Raw cotton exports up by 57% in redemption of last year’s value

October 19, 2018 (MLN): Textile exports during September 2018 have diminished by 18.5% over the previous month and by 4.9% over the corresponding period of last year.

However, the export of raw cotton seems to be redeeming its momentum from last year (September 2017) as its value, when measured in dollars, increased remarkably by 57% over previous month. The export value of raw cotton last year, had logged in at $20.9 million while this year it stands in at only $3.7 million, though considerably higher than previous month.

According to a formal report on the export figures of Pakistan, of all the textile products exported during the month, the export of readymade garments has experienced the largest decline in terms of value, on a month on month basis. It came down from $224.2 million during August 2018 to $163.8 million in September.

Among the remaining textile products, exports of made-up articles including towels, bed-wear, knitwear and cotton cloth, all suffered declines over prior month.

Export value of cotton yarn in specific has dropped by 16% over the month and almost 19% over the corresponding period of last year. During the month under review, cotton yarn worth $89.6 million has been exported while last month it amounted to $106.8 million worth of exports and last year it stood at $110.5 million. 

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