Daily Times

The exports of textile commodities surged by 25.53pc during the fiscal year 2021-22 as compared to the corresponding period of last year.

The textile exports were recorded at $19,329.985m in July-June (2021-22) against the exports of $15,399.083m July-June (2020-21), showing growth of 25.53pc, according to the latest data released by Pakistan Bureau of Statistics (PBS) on Friday.

The textile commodities that contributed in trade growth included cotton cloth the exports of which increased by 26.91pc to $ 2,437.875m during the FY2022 as compared to the exports of $ 1,921m last year.

The other commodities that witnessed growth in trade included cotton year, the exports of which grew by 18.67pc, from $ 1,016.970m to $ 1,206.838m and raw cotton by 714.94pc from 0.807m to $6.577m.

Likewise, the exports of cotton (carded or combed) increased by 2450pc, from $0.064m to $1.632m, yarn (other than cotton yarn) by 98.35pc, from $33.369m to $66.188m whereas the exports of knitwear increased by 34.23pc, from $ 3,815m to $ 5,120.973m.

Exports of bed wear increased by 18.80pc, from $ 2,771.786m to $ 3,292.880m, towels by 18.54pc, from $ 937.533m to $ 1,111.334m, tents, canvas and Tarpaulin by 0.02pc, from $110.389m to $110.413m, readymade garments by 28.75pc, from $ 3,032.812m to $ 3,904.658m, art, silk & synthetic textile by 24.20pc, from $ 370.417m to $ 460.061m, made up articles (excluding towels and bead wear) by 12.25pc, from $ 756.444m to $849.120m whereas the exports of all other export materials increased by 20.39pc, from $ 632.492m to $ 761.438m.

Meanwhile, on year-on-year basis, the textile exports from the country increased by 2.86pc by growing from $ 761.438m in June 2021 to $ 1,706.350m in June 2022.

On month-on-month basis the textile exports from the country declined by 3.93pc during the month of June 2022 as compared to the exports of $1,641.901m recorded in May 2022, the PBS data revealed. It is pertinent to mention here that the exports from the country witnessed an increase of 25.51pc during the fiscal year 2021-22 as compared to the corresponding period of last year.

According to PBS data, the exports from the country were recorded at $31.760b during July-June (2021-22) against the exports of $25.304b recorded during July-June (2020-21), showing growth of 25.51pc.

The imports during the year under review also went up by 41.93pc by growing from $56.380b last year to $80.019b in July-June (2021-22).

Based on the data, the trade deficit during the period under review was recorded at $48.259b, showing an increase of 55.29pc over the deficit of $31.076b recorded during last year, according to the PBS data.