ISLAMABAD: Pakistan exported textile products worth $5,565.079 million during the first four months of the current financial year (2023-24), reported by the Pakistan Bureau of Statistics (PBS) here on Monday.
According to PBS, the exports of the product, however, recorded a decline of 6.33 percent during July-October (2023-24) against the exports of $5,940.992 million during the months of July to October 2022-23.
The textile commodities that witnessed positive growth in trade comprised raw cotton, the exports of which went up by 137.13 percent, from $9.845 million in 2022 to $23.346 million in 2023.
Likewise, the exports of cotton yarn increased by 42.85 percent, from $285.315 million last year to $407.564 million this year, cotton by 142.76 percent, from $0.213 million to $0.518 million, tents, Tarpulin, and canvas by 1.09 percent, from $37.355 million to $37.763 million and towels, the exports of which increased by 6.67 percent, from $316.860 million to $337.987 million.
Textile Products with Negative Growth
The textile products that witnessed negative growth include cotton cloth, the exports of which went down by 13.94 percent, from $750.115 million to $645.535 million, yarn other than cotton yarn by 6.50 percent, from $14.730 million to $13.773 million, and knitwear by 13.41 percent, from $1,712.595 million to $1,482.864 million.
Likewise, the exports of bed wear went down by 5.18 percent, from $996.841 million to $945.182 million, and ready-made garments by 8.71 percent, from $1,187.060 million to $1,083.683 million.
The exports of art, silk, and synthetic textiles also declined by 19.85 percent, from $146.275 percent to $117.241 million, made up of articles by 1.45 percent, from $238.010 million to $234.555 million, whereas the exports of all other textiles materials also went down by 4.36 percent, from $245.777 million to $235.068 million.
It is worth mentioning here that the country’s merchandise trade deficit contracted by 34.70 percent during the first four months of the current fiscal year compared to the corresponding period of last year.
The Trade deficit from July-October (2023-24) was recorded at $7.416 billion as against the deficit of $11.356 billion in July–October (2022-23), showing negative growth of 34.70 percent.
During the period under review, the exports increased by 0.66 percent to $9.617 billion against the exports of $9.554 billion during the same period last year, according to the data released by PBS.
On the other hand, the imports narrowed by 18.54 percent and were recorded at $17.033 billion compared to $20.910 billion last year.