Exports of textile, garments rise to $13.7bn

Published July 24, 2014
Afridi said that decline in exports last month was mainly due to energy shortage.— File photo
Afridi said that decline in exports last month was mainly due to energy shortage.— File photo

ISLAMABAD: Exports of textile and clothing grew by 5.30 per cent to $13.738 billion during the previous fiscal year compared to $13.047bn a year ago, because of a slight increase in exports of value-added products, showed data of Pakistan Bureau of Statistics on Wednesday.

Only eight textile products witnessed positive export growth among all textile and clothing categories.

In June 2014, exports of textile and clothing fell by 1.52 pc over the same month of last year.

Textile exports rise by 6.5pc in July-April

Textile Minister Abbas Khan Afridi has linked the growth in the overall textile and clothing sector in FY14 to 18pc surge in exports to European Union (EU) countries under GSP+ status.

He told Dawn that substantial growth was witnessed in the value-added textile sector exports to EU countries. The minister believed that the package announced by the government in the budget 2014-15 would further facilitate exports from the sectors.

Afridi said that decline in exports last month was mainly due to energy shortage, especially in Punjab. He said textile mills were operating in two shifts instead of three because of electricity shortage.

An official source told Dawn that a high-powered committee on energy was constituted on the directive of Prime Minister Nawaz Sharif. The committee, headed by Finance Minister Ishaq Dar, included ministers for water and power, petroleum, commerce and textile industry.

However, the source said, “No meeting of the committee was held so far to address the energy issues.”

Product-wise details show that export of low value-added products, such as cotton cloth, was up by 3.11pc, yarn (other than cotton yarn) 12.82pc; other textile material 23.24pc; and made-up articles, excluding towels and bedwear, 11.41pc during the year under review.

In the value-added sector, export of bedwear increased by 19.78pc, knitwear 10.53pc and readymade garments 8.67pc. Export of towels dipped by 0.30pc; cotton yarn 11.65pc, cotton carded or combed 53.30pc and tents 30.07pc. Raw cotton export witnessed a robust growth of 33.27pc.

Total export proceeds rose by 2.75pc to $25.131bn in FY14 from $24.460bn in FY13.

Oil and foodstuffs

Oil and eatables import bill dropped marginally by 0.73pc to $19.02bn from $19.16bn.

The country’s total import bill reached $45.112bn during 2013-14 as against $44.950bn, showing an increase of 0.36pc.

The import bill of food products fell by 0.12pc to $4.182bn from $4.187bn a year earlier. Imports of palm oil, tea and pulses increased substantially because of shortage in domestic market.

Import of sugar witnessed an increase of 19.57pc, wheat 1468.89pc and milk products 19.07pc during the year under review.

Statistics showed that oil import bill declined marginally by 0.90pc to reach $14.838bn in FY14 compared to $14.972bn last year.

Import of crude oil rose by 6.09pc to $5.775bn from $5.444bn. Import of petroleum products fell to $9.063bn, down by 4.89pc from $9.528bn last year.

Published in Dawn, July 24th, 2014

Opinion

Misplaced anger at poor show
24 Jan 2021

Misplaced anger at poor show

In the UK, when a party is elected to office after being in the opposition, its leader takes over as prime minister seamlessly.

Editorial

Updated 24 Jan 2021

Delayed olive branch

THE PTI government has finally mustered up sufficient political prudence to extend an olive branch to the opposition...
24 Jan 2021

Bureaucracy reform

WHILE the intention behind the endeavour may be lauded, the civil service reform package unveiled by the government...
24 Jan 2021

Minority rights

ON Thursday, the United Nations General Assembly adopted a resolution to safeguard religious sites around the world,...
23 Jan 2021

Power price hike

ALREADY struggling to cope with the impact of the Covid-19 pandemic and rising food prices, consumers received yet...
Updated 23 Jan 2021

Israeli land grab

WITH the chapter now closed on the Trump presidency, the eyes of many in the international community — ...
23 Jan 2021

New PhD policy

EARLIER in the week, the HEC chairman announced several changes for undergraduate and PhD degrees in the country....