ISLAMABAD: Exports of textiles and clothing grew three per cent year-on-year to $1.006 billion in July from $979.414 million in the same month last year, the Pakistan Bureau of Statistics (PBS) said on Tuesday.
An official said one of the reasons for revival in textile exports was the release of pending refunds and uninterrupted supply of electricity and gas to the sector. The cash subsidy under the prime minister’s package helped in promoting exports.
Exports of ready-made garments edged up 20.47pc while exports of knitwear fell 5.8pc during the last month. Last year, exports of ready-made garments also witnessed a nominal growth despite fall in proceeds from all other products.
Exports of bed-wear edged up 0.57pc, while those of towels fell 13pc.
In primary commodities, exports of cotton yarn witnessed a year-on-year increase of 6.3pc while those of cotton cloth and yarn (other than cotton) dropped 8pc and 34pc, respectively.
Exports of made-up articles, excluding towels, increased 4pc and those of tents, canvas and tarpaulin grew 26pc. Proceeds from art, silk and synthetic textile exports increased 340pc while exports of raw cotton also recorded a year-on-year decline of 70pc.
One reason for the decline in Pakistan’s textile exports is that the preferential access to the European Union under the GSP+ scheme hasn’t boosted proceeds due to a slump in demand.
The overall export proceeds surged by 10.58pc to $1.631bn in July as against $1.47bn over the corresponding month of last year.
Foodstuff, oil and machinery imports
The import bill of machinery, oil and eatables increased 33pc to $2.49bn in July from $1.872bn in the same month last year.
The import bill of food products rose 43pc to $534.693m from $373.512m, mainly driven by imports of tea, spices, sugar, soybean oil and pulses.
Oil imports up 21.72pc to $946.958m in July this year from $778.009m last year. The surge in imports of raw and petroleum products was witnessed during the period under review. At the same time growth was also notice in import of liquefied natural gas (LNG).
The imports of machinery mainly driven by generators and machinery went up by 41pc to $1.01bn in July 2017 as against $721.460m over the corresponding month of last year.
However, the imports of textile and office machinery witnessed a negative growth during the month.
Published in Dawn, August 23rd, 2017