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Textile exports up 7.24pc in two months

Textile exports up 7.24pc in two months

LAHORE: The textile exports from the country increased by 7.24 per cent during the first two months of current fiscal year against the exports of same period of last year.

On year-on-year basis, textile exports during August 2013 increased by 3.42 per cent as compared to the exports of August 2012. The overall textile exports during July-August (2012-13) were recorded $2.305 billion against the exports of $2.149 billion during July-August (2011- 12), according to Pakistan Bureau of Statistics (PBS).

The textile products witnessed surge in raw cotton exports, which increased 496 per cent by going up from $5.590 million during the first two months of last year to $33.357 million during the current fiscal year.

Exports of cotton yarn also increased by 16.77 per cent from $333.911 million last year to $389.921 million this year while the exports of cotton cloth increased by 7.71 per cent from $434.277 million to $467.774 million.

According to PBS data, the exports of tents, canvas and tarpaulin increased from $1.3 million to $1.344 million, showing an increase of 1.89 million while exports of readymade garments increased from $298.209 million to $324.628 million with an increase of 8.86 per cent.

The products that witnessed negative growth in exports included cotton (carded or combed), exports of which declined by 71.79 per cent, from $0.319 million to $0.09 million whereas the exports of knitwear decreased by 1.07 per cent from $389.374 million to $385.197 million.

Exports of towels also decreased from $128.582 million last year to $119.682 million this year, showing negative growth of 6.92 per cent whereas the exports of art, silk and synthetic textile decreased by 2.16 per cent from $72.845 million to $71.269 million.

Meanwhile on year-on-year basis, textile exports during August 2013 increased by 3.42 per cent in August 2013 when compared to the exports of August 2012. The textile exports in August 2013 were recorded $1.095 million against the exports $1.059 million.

However, on month-on-month basis, the textile exports decreased by 9.43 per cent by going down from $1.209 billion in July 2013 to $1.095 billion in August 2013, the PBS data revealed.

It is pertinent to mention here that the country’s trade deficit narrowed by 3.07 per cent during the first two months of the current fiscal year as exports expanded by 3.66 while imports witnessing nominal increase of 0.54 per cent as compared to the same period of last year.

On year-on-year basis, the trade deficit decreased by 11.45 per cent in August 2013 when compared to the deficit of the same month of last year.

According data, the exports from the country during July-August 2013-14 were recorded at $4.091 billion against the exports of $3.946 billion recorded during July-August 2012-13.

On the other hand, the imports into the country during the first two months of the current fiscal year were recorded at $7.386 billion against the imports of $7.346 during the corresponding months of last year, showing nominal growth of 0.54 per cent.

Based on the figures, the trade deficit during July-August (2013-14) was recorded at $3.295 billion against the deficit of $3.400 billion in July-August (2012-13), showing negative growth of 3.07 per cent.