Textile exports up 3.12% in July

Aug 22, 2019: The export of the country textile increased by 3.12% in July 2019 as compared to same period of last year, State Bank of Pakistan reported on Wednesday.

Textile exports during the first month of current fiscal year posted $1.226 billion against the export of $1.189 billion in same July 2018.

Textile items which posted growth during the period included raw cotton, export of which increased by 99% to $1.8 million in July this year compared to $918,000 in same month last year.

Similarly export of knitwear inched up to $262.453 million from $249.453 million in July last year, whereas export of bed wear also witnessed an increase of 6.7% as it rose to $207.7 million from $194.6 million last year.

Towels' export also rose to $60.4 million in July 2019 from $58.6 million last year, while ready made garments' export increased by 11% from $218.5 million to $242.714 million in the corresponding month this year.

Exports of art, silk and synthetic textile increased from $23.33 million to $25.46 million while other textile materials' export went to $57.634 million from $44.4 million in first month of previous fiscal year.

The textile items which witnessed a negative growth during the period under review included cotton yarn, export of which declined to $111.1 million from $121.18 million.

Similarly, export of cotton cloth also went down to $197.7 million in first month of current fiscal year compared to $198.5 million in same month of last fiscal year.

Export of yarn and other than cotton yarn fell to $2.9 million in July this year from $3.45 million in same period of last year, whereas export of tents, canvas and tarpulin also dropped to $4.8 million from $7.5 million last year.

During first month of current fiscal year, the overall exports of goods and services from the country posted an increase of 9% as it increased to $2.66 billion compared to $2.443 billion in July 2018.

While imports of goods and servieds in to the country dropped to $4.9 billion in July 2019 compared to $6.445 billion in same month of last year, thus showing a decline of 22.7%

APP