ISLAMABAD: Export of textile and clothing surged to $1.128 billion in November 2014 from $998.143 million in the corresponding period of last year, an increase of 7.01 per cent, Pakistan Bureau of Statistics data showed on Saturday.

Talking to Dawn, Federal Textile Minister Abbas Khan Afridi linked the surge in exports to the government’s decision of ensuring uninterrupted power and gas supply to the textile mills in Punjab.

He said: “We are expecting higher growth because of preferential access to European markets,” referring to the GSP+ scheme granted by the 28-nation European Union.

He further informed that recently his ministry held a meeting of Pakistani textile manufacturers with international buyers especially leading brands including GAP, Wal-Mart, Target, Adidas etc.

Product-wise details show that export of low value-added products, such as cotton cloth fell by 3.64pc; cotton carded 87.50pc; and art, silk 15.92pc during the month under review over the corresponding month last year.

Raw cotton export witnessed a robust decline of 26.97pc in Nov 2014 from a year ago. However, the export of cotton yarn witnessed a growth of 24.49pc; yarn other than cotton yarn 640pc during the month under review.

Exports of value added products witnessed increase during the month under review. The exports of knitwear witnessed a growth of 10.33pc, followed by bedwear 3.16pc, towels 3.25pc, and readymade garments 12.85pc.

Total exports witnessed a decline 4.18pc to $9.922bn in July-Nov period this year as against $10.355bn over the corresponding period last year.

OIL AND FOOD PRODUCTS: Import of oil and eatables bill witnessed an increase of 3.54pc in the first five months (July-Nov) of this fiscal year from a year ago.

In absolute terms, import bill of these two products reached to $8.50bn from $8.21bn over the corresponding period of last year.

Total import bill reached $20.369bn during the period under review as against $18.109bn, showing an increase of 12.48pc.

The import bill of food products witnessed a surge of 36.49pc at $2.384bn in July-Nov 2014 as against $1.746bn over the corresponding period last year.

The increase was mainly driven by import of wheat which witnessed an increase of 75.35pc, palm oil 2.01pc, pulses 36.78pc and all other products 87.45pc during the period under review. However, import of sugar also increased.

Statistics show that oil import bill reached $6.114bn in July-Nov this year as against $6.461bn over last year, indicating a decline of 5.37pc. Import of crude oil was down by 5.06pc while import of petroleum products fell by 5.89pc.

Published in Dawn December 21th , 2014