Textile Exports fall 0.92 percent year-on-year

Pakistan Bureau of Statistics reported a 0.92% decline in textile exports in an yea-to-year basis. The decline has been a result of low availability of raw materials due to loss in cotton crop output during the year. The numbers were also lower than the previous year because of unsubstantial exports of value added products.

The Product-wise details show that the exports of readymade garments rose by 5.34% whereas those of knitwear dropped by 0.175% in July-April. Exports of bed-wear edged up 5.01% while those of towels fell 4.38%.

In primary produce, exports of cotton yarn output declined by 3.68%, cotton cloth and yarn also fell by 5.73% and 29.48% respectively.  

In the made-up articles, excluding towels, the exports increased by 1.18% and those of tents, canvas and tarpaulin grew by 56.22pc. Exports in art, silk and synthetic textile exports declined 29.70% whereas raw cotton exports on a year-on-year basis declined of 47.58pc.

Cumulatively, the exports in the July-April were down by 2.29%. However, government on an effort to boost the sector had announced a Rs180 billion package from January 15^th. The package increased the tax rebate to 4% on readymade exports, 2% on home textiles and 1% on fabric.

Pakistan’s current account has widened by 104% during the current fiscal year. Textile sector, biggest contributor in Pakistan’s exports has suffered from a declining Chinese demand and low raw material production in the last year.