Pakistan exported highest ever$19.35 billion worth of textile products

The export of Pakistani textile commodities showed an increase of 25.5 percent in the fiscal year 2021—22 (FY22) against the preceding fiscal year.Ac—cording to the recent data released by the Pakistan Bureau of Statistics (PBS),these exports were re—corded at $19.35 billion during July—June (2021—22) as compared to the exports of $15.40 billion in July—June(2020—21),showing an increase of 25.5 percent.

Commodities that played a major part in trade growth included cotton cloth,the exports of which surged by 26.9 percent to $ 2,437.9 million during FY22 against the exports of $1,921 million in FY21.Cotton also witnessed growth in trade which rose by 18.67percent from $1,016.9 million to $1,206.8 million and raw cotton which increased by 714.9 percent from a 0.807 million to $6.6 million.Similarly,the exports of carded cotton grew by 2,450 percent from $0.06 mil—lion to $1.632 million,and yarn except for cotton yarn by 98.4 percent,from $33.4 million to $66.2 million while the exports of knitwear rose by 34.23 percent,from $ 3,815 million to $5,120.973 million.

The exports of bed wear showed an increase of 18.8 percent from $2,771.786 million to $3,292.9 mil—lion,tents,canvas and tarpaulin by 0.02 percent from$110.389 million to $110.4million,towels by 18.5 percent from $937.5 million to $1,111.3 million,readymade gar—ments grew by 28.75 percent from $3,032.8 million to$ 3,904.7 million,silk,art,and synthetic textile by 24.2 percent from $370.4 million to $460.1 million,made up articles other than towels and bead wear by 12.2 percent from $756.4 million to $849.1 million while the exports of all other export materials grew by 20.4 percent from$632.5 million to $761.4 million.

Moreover,on a year—on—year (YoY) basis,textile exports surged by 2.86 percent by increasing from$761.5 million in June 2021 to $1,706.3 million in June 2022.On a month—on—month (MoM) basis,however,textile exports from the country decreased by 3.93 percent in June 2022 against the exports of $1,641.9 million registered in May,the data revealed.The PBS also reported that exports from the country witnessed a rise of 25.5 percent during FY22 against the same pe—riod of last year.

Exports from the country were recorded at $31.8 billion during FY22 as compared to the exports of $25.304 billion recorded during FY21,a growth of 25.5 percent.However,imports during the year under review also increased by 41.93 percent rising from $56.4 bil—lion in FY21 to $80 billion in FY22.