ISLAMABAD: Eight export-oriented sectors including value-added textiles posted double-digit growth in November compared to the same month a year ago, data compiled by the Ministry of Commerce showed on Wednesday.

Growth in the value-added sectors contributed to an increase in overall exports from the sectors. Highest-ever depreciation of the rupee against the dollar and greater demand from the international market are reasons behind the growth in these export-oriented sectors.

The upward trend in exports of value-added sectors was seen for the past few consecutive months. In November, the total exports’ proceeds from the country reached $2.884 billion, up by 32.84 per cent from $2.171bn over the same period last year.

Rupee depreciation, greater demand from international market helped bolster exports

Exports of home textile products were up by 34pc to $465 million in November against $347m over the last year, followed by a 33pc increase in men’s garments to $446m against $335m last year. An increase of 68pc in jerseys and cardigans exports to $86m was noted against $52m over the corresponding month last year.

Exports of women’s garments posted an increase of 34pc to $83m in November against $62m over the corresponding month of last year, followed by 24pc increase in export of leather apparel to $70m against $56m over the last year. An increase of 127pc was noted in the export of fruits and vegetables to $63m against $28m over the last year. Cement exports were up by 193pc to $53m in November against $18m last year.

Exports of plastics posted a negative growth of 34pc to $46m against $69m from a year ago. A 5pc decline in exports of surgical instruments to $38m against $40m was observed over the corresponding month of last year. A decline of 7pc in meat exports to $30m from $32m a year ago was noted. A drop of 43pc in export of furniture to $2m from $4m was observed from a year ago.

According to the data, the United States of America, China, United Arab Emirates and Netherlands remained the top destinations of Pakistan’s exports during the month of November from a year ago.

Pakistan exports to the US posted growth of 48pc to $634m in November against $428m over the corresponding month of last year, followed by 30pc increase to China as it stood at $353m this year against $273m over the last year and 96pc increase to the UAE as it stood at $145m against $74m.

The export value to the Bangladesh increased by 87pc to $90m this year against $48m over last year, followed by an increase of 30pc to Germany as it reached $166m against $128m over the last year. Exports to Sri Lanka increased 185pc to $52m against $18m last year. Exports to Belgium went up 68pc to reach $76m against $45m over last year. Exports to Malaysia increased 220pc to $39m against $12m while exports to Italy went up 40pc to $93m against $66m.

In November, Pakistan’s exports declined 11pc to Afghanistan as it stood at $71m against $80m, 12pc to Indonesia to $17m from $19m, a decline of 65pc to Vietnam to $12m from $34m, and 24pc to Ukraine to $4m from $6m.

Published in Dawn, December 16th, 2021

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Back to politics
Updated 29 Nov, 2022

Back to politics

PDM and PTI must realise that neither will get what they want if they keep fighting bitterly at every turn.
Election delay
29 Nov, 2022

Election delay

OF recent, leaders from the ruling PML-N have been dropping hints about a possible delay in general elections after...
Sugar woes
29 Nov, 2022

Sugar woes

IT’S that time of year again when cane growers get anxious over the delay in the commencement of the new sugar...
1971 in retrospect
Updated 28 Nov, 2022

1971 in retrospect

The point of no return came when the military launched Operation Searchlight in March 1971.
Gender-based violence
28 Nov, 2022

Gender-based violence

IT is a war without boundaries and seemingly without end. A UN report on femicide released on Nov 25, the...
Battle against dacoits
28 Nov, 2022

Battle against dacoits

THE Punjab police is clearly fighting a formidable, and so far losing, battle against the criminal gangs based in ...