Textile exports rise by 6.5pc in July-April

Updated 23 May 2014

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ISLAMABAD: Export of textile and clothing grew by 6.5pc to $11.437 billion during the first 10 months (July-April) of this fiscal year compared to $10.739bn a year earlier, showed data of Pakistan Bureau of Statistics on Thursday.

However, the export value of textile and clothing fell to $1.054bn during April 2014 compared with $1.123bn in the same month last year, mainly because of decline in export of value-added products.

Only six textile products witnessed positive growth in exports among all the textile and clothing categories.

The growth of textile and clothing stagnated around 7pc in the last few months because of capacity issues, especially in Punjab which is facing shortage of electricity and gas.

Textile industry is working on a new textile policy for the year 2014-19 with support schemes of more than Rs80bn. The ministry claims the exports from the sector will increase to $26bn by the end of 2019.

Product-wise details show that export of low value-added products, such as yarn other than cotton yarn, was up 132.39pc, made-up articles excluding towels, bedwear 11.46pc and other textile manufacture by 21.68pc during July-April 2014 compared to the same period of last year.

In the value added sector, export of bedwear increased by 6.71pc, and knitwear by 16pc in April 2014. However, the exports of readymade garments dipped by 6.76pc.

Exports of towels dipped by 12.92pc; cotton yarn 30.03pc, cotton cloth 7.35 pc and tents 23.84pc during the month. Raw cotton export witnessed a robust growth of 23.28pc.

Total export proceeds increased by 4.24pc to $20.997bn in July-April 2014 from $20.143bn over the corresponding period of last year.

Oil and eatables

Oil and eatables import bill declined by 2.288pc during the 10 months compared to the year-ago period.

In absolute terms, import bill of these two products fell to $15.628bn in July-April 2014 from $15.994bn year on year.

Pakistan’s total import bill reached $37.104bn during the months under review as against $36.664bn, an increase of 1.20pc.

The import bill of food products dipped by 5.76pc to reach $3.423bn during the 10 months compared to last year’s $3.632bn.

The decline in food items’ import was mainly driven by substantial increase in the import of palm oil, tea, and pulses.

Import of sugar rose by 24.06pc, wheat 100pc and dry-fruits 28.29pc during the 10-month period.

Statistics showed that oil import bill reached $12.205bn in July-April 2014 as against $12.362bn over last year, indicating a decline of 1.27pc.

Import of crude oil increased year on year by 3.11pc, to $4.738bn during the period. Import of petroleum products fell to $7.466bn, down by 3.86pc from $7.766bn last year.

Published in Dawn, May 23rd, 2014