Islamabad January 19 2024: Pakistan earned USD 8,283,261 million from exports of textile products during the first half of the current financial year (2023-24), the Pakistan Bureau of Statistics (PBS) reported here Friday.
The exports of the product however witnessed a decline of 4.97 percent during July-December (2023-24) when compared to the exports of USD 8,716,437 million during July-December (2022-23).
The textile commodities that witnessed positive growth in trade included raw cotton, the exports of which grew by 374.66 percent, from USD11.253 million last year to USD53.412 million this year.
Likewise, the exports of cotton yarn increased by 54.25 percent, from USD 381,545 million last year to USD 588,529 1 million this year and towels by 1.72 percent, from USD 491.696 million to USD 500.133 million.
The textile commodities that witnessed negative growth include cotton cloth, the exports of which declined by 13.10 percent, from USD1,066.360 million to USD926.677 million; cotton carded or combed by 27.33 percent, from USD0.809 million to USD0.588 million; yarn other than cotton yarn by 13.85 percent, from USD22.708 million to USD19.562 million, and knitwear by 10.65 percent, from USD 2,464.971 million to USD 2,202.529 million.
Likewise, the exports of bed wear declined by 3.55 percent from USD 1,427.730 million to USD 1,377.109 million, tents, canvas and tarpaulin by 1.45 percent, from USD61.838 million to million, USD60.941, ready-made garments by 8.93 percent, from USD 1,832.835 6 million to USD 1,669.253 million.
The exports of art, silk and synthetic textile also decreased by 15.29 percent by declining from USD209.225 million to USD177.237 million, madeup articles by 6.81 percent, from USD378.660 million to USD352.864 million whereas the exports of all other textile materials also went down by 3.37 percent, from USD366.807 million to USD345.428 million.
Meanwhile, on year –on-year basis, the textile exports increased by 3.33 percent by going up from USD 1,354.523 million in December 2022 to USD 1,399.655 million in December 2023.
On month-on-month basis, the exports grew by 6.15 percent when compared to exports of USD 1,318.536 million in November 2023.
It is pertinent to mention here that the country’s overall merchandize trade deficit contracted by 34.29 per cent during the first half of the current fiscal year compared to the corresponding period of last year.
The Trade deficit from July-December (2023-24) was recorded at USD11.148 billion as against the deficit of USD16.965 billion in July–December (2022-23), showing negative growth of 34.29 per cent.
During the period under review, the exports increased by 5.17 per cent to USD14.981 billion compared to the exports of USD14.244 billion during the corresponding period of last year, according to the latest PBS data.
On the other hand, the imports narrowed by 16.28 per cent and were recorded at USD26.129 billion compared to USD31.209 billion last year.
