ISLAMABAD: Textile exports during December 2020 increased by 22.72 per cent to a historic high of $1.401 billion compared to $1.14bn in the corresponding month of last year, latest data released by the Pakistan Bureau of Statistics on Friday showed.

On a month-on-month basis, the country’s exports during the month increased by 9.20pc.

On a cumulative basis, the textile exports increased by 7.79pc to $7.442bn in July-December against $6.904bn in the same period last year, the data showed.

The textile commodities that contributed to positive trade growth included knitwear, exports of which increased to $1.849bn during 1HFY21 compared to $1.586bn last year. Likewise, bedwear exports increased by 16.38pc to $1.394bn; towels exports increased by 17.47pc to $445.709 million.

The exports of tents, canvas and tarpulin grew by 57.77pc to $62.477m; readymade garments by 5.54pc to $1.490bn; art, silk and synthetic textile increased by 0.17pc to $167.502m; made-up article by 17.46pc to $379.229m.

Meanwhile, exports of the commodities that witnessed negative growth included raw cotton, declining by 96.14pc to $0.592m while those of cotton yarn decreased by 26.36pc to $400.730m.

In addition, exports of cotton cloth also decreased by 7.73pc to $935.009m and yarn (other than cotton yarn) by 7.28pc to $13.464m.

It is pertinent to mention here that the country’s merchandise exports increased by 4.98pc during the first half of the current fiscal year as compared to the corresponding period of last year.

The total exports from the country during July-December were recorded at $12.110bn against $11.524bn during the same period last year, according to the latest PBS data.

The imports into the country during the period under review also increased by 5.72pc by growing from $23.195bn last year to $24.521bn during the first half of current fiscal year.

Based on the figures, the country’s trade deficit increased by 6.44pc during the first half compared to the corresponding period of last year. The trade deficit during the first six months of the current fiscal year was recorded at $12.423bn against the deficit of $11.671bn last year.

Published in Dawn, January 16th, 2021