Pakistan textile exports to EU witnessed 21.3 pc increase in 2015

Pakistan textile exports to the European Union increased from 545,698 metric tonnes in 2013 to 662,475 metric tonnes in 2015, a 21.3 percent increase. On the other hand, exports from the country during March 2016 witnessed negative growth of 9.55 percent and reached to $1.742 billion compared to the exports of 1.926 billion in March 2015.

In 2015, among the textile productions, the exports of textile garments increased from 137,399 metric tonnes to 179,901 metric tonnes in 2015, showing an increase of 31 percent while the home made textile exports increased from 195,243 metric tonnes to 259,557 metric tonnes in 2015, showing growth of 33 percent.

The cotton exports to European Union increased from 211,522 metric tonnes in 2013 to 220,899 metric tonnes in 2015, showing a positive growth of 4.43 percent.

The carpet and rug exports increased from 1,803 metric tonnes to 2,116 metric tonnes in 2015, showing an increase of 17.35 percent.

Meanwhile, during the first three quarters of the current fiscal year (2015-16), the overall imports into the country declined by 4.22 percent during the first three quarters of the current fiscal year as compared to the corresponding period of last year.

Imports into the country during July-March (2015-16) were recorded at $32.515 billion, compared to the imports of $33.948 billion during July-March (2014-15), according to the data of Pakistan Bureau of Statistics (PBS) released on Tuesday.

The exports from the country also witnessed negative growth of 12.92 percent by falling from $17.921 billion last year to $15.606 billion during the current year.

Based on the figures, the overall trade deficit during the period under review was recorded at $16.909 billion compared to the deficit of $16.027 billion last year, showing increase of 5.50 percent.

On year-on-year basis, the imports into the country during March 2016 witnessed increase of 3.78 percent compared to the same month of last year.

The imports during March 2016 were recorded at 3.594 billion compared to the imports of $3.463 billion during March 2015, the data revealed.