Pakistan’s textile exports decline 7.34% in July-May

In the July-May period of 2015-16, Pakistan’s textile exports continued to decline while the foreign exchange earnings from all other exportable products decreased except for readymade garments, according to official reports.

Textile exports of the country registered a negative growth of 7.34 per cent to US$11.468 billion in July-May 2015-16 as compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS) data.

The major decline was seen in the exports of cotton carded/combed with 97 per cent, followed by raw cotton (48.04 per cent), cotton yarn (32 per cent), tents, canvas and tarpaulin (26 per cent) and yarn (23 per cent).

On the contrary, exports of readymade garments rose 4.84 per cent to US$1.993 billion in the July-May period of the current fiscal year.

According to the data, exports of leather garments and products dipped 12.55 per cent to US$480.636 million in July-May period.

During the review period, the country’s total exports declined 12.39 per cent to US$19.151 billion.

In May 2016, the overall textile exports of Pakistan dropped 3.53 per cent to US$1.072 billion as compared to the same month a year ago, while they were up 3.81 per cent over the preceding month.