The country’s oil import bill witnessed reduction of 20.90 percent during the first seven months of the current fiscal year as compared to the corresponding period of last year. The oil imports during July-January (2020-21) were recorded at $5640.751 million against the imports of $7131.451 million during July-January (2019-20), showing decline of 20.90 percent, according to latest data by Pakistan Bureau of Statistics (PBS). The commodities that contributed in decline of oil import bill included, petroleum products, the imports of which decreased by 15.33 percent, from $3011.154 million last year to $2549.674 million during the current fiscal year. Likewise, the imports of petroleum cured decreased from $2084.224 million to $1542.401 million, a decline of 26 percent while the imports of natural gas (liquefied) went down by 31.07 percent, from $1850.082 million to $1275.240 million. On the other hand, the imports of petroleum gas (liquefied) increased from $185.801 million to $273.356 million, showing growth of 47.12 percent while the imports of all other oil products decreased by 57.89 percent, from $0.190 million to 0.080 million. Meanwhile, on year-on-year basis, the oil import bill shrunk by 12.13 percent to $869.290 million in January 2021 when compared to the imports of $989.225 million in January 2020, the data revealed. However, the imports during January 2021 increased by 5.39 percent when compared to the imports of $824.862 million in December 2020. It is pertinent to mention here that the country’s merchandize exports increased by 5.53 percent during the first seven months of the current fiscal year (2020-21) as compared to the corresponding period of last year. The exports of the country during July-January (2020-21) were recorded at $14.242 billion against the exports of $13.496 billion during July-January (2019-20), according to the latest PBS data. The imports during the period under review also increased by 6.92 percent by growing from $27.316 billion last year to $29.205 billion during the first seven months of current fiscal year. Based on the figures, the country’s trade deficit increased by 8.27 percent during the first seven months as compared to the corresponding period of last year. The trade deficit during the first seven months of the current fiscal year was recorded at $14.963 billion against the deficit of $13.820 billion last year. Textile exports: The exports of textile commodities witnessed an increase of 8.23 percent during the first seven months of the current fiscal year as compared to the corresponding period of last year. The textile exports were recorded at $8765.739 million in July-January (2020-21) against the exports of $8099.095 million in July-January (2019-20), showing growth of 8.23 percent, according to latest data of Pakistan Bureau of Statistics (PBS). The textile commodities that contributed in positive trade growth included knitwear, exports of which increased from $1831.758 million last year to $2175.021 million during the current year, showing growth of 18.74 percent. Likewise, the exports of yarn (other than cotton yarn) increased by 4.63 percent, from $16.286 million to $17.040 million whereas, exports of bed wear increased by 16.38 percent from $1392.020 to $1613.509 while the exports of towels increased by 19.91 percent, from $444.685 million to $533.207 million. The exports of tents, canvas and tarplin grew by 48.95 percent, from $49.611 million to $73.897 million; ready-made garments by 5.48 percent, from $1680.897 million to $1773.054 million; art, silk and synthetic textile by 0.45 percent, from $199.790 million to $200.687 million while exports of made up article (excluding towels and bed wear) increased by 18.01 percent, from $378.680 million to $446.878 million. Meanwhile, the commodities that witnessed negative growth in traded included raw cotton, exports of which declined by 96.27 percent, from $15.885 million to $0.593 million; cotton yarn decreased by 23.97 percent, from $639.770 to $486.426 whereas the exports of cotton cloth also decreased by 8.63 percent, from $1188.990 million to $1086.333. On year-on-year basis, the textile exports increased by 10.79 percent during the month of January 2021 as compared to the same month of last year. The exports during January 2021 were recorded at $1323.324 million against the exports of $1194.463 million. On month-on-month basis, the exports from the country witnessed decrease of 5.54 percent during January 2020 when compared to the exports of $1400.269 million in December 2020.