MG Link News – According to the latest numbers released by the Pakistan Bureau of Statistics (PBS), year on year textile exports during the month of March went up by more than 12.95 percent reaching a total of $ 1.202 billion. Also, month on month growth in exports of textile also posted significant growth. Exports compared to February, 2018 went up by 12.81 percent.
Textile segment is the largest exporting sector of Pakistan and a major chunk of export earnings is derived from this sector. According to the March 2018 PBS releases, subset of Textiles, Knitwear was the top most contributor as production in knitwear during March reached to 9,880 thousand dozen units translating in to exports worth $ 230.109 million dollars. Knitwear input to the entire Textile group exceeds 19 percent contributing a major chunk of the textile related earnings.
The second top performing subset of textile sector during the month was Ready-made Garments which contributed more than 18 percent of the group’s entire exports. Total revenue generated from Ready-made garments exports during March, 2018 reached a sum of $ 223.104 million.
Towel subhead contributes more than 6 percent of the textile’s export earnings. Total revenue generated from towel’s exports during March, 2018 reached a sum of $ 75.579 million.
The other major portion of earnings in the textile sector came from Cotton Cloth subgroup as it fetched more than 17 percent of the Textile Group exports clocking in at $205.026 million.
On contrary, Textile subgroup which posted declining trends include Cotton Carded or Combed, Raw Cotton, and Tents, Canvas & Tarpaulin exports.
Raw cotton exports during the month of March, 2018 fell by more than 52.9 percent with total exports reaching 165 million tons compared to 31 million tons during February, 2018.
Month on month Raw Cotton production declined by 56.23 percent with a year on year decline of 66.6 percent; a steep fall of 90 percent since October, 2017.