May 21, 2021 (MLN): Textile exports during the month of April 2021, clocked in at US$1.34 billion, jumped by 3.31x YoY. When compared with the figures of the previous month, exports of textile goods depicted a marginal decline of 1.34% MoM.
This takes the total textile exports in 10MFY21 to reach US$12.69 billion as against US$10.82 billion, depicting an increase of 17.35% YoY.
The data released by the Pakistan Bureau of Statistics (PBS) revealed that the rise in textile exports during the first ten months of the current fiscal year was attributed to a rise in exports of value-added segments where Knitwear, Bed-wear, Readymade garments and Towels surged respectively by 30.7% YoY, 24.7% YoY, 12.6% YoY and 27.2% YoY to US$3.13 billion, US$2.29 billion, US$2.51 billion and US$776 million compared to 10MFY20.
In the month of April alone, the exports of Knitwear, Bed-wear and Towels witnessed an upsurge of 10% MoM/274% YoY, 1.8% MoM/212% YoY and 3.9% MoM/362% YoY to US$345 million, US$239million and US$84 million respectively.
On the other hand, textile imports during the month of April 2021 dropped by 6% MoM to stand at US$363 million while on yearly basis, the country witnessed a 56.2% YoY jump in textile imports. Within the textile segment, Raw cotton imports declined by 4.2% MoM to US$154 million.
On a cumulative basis, during 10MFY21, the import of textile-related products grew by 46.6% YoY to US$3.15 billion primarily due to a 76% YoY increase in Raw Cotton imports to US$1.18 billion from international markets.
