Textile exports reduced 1.98% during July-May 2016-17
Textile exports from the country observed decrease of 1.98 percent during the first eleven months of the current fiscal year compared to the corresponding period of last year.
According to data released by the Pakistan Bureau of Statistics (PBS) the textile exports during July-May (2016-17) were recorded at $11,234.885 million compared to the exports of $11,461.497 million recorded during July-May (2015-16).
Textile goods that put in in the negative growth included cotton yarn, the trade of which reduced by 3.64 percent by going down from the exports of $1,176.999 million last year to $1,134.191 million during the current year.
The exports of cotton cloth also decreased from $2,065.794 million to $1,945.670 million, showing negative growth of 5.81 percent while the exports of raw cotton decreased by 47.14 percent, from $75.996 million to $40.169 million.
The exports of yarn (other than cotton yarn) decreased by 27.32 percent by falling from $30.648 million to $22.274 million while the exports of knitwear decreased by 1.84 percent from $2,146.744 million to $2,107.612 million.
Exports of towels decreased from $739.986 million to $704.702 million, a decline of 4.77 million while the exports of arts, silk and synthetic textile decreased by 32.99 percent, from $267.035 million last year to $259.127 million during the ongoing fiscal year.
The made up articles (excluding towels and beadwear) witnessed nominal decrease of 0.45 percent by going down from $586.093 million to $583.480 million, according to PBS data.
The products that witnessed positive growth in the trade included cotton (carded or combed), exports of which increased by 71.94 percent from $0.139 million last year to $0.239 million during the ongoing year.
The exports of bed-wear increased by 3.22 percent by going up from trade of $1,862.703 million to $1,922.648 million, exports of tents, canvas and taruplin also increased by 4.1 percent by going up from $81.336 million to $124.325 million while the exports of readymade garments increased by 4.10 percent by growing from $1,992.183 million to $2,073.943 million.
Meanwhile, On year-on-year basis, the textile exports during May 2017 decreased by 12.24 percent as compared to the same months of last year. The textile exports during May 2017 were recorded at $938.589 million compared to the exports of 1,069.534 million during May 2016.
The data revealed that textile exports decreased by 8.47 percent in May 2017 when compared to the exports of $1,025.399 million during April 2017.