ISLAMABAD: Textile and clothing exports increased by 25.96 percent year on year to $15.98 billion in the first ten months of the current fiscal year, owing to a severe devaluation of the rupee and a steady growth in global demand.
The Pakistan Bureau of Statistics (PBS) announced data on Saturday showing that textile and clothing exports increased by 30.50 percent year on year in April.
From July-April 2021-to 22, ready-made garment exports increased by 27.95 percent in value and 41.09 percent in quantity, while knitwear exports increased by 35.14 percent in value but decreased by 2.64 percent in quantity. Exports of bedwear increased by 19.01 percent in value and 13.43 percent in quantity.
Towel exports increased by 19.46 percent in value and 5.16 percent in quantity, while cotton cloth exports increased by 26.81 percent in value and 7.14 percent in quantity.
Cotton yarn exports climbed by 22.11 percent, while yarn manufactured from materials other than cotton increased by 100 percent. During the period under review, exports of made-up products (excluding towels) increased by 13.08 percent, while those of tents, canvas, and tarpaulin decreased by 4.62 percent. During the months under consideration, art, silk, and synthetic textile exports climbed by 27.73 percent.
Textile machinery imports increased 56.38 percent year over year to $678.452 million in July-April, indicating that the textile sector is expanding or modernizing.
To make up for the shortfall in the domestic market, the industry imported raw cotton, the value of which increased by 19.15 percent from July to April, while synthetic fiber imports increased by 25.92 percent, and synthetic silk yarn imports increased by 27.15 percent.
Imports of used clothing increased by 59.61 percent year over year in the first ten months of the current fiscal year.
The country’s overall exports increased by around 25.56 percent year on year to $26.24 billion from $20.90 billion at the same time last year.
