Textile Exports Earn $9.738 Billion For Pakistan In 7 Months

Pakistan earned $ 9,738,551 million from exports of textile products during the first seven months of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported here on Friday

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Feb, 2024) Pakistan earned $ 9,738,551 million from exports of textile products during the first seven months of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported here on Friday.

The exports of the product, however, witnessed a decline of 2.99 percent during July-January (2023-24) when compared to the exports of $ 10,038,199 million during July-January (2022-23).

The textile commodities that witnessed positive trade growth included raw cotton, the exports of which grew by 353.78 percent, from $12.286 million last year to $55.752 million this year.

Likewise, the exports of cotton yarn increased by 49.04 percent, from $ 449.418 million last year to $ 669.824 million this year and towels by 2.29 percent, from $ 582.833 million to $ 596.203 million.

The textile commodities that witnessed negative growth include cotton cloth, exports of which declined by 11.34 percent, from $1,225.348 million to $1,086,396 million; cotton carded or combed by 37.19 percent, from $0.947 million to $0.595 million; yarn other than cotton yarn by 17.19 percent, from $26.154 million to $21.658 million, and knitwear by 8.36 percent, from $ 2,801.777 million to $ 2,567.577 million.

Likewise, the exports of bedware declined by 0.61 percent from $ 1,639.104 million to $ 1,629.184 million, tents, canvas and tarpaulin by 5.

21 percent, from $74.122 million to $70.258 million, ready-made garments by 5.79 percent, from

$ 2,125.680 million to $ 2,002.663 million.

The exports of art, silk and synthetic textiles also decreased by 12.33 percent declining from $239.209 million to $209.723 million, madeup articles by 4.66 percent, from $435.052 million to $414.787 million whereas the exports of all other textile materials also went down by 2.89 percent, from $426.270 million to $413.931 million.

Meanwhile, on a year–on–year basis, the textile exports increased by 10.10 percent going up from $ 1,321.761 million in January 2023 to $ 1,455.300 million in January 2024.

On a month-on-month basis, the exports grew by 3.98 percent when compared to exports of $ 1,399.655 million in December 2023.

The Trade deficit from July-December (2023-24) was recorded at $11.148 billion as against the deficit of $16.965 billion in July–December (2022-23), showing negative growth of 34.29 percent.

During the period under review, the exports increased by 5.17 percent to $14.981 billion compared to the exports of $14.244 billion during the corresponding period of last year, according to the latest PBS data.

On the other hand, the imports narrowed by 16.28 percent and were recorded at $26.129 billion compared to $31.209 billion last year.