Eight sectors record double-digit growth in exports

Published November 12, 2021
A file photo of a crane lifting up container at port. — Reuters/File
A file photo of a crane lifting up container at port. — Reuters/File

ISLAMABAD: Pakistan’s exports of eight sectors including value-added textiles posted a double-digit growth in the four months of 2021-22 compared to the same period a year ago, data compiled by the Ministry of Commerce showed on Thursday.

Growth in value-added sectors contributed to an increase in overall exports from the sectors. One of the reasons for growth in these sectors is due to depreciation of the rupee and greater demand from the international market.

In absolute terms the exports of the eight products reached $5.632bn between July and October this year against $4.377bn over corresponding months of last year, indicating a growth of 28.67pc.

Exports of men’s garments products were up by 32pc to $1.584bn in 4MFY22 against $1.201bn over the last year, followed by a 22pc increase in home textiles to $1.575bn against $1.294bn last year. An increase of 20pc in cotton fabric to $745m was noted against $622m over the corresponding period of last year.

Read more: Exports register record in October, rise 17.5pc to $2.47 billion

The export of rice posted an increase of 19pc to $599m in 4MFY22 against $502m over the corresponding period of last year, followed by 73pc increase in export of cotton yarn to $398m against $230m over the last year and an increase of 60pc in export of jerseys and cardigans to $330m against $206m over the last year.

The exports of women’s garments posted growth of 20pc to $270m against $225m and a 35pc increase in exports of synthetic fabric to $131m against $97m over the corresponding months of last year.

According to the data, the US, UK and China remained the top destinations of Pakistan’s exports during the first four months of FY22.

Pakistan exports to the United States posted growth of 33pc to $2.08bn between July and October this year against $1.558bn over the corresponding months of last year, followed by 82pc to $935m this year against $514m over the last year and 11pc increase to the UK as it stood at $742m against 669m.

The export value to the Netherlands increased by 23pc to $495m this year against $403m over last year, followed by an increase of 33pc to Spain as it reached $368m against $276m over the last year, an increase of 19pc to UAE to $356m against $298m and an increase of 35pc in exports to Italy as it reached $307m against $228m over last year.

Published in Dawn, November 12th, 2021

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