ISLAMABAD: The 11 export-oriented sectors, including value-added textiles, posted double-digit growth in February compared to the same month a year ago.
Data compiled by the Ministry of Commerce showed that the growth in the value-added sectors contributed to an increase in overall exports from these sectors.
The highest-ever depreciation of the rupee against the dollar and greater demand from the international market are reasons behind this growth.
The government has announced several measures including cash subsidies for the promotion of value-added sectors. Moreover, the massive depreciation also contributed to enhancing exports to the Western markets.
The upward trend was seen for the past few consecutive months.
In February, the total export proceeds of these sectors went up by 35.78 per cent to $2.80 billion from $2.06bn over the same period last year.
Exports of men’s garment products were up by 49pc to $460 million in February against $309m over the last year, followed by a 28pc increase in home textiles to $400m from $312m, 57pc in cotton fabric to $233m from 148m, and 49pc in women’s garments to $81m from $54m respectively.
The exports of T-shirts up 41pc to $66m from $47m, stocking and socks 34pc to $45m from $34m, and synthetic fabric 46pc to $39m from $27m, respectively.
Among the non-textile products, the exports of rice went up by 42pc to $254m in February 2022 from $179m a month last year, 24pc increase in leather apparel to $60m from 48m, and an increase of 95pc in plastics to $51m from $26m respectively.
According to the data, the United States, China, the United Arab Emirates and the Netherlands remained the top destinations of Pakistan’s exports in February from a year ago.
Exports to the US posted growth of 25pc to $473.87m in February against $379.95m over the corresponding month of last year, followed by 118pc increase to the UAE as it stood at $164.08m this year against $75.43m over the last year and 94pc increase to the Netherlands as it stood at $182.34m against $93.91m.
The export value to Germany increased by 60pc to $179.23m this year against $112.08m last year, followed by an increase of 102pc to Italy as it reached $123.62m against $61.27m the last year.
Published in Dawn, March 10th, 2022
