8 Pakistani sectors export achieve record growth in FY22

8 Pakistani sectors export, including textiles sector, achieved record double-digit growth in the first 4 months of fiscal year 2021-22 compared to the same period a year ago, data compiled by the Ministry of Commerce showed.

As per the details, in absolute terms the 8 Pakistani sectors export reached $5.632 billion between July-October this year against $4.377bn over corresponding months of last year, indicating a growth of 28.67%.

32% increase was recorded in the exports of men’s garments products reaching $1.584bn in First 4 months of FY22 against $1.201bn over the last year.

Similarly, In home textiles sector an 22% increase in exports reached $1.575bn in first 4 months of FY22 against $1.294bn in the corresponding months of last fiscal year 21.

An increase of 20% in cotton fabric sector to $745m was noted in the first 4 months of FY22 against $622m over the corresponding period of last fiscal year 21.

Also, In the rice sector exports 19% increase was witnessed, reaching $599m in first 4 months of FY22 against $502m over the corresponding period of last fiscal year 21.

While a 73% increase in export of cotton yarn to $398m against $230m over the last year. And an increase of 60% in export of jerseys and cardigans to $330m in first 4 months of FY21 against $206m in the corresponding months over the last fiscal year 21.

Meanwhile, 20% growth was recorded in the exports of women’s garments, reaching $270m against $225m and a 35% increase in exports of synthetic fabric to $131m against $97m over the corresponding months of last fiscal year 21.

The data also revealed that the US, UK and China remained the top destinations of Pakistan’s exports during the first 4 months of Fiscal year 2021-2022.