Pakistan Bureau of Statistics (PBS) revealed that the country’s textile exports hit $5,941.099 million during the first four months of the current fiscal year (2022-23).
During the period under examination, textile exports decreased 1.34 percent compared to exports of $6,021.813 during the same time last year (July-October 2021-22).
During July-October (2022-23), exports of cotton fabric increased by 1.27 percent, from $740.711 million to $750.115 million, while exports of knit wear grew by 6.92 percent, from $ 1,601.778 million to $ 1,712.606 million.
Tents, canvas, and tarpaulin exports increased by 21.24 percent, from $30.81 million to $37.355 million, while ready-made garment exports increased by 2.46 percent, from $1,158.603 million to $1,187.059 million, and art, silk, and synthetic textile exports increased by 2.06 percent, from $ 143.320 million to $ 146.276 million.
According to PBS data, raw cotton exports increased by one hundred percent to $9.846 million throughout the time.
Cotton yarn exports decreased by 18.14 percent, from $ 394.765 million to $285.31 million, among the textile products that experienced a decrease in trade.
Similarly, the exports of cotton (carded or combed) decreased by 86.14 percent, from $1.542 million to $0.214 million, yarn (other than cotton yarn) by 14.56 percent, from $17.240 million to $14.730 million, bed-wear by 8.64 percent, from $1,091.124 million to $996.840 million, towels by 2.02 percent, from $323.385 million to $316.860 million, and manufactured articles (excluding towels, bedwear) by 11.37
The exports of textile items decreased by 15.23 percent year-over-year (YoY) in October 2022, falling to $1,357.038 million from $1,600.930 million in October 2021.
PBS data shows that on a month-to-month (MoM) basis, textile goods exports declined by 11.13 percent in October 2022 compared to September 2022 exports of $ 1,527.071 million.
It is important to note that over the first four months of the current fiscal year, total merchandise exports climbed by 0.94 percent to $9,549 million from $9,460 million during the same period in the previous fiscal year.
The country’s imports declined by 16.21 percent over the time under study, falling from $25,084 million in the prior year to $21,018 million in the present year.
According to the report, this year’s trade deficit was $11,469 million, a 26.59 percent decrease from previous year’s deficit of $15,624 million.