ISLAMABAD: Despite challenges of energy shortage, the textile sector of the country has performed well during the first half of the current fiscal year as its exports surged by 25.79 per cent over the same period of last year.
Textile exports during July-December (2010-11) were recorded at over US$6.284 billion against the exports of 4.995 billion during July-December (2009-10), according to data released by the Federal Bureau of Statistics.
The textile exports during December 2010 also witnessed a remarkable growth of 15.47 per cent and 42.65 per cent over November 2010 and December 2009 respectively.
Textile exports during December 2010 were recorded at $1.174 billion against the exports of $1.017 billion in November 2010 and $823.583 million in December 2009, the figures revealed.
The products that contributed in the positive growth of textile exports during the first half of the current fiscal year included cotton cloth, exports of which increased by 30.63 per cent.
Similarly the exports of raw cotton increased by 13.91 per cent, cotton yarn by 26.49 per cent, yarn (other than cotton yarn) by 43.11 per cent, knitwear by 24.07 percent, bed wear by 16.01 per cent towels by 7.23 per cent readymade garments by 34.99 per cent, art, silk and synthetic textile by 69.68 percent, made up articles by 21.48 per cent while the exports of other textile products increased by 47.73 per cent.
The only commodities that witnessed negative trend in exports included cotton (carded or combed) and tents, canvas and tarpaulin, exports of which decreased by 43.60 per cent and 46.69 per cent during the first half of current year over the corresponding period of last year.
On the other hand exports of food group increased from $1.450 billion in July-December (2009-10) to $1.540 billion in July-December (2010-11), showing an increase of 6.18 per cent.
Exports of petroleum and coal also surged by 35.33 per cent during the period under review by growing from $409.884 million to $554.716 million.
Exports of other manufactures group also witnessed increase of 3.54 per cent by growing from $1.796 billion to $1.859 billion, according to the figures.
It is pertinent to mention here that country's overall exports exceeded $2.12 billion during the month of December, showing an increase of 35 per cent, a record in Pakistan's 63-year history.
Year 2011 has been declared the year of exports and the Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) have been involved in devising a comprehensive strategy to boost country's exports.