Islamabad August 16 2022: The exports of textile commodities decreased by 13.2 percent during the first month of the current fiscal year as compared to the previous month as country fails to arrange LNG cargoes to meet local gas requirement at affordable prices.
Pakistan able to get only eight cargoes during the month of July 2022 when compared with 12 cargoes received in the month of June 2022.
The textile exports were recorded at $1,481.021 million in July 2022 against the exports of $1,706.350 million in June 2022, showing drop of 13.2 percent, according to the latest data released by Pakistan Bureau of Statistics (PBS) on Tuesday.
The textile commodities that contributed in trade decline included cotton cloth the exports of which decreased by 9.47 percent to $181.984 million during the July 2022 as compared to the exports of $201.020 million in June 2022..
The commodities that witnessed growth in trade included raw cotton, the exports of which grew by 100 percent to $1.094 million.
The exports of cotton yarn decline by by 24.18 percent, from $94.125 million to $71.364 million.
Likewise, the exports knitwear decreased by 8.43, from $.474.944 million to $434.926 million, tents, canvas and tarpaulin by 20.23 percent, from $10.951 million to $8.736 million, readymade garments by 17.39 percent, from $368.699 million to $304.575 million and other textile materials by 12.48 percent, from $68.641 million to $60.076 million.
The exports of bedwear also went down by 10.58 percent from $284.042 million to $253.991 million, towels by 17.82 percent, from $91.223 million to $74.965 million, art, silk and synthetic textile by 18.28 percent, from $38.201 million to $31.216 million whereas the exports of made up article (excluding towels and bedwear) decreased by 20.62 percent from $68.940 million to $54.722 million.
Meanwhile, on year-on-year basis the textile exports from the country inclined by 0.67 percent during the month of July 2022 as compared to the exports of $1,471.185 million recorded in July 2021, the PBS data revealed.
It is pertinent to mention here that the country’s overall merchandise exports declined by 5.17 percent in July 2022 as compared to exports of July 2021. The exports during the month were recorded at US$2,219 million against the exports of US$2,340 million in last July.
The imports also declined by 12.81 percent to US$4,861 million in July 2022 compared to exports of US$5,575 million in July 2021.
Based on the figures, the merchandize trade deficit declined by 18.33 percent by going down form the deficit of US$3,235 million last July to US$2,642 million in July 2022, according to PBS data.