Textile exports drop down by 16% with raw cotton as the only exception

Export of textiles have dropped down to $1 billion in July, a 16.09% drop in value over the $1.19 billion in exports recorded during the previous month.

Compared to the corresponding month of the last year, export of textiles has remained stagnant, falling only by a marginal 0.49% over this time frame.

According to data released by the Pakistan Bureau of Statistics, raw cotton is the only commodity that has witnessed an increase in exports among the textile group.

Compared to June 2018 when only $0.69 million worth of raw cotton was exported to foreign nations, in July that number went up to $0.9 million, a month-on-month increase of about 30.58%. When compared to the same period last year, the value of exports of raw cotton has however fallen by 8.71%.

The export of readymade garments, the most valuable textile export of the nation, has witnessed a 10.38% decline in its value over June, but remains around the same level as last year, having gone down merely 0.46% over July 2017.

Export of knitwear, our second most valuable textile export, similarly fell by 18.86% in July as the country exported knitwear worth $208.9 million in that month, compared to exports worth $257.4 million a month ago. On a year-on-year basis, the value of knitwear exported has however shown an increase of 7.78% as last year in June, knitwear exports were recorded at a value of $193.8 million.