October exports mount as global garment demand hikes

November 19, 2018 (MLN): Exports in October 2018 increased to $1.9 billion (provisional) as compared to $1.7 billion (provisional) in September 2018, showing a leap of 10% and a step towards recovery, since previously, September 2018 had witnessed a sharp month-on-month decline of over 14%.

Main commodities of exports during October 2018 were knitwear, readymade garments, bedwear, cotton cloth, rice, cotton yarn, towels, fish and fish preparations, and rice basmati. Within these, the exports of rice and readymade garments accounted for the highest leap over the month.

Economic Expert Mr. Farhan Mehmood, in conversation with an official representative of the Mettis Link News, pointed out that during the second quarter, global demand for readymade garments mounts every year, owing to the approaching winter season.

Exports during July-October, 2018 totaled $7.3 billion (provisional) against $7 billion during the corresponding period of last year, marking an increase of 3.5%. This contributed towards shrinking the overall trade deficit by over 2%.

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