Textile exports from Pakistan have apparently hit the ground in the first four month of the current fiscal year. Although export growth during the four month was a modest 7.55 per cent, October numbers is disappointingly low at just 0.4 per cent on year-on-year basis.
In terms of value, according to Pakistan Bureau of Statistics (PBS), overall textile exports during the four months were at US$4.69 billion as against US$4.361 billion in the corresponding months of 2012-13. Textile exports in October 2013 were at US$1.115 billion as against US$1.11 billion last year.
The textile items that witnessed surge in export include raw cotton, which increased 43.27 per cent to US$81.56 million from US$56.92 million during the first four months of last year. Exports of cotton yarn stood at US$758.36 million this year, up 6.39 per cent while cotton cloth exports increased 5.2 per cent to US$946.60 million.
Exports of non-cotton yarn increased 5.64 per cent to reach at US$16.98 while bed wear items increased 21.1 per cent to US$727.31 million. Articles (excluding towels and bedwear) during the period under review increased 9.3 per cent to US$214.13 million.
The exports of art, skill and synthetic textile also increased by 18.09 percent from $122.571 million during July-October 2012-13 to $144.738 million during July-October 2013-14, whereas the exports of knitwear increased by 1.07 percent from $752.494 million to $763.865 million.
Items that witnessed decline in exports included cotton (carded or combed), exports of which declined by 70.8 percent, to US$166,000.
However, on a sequential basis, textile exports declined 12.27 per cent from US$1.27 billion in September 2013 to US$1.115 billion in October 2013.
Overall export of all commodities expanded 5.1 per cent while imports witnessing fall of 1.26 per cent, thus narrowing the overall trade deficit by 9.3 per cent during the first four months of the current fiscal year. The exports from Pakistan during July-October (2013-14) stood at US$8.58 billion as against US$8.16 billion recorded during July-October (2012-13). Meanwhile, imports were at US$14.46 billion down from US$14.64 last year. Trade deficit during July-October (2013-14) was at US$5.88 billion as against US$6.48 billion in 2012-13.
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