metric tons of cotton cloth valuing $377.374 million in contrast to 87,674 metric tons worth of $367.624 million of the same period last year.

However, the exports of cotton yarn from the country during two months of current financial year decreased by 17.03 percent as it came down from $193.389 million to $160.453 million, according to the data of Pakistan Bureau of Statistics.

Meanwhile, the exports of other textile value-added products including ready-made garments grew by 8.

49 percent as 11,214 thousand dozens of ready-made garments valuing $634.596 million were exported as compared to exports of 6,986 thousand dozens worth $548.941 million of same period last year.

During the period under review, the exports of knitwear recorded about 16.95 percent increase as 34,778 thousand dozens of knitwear products valuing $884.759 million were exported as opposed to exports of 20,898 thousand dozens costing $756.522 million of same period last year.

It is worth mentioning here that cotton crop was grown over 5.295 million acres during current sowing season and out of the total standing crop over 1.722 million acres were damaged due to recent flash floods and rains across the country.

Out of the total cultivated area, about 33 percent crop was damaged due to recent flash floods and total output loss was estimated at 1,487,594 tons.