Pakistan’s textiles exports reach historic high in December, increase 22.72%
Pakistan’s exports of textile commodities witnessed a surge of 7.79% during the first half (H1) of the current fiscal year as compared to last year’s corresponding period.
According to recent data released by the Pakistan Bureau of Statistics (PBS), the textile exports were recorded at $7,442.425 million in July-December (2020-21) against the exports of $6,904.689 million in July-December (2019-20), showing a growth of 7.79%.
The textile commodities that contributed to positive trade growth included knitwear, the exports of which surged from $1,586.923 million last year to $1,849.605 million during the current year, showing an increase of 16.55%.
Likewise, the exports of bedding increased by 16.38% by growing from $1,197.931 to $1,394.180, while the exports of towels surged by 17.47%, from $379.426 million to $445.709 million.
Similarly, the exports of tents, canvas and tarpaulin grew by 57.77%, from $39.599 million to $62.477 million, while the exports of ready-made garments increased by 5.54%, from $1,412.111 million to $1,490.370 million.
Moreover, the exports of art, silk and synthetic textile increased by 0.17%, from $167.218 million to $167.502 million, while the exports of made-up articles (excluding towels and bedding) rose 17.46%, from $322.855 million to $379.229 million.
Meanwhile, the commodities that witnessed negative growth included raw cotton, the exports of which declined by 96.14%, from $15.331 million to $0.592 million.
Similarly, the exports of cotton yarn decreased by 26.36%, from $544.148 to $400.730.
The exports of cotton cloth also shrunk by 7.73%, from $1,013.325 million to $935.009 and yarn (excluding cotton yarn) by 7.28%, from $14.521 million to $13.464 million.
Meanwhile, on a year-on-year (YoY) basis, the textile exports surged by 22.72% during the month of December 2020 compared to the same month of last year.
The exports throughout December 2020 were recorded at $1,401.004 million against the exports of $1,141.620 million.
On a month-on-month (MoM) basis, the country’s exports witnessed an increase of 9.20% during December 2020 compared to the exports of $1,282.958 million in November 2020.
It is pertinent to mention here that Pakistan’s merchandise exports increased by 4.98% during the first half of the current fiscal year (2020-21) compared to the corresponding period of last year.
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