Pakistan’s cotton exports fell 9.93% in the past eleven months

Raw cotton exports from the country during the first 11 months of FY20 registered a decrease of 9.93%.

2

Raw cotton exports from the country during the first 11 months of the FY20 registered a decrease of 9.93% compared to natural cotton exports of the corresponding period last year.

During July 2019 to May 2020, about 12,776 metric tonnes of raw cotton worth $17.005 million were exported, compared to the export of 11,790 metric tonnes of natural cotton worth $18.879 million in the same period of last year.

During the period under review, the export of cotton yarn registered a negative growth of 13.12%. It was recorded at 376,286 metric tonnes valuing $910.582 million in contrast to the exports of 403,580 metric tonnes of cotton yarn worth $1.048 billion in the same period of last year.

In comparison, during the 11 months of the FY20, the exports of synthetic, art, and silk textile grew by 6.45% to $290.525 million compared to $272.910 million in the same period of last year.

Generally, exports of the textile sector during the eleven months of the FY20 went down by 6.06% and were recorded at $11.567 billion compared to $12.313 billion during the same period of last year.

The negative growth in the textile sector exports was mostly due to the global spread of the coronavirus pandemic, which has negatively affected foreign economies as well as the local economy.

Nevertheless, exports of other textile material witnessed a 6% growth and stood at $412.333 million during the first eleven months of the  FY20, in contrast to $359.627 million, during the same period of last year.

What are your views on this? Share with us in the comments below.

  • Reduction in exports of Raw cotton is not such a bad thing provided our exports at higher end of value chain increase. Pakistan’s sugar industry (which makes sugar more expensive than rest of the world) have made sugarcane #1 cash crop which has impacted cotton cultivation. Cotton cultivation in country needs to increase.


  • Featured Content⭐


    Most viewed in last 24 hours


    24 گھنٹوں کے دوران 🔥


    >