ISLAMABAD – In the first half of the current fiscal year (H1), exports of textile products increased by 7.79 percent compared to the same period of the previous year.
According to the latest data of the Pakistan Statistics Bureau, textile exports were recorded as 7442.425 million dollars with an increase of 7.79 percent in the period of July-December (2020-21) against the exports of 6904.689 million dollars in the period of July-December (2019-20). (PBS).
Among the textile products contributing to positive trade growth were knitwear products, whose exports increased from $ 1586.923 million last year to $ 1849.605 million this year and grew 16.55 percent. Likewise, bed wear exports increased by 16.38 percent from $ 1197,931 to $ 1394,180, while towel exports increased by 17.47 percent from $ 379,426 million to $ 445,709 million. Tents, canvas and linoleum exports increased by 57.77 percent from 39.599 million dollars to 62.477 million dollars, ready-to-wear exports increased by 5.54 percent from 1412.111 million dollars to 1490.370 million dollars, and art, silk and synthetic textile exports increased. Exports of make-up products (excluding towels and bedding) rose 17.46 percent from $ 322,855 million to $ 379,229 million, up 0.17 percent from $ 167,218 million to $ 167,502 million.
Among the commodities with negative growth in trade, the exports of raw cotton and cotton yarn decreased by 96.14 percent from $ 15,331 million to $ 0.592 million, while the exports of cotton thread fell 26.36 percent from $ 544,148 to $ 400,730. Cotton fabric exports also fell 7.73 percent from $ 1013.325 million to $ 935.009, and yarn (excluding cotton yarn) fell 7.28 percent from $ 14.521 million to $ 13.464 million. On the other hand, textile exports increased by 22.72 percent in December 2020 on an annual basis compared to the same month of the previous year. In December 2020, exports were recorded as 1401.004 million dollars compared to 1141.620 million dollars of exports.
On a monthly basis, exports from the country witnessed a 9.20 percent increase in December 2020 compared to $ 1282,958 million in November 2020. It would be appropriate to state here that the country’s commodity exports increased by 4.98. percent (H1) in the first half of the current fiscal year (2020-21) compared to the same period last year. According to the latest PBS data, exports from the country in the period of July-December (2020-21) were recorded as $ 12.098 billion against exports of $ 11.524 billion between July-December (2019-20). Imports to the country during the period in question also increased 5.72 percent from $ 23.195 billion last year to $ 24.521 billion in the first half of the current fiscal year.
According to the figures, the country’s trade deficit increased by 6.44 percent in the first half compared to the same period last year. The trade deficit in the first six months of the current fiscal year was recorded as $ 12.423 billion, against a deficit of $ 11.671 billion last year.