The export of Pakistani textile commodities showed an increase of 25.5 percent in the fiscal year 2021-22 (FY22) against the preceding fiscal year.
According to the recent data released by the Pakistan Bureau of Statistics (PBS), these exports were recorded at $19.35 billion during July-June (2021-22) as compared to the exports of $15.40 billion in July-June (2020-21), showing an increase of 25.5 percent.
Commodities that played a major part in trade growth included cotton cloth, the exports of which surged by 26.9percent to $ 2,437.9 million during FY22 against the exports of $1,921 million in FY21.
Cotton also witnessed growth in trade which rose by 18.67percent from $1,016.9 million to $1,206.8 million and raw cotton which increased by 714.9 percent from a 0.807 million to $6.6 million.
Similarly, the exports of carded cotton grew by 2,450 percent from $0.06 million to $1.632 million, and yarn except for cotton yarn by 98.4 percent, from $33.4 million to $66.2 million while the exports of knitwear rose by 34.23 percent, from $ 3,815 million to $5,120.973 million.
The exports of bed wear showed an increase of 18.8 percent from $2,771.786 million to $3,292.9 million, tents, canvas and tarpaulin by 0.02 percent from $110.389 million to $110.4million, towels by 18.5 percent from $937.5 million to $1,111.3 million, readymade garments grew by 28.75 percent from $3,032.8 million to $ 3,904.7 million, silk, art, and synthetic textile by 24.2 percent from $370.4 million to $460.1 million, made up articles other than towels and bead wear by 12.2 percent from $756.4 million to $849.1 million while the exports of all other export materials grew by 20.4 percent from $632.5 million to $761.4 million.
Moreover, on a year-on-year (YoY) basis, textile exports surged by 2.86 percent by increasing from $761.5 million in June 2021 to $1,706.3 million in June 2022.
On a month-on-month (MoM) basis, however, textile exports from the country decreased by 3.93 percent in June 2022 against the exports of $1,641.9 million registered in May, the data revealed.
The PBS also reported that exports from the country witnessed a rise of 25.5 percent during FY22 against the same period of last year.
Exports from the country were recorded at $31.8 billion during FY22 as compared to the exports of $25.304 billion recorded during FY21, a growth of 25.5 percent.
However, imports during the year under review also increased by 41.93 percent rising from $56.4 billion in FY21 to $80 billion in FY22.