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Textile exports surge by 25.52%, reach $19.3 bln in FY2022

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

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

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

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

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

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

On month-on-month basis the textile exports from the country declined by 3.93 percent during the month of June 2022 as compared to the exports of $1,641.901 million recorded in May 2022, the PBS data revealed.

It is pertinent to mention here that the exports from the country witnessed an increase of 25.51 percent 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 $31.760 billion during July-June (2021-22) against the exports of $25.304 billion recorded during July-June (2020-21), showing growth of 25.51 percent.

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

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

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