ISLAMABAD: In the first seven months of the present fiscal year, an increment of 8.23 percent has been recorded in the export of textile commodities has been recorded when compared with the last year’s timeline. Moreover, an increment of 10.79 percent was noted in January 2021 when collated with 2020’s January. The exports during January 2021 were recorded at $1323.324 million against the exports of $1194.463 million.
According to latest data of Pakistan Bureau of Statistics (PBS), 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.
There were both positive and negative type of commodities that contributed in this growth. For the positive textile commodities, knitwear tops the chart as it showed a growth of 18.74 percent. Its export increased from $1831.758 million last year to $2175.021 million during the current year. Yarn exports showed an increment of 4.63 percent going from $16.286 million to $17.040 million. Likewise, the exports of towels increased by 19.91 percent and exports of bed wear increased by 16.38 percent.
Meanwhile, raw cotton, cotton yarn and cotton cloth are the commodities whose percentage didn’t increase but instead declined. Raw cotton went down by a whopping 96.27% from $15.885 million to $0.593 million; cotton yarn lessened by 23.97 percent, from $639.770 to $486.426 whereas the exports of cotton cloth reduced down to 8.63 percent, from $1188.990 million to $1086.333.
According to the numbers, the country’s trade deficit increased by 8.27 percent during the first seven months when contrasted with 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.
