Textile exports up 3.7pc

Updated February 18, 2020

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Textile and clothing exports increased 3.68 per cent year-on-year to $8.099 billion during the first seven months of 2019-20, from $7.812bn in same period last year, showed Pakistan Bureau of Statistics data on Monday. — AFP/File
Textile and clothing exports increased 3.68 per cent year-on-year to $8.099 billion during the first seven months of 2019-20, from $7.812bn in same period last year, showed Pakistan Bureau of Statistics data on Monday. — AFP/File

ISLAMABAD: Textile and clothing exports increased 3.68 per cent year-on-year to $8.099 billion during the first seven months of 2019-20, from $7.812bn in same period last year, showed Pakistan Bureau of Statistics data on Monday.

The July-January figures showed marginal growth in textile and clothing ex­­ports emanated from the value-added sector.

This uptick in the value-added sector helped raise the overall exports by 2.2pc year-on-year to $13.05bn in 7MFY20, from $13.215bn in corresponding months the year before. In January, textile and clothing export proceeds were recorded at $1.19bn, higher by 2.25pc, from $1.16bn over similar month of 2019.

Product-wise details reveal exports of knitwear increased by 6.27pc in value and 4.57pc in quantity, followed by 2.77pc and 9.78pc in bedwear, respectively. Foreign sales of readymade garments rose by 10.84pc in value and 20.99pc in volume while those from towels dipped by 0.52pc in value but were up 6.3pc in quantity. Export of cotton yarn inched up 0.78pc during the period under review.

Moreover, export of cotton cloth lowered by 3.6pc, yarn other than cotton 8.44pc, and cotton carded 72pc while that of raw cotton rose by 9.99pc and art and silk 15.21pc

Oil imports: Meanwhile, the import bill of petroleum group plunged 17.91pc to $7.13bn during 7MFY20, with crude oil posting the largest drop of 11.32pc in total quantity to 4.56 million tonnes.

The cost of petroleum products declined 21.83pc with 10.52pc fall recorded in terms of quantity, bringing the total down to 5.49m tonnes. Liquefied natural gas imports decreased 6.26pc while those of liquefied petroleum gas rose 21.75pc.

Machinery imports inched up 0.66pc to $5.27bn, from $5.24bn last year led by electrical machinery, jumping by 36.64pc and telecom 31.36pc during the seven months.

In telecom sector, imports of mobile handsets soared 79.46pc to $760.58m while those of other apparatus plunged by 25.33pc to $268.54m. The increase in former was a result of crackdown on smuggling and doing away with free imports in baggage schemes.

Import of machineries related to agriculture, textile, construction among others declined. The overall transport group also witnessed a decrease of 44.95pc.

Meanwhile, food group imports fell by 11.81pc mainly due to imposition of regulatory duties on proceeds. The decline was noted in import of milk product, wheat, dry fruits, tea, soybean oil, palm oil, sugar, and pulses. On the flip side, foreign buying of spices increased by 6.15pc.

Published in Dawn, February 18th, 2020