ISLAMABAD: The textile exports from the country increased by 6 percent, mainly due to growth in value-added products, during July to May 2014 of the fiscal year 2013-14, compared to the exports of the same period of last year.
The overall exports from the country during July-May 2013-14 were recorded at $12.626 billion against the exports of $11.916 billion during July-May 2012-13, according to the latest data of Pakistan Bureau of Statistics (PBS).
The products that contributed in positive growth of textile trade included raw cotton, exports of which grew by 38.84 percent by surging from $146.724 million last year to $203.709 million in 2013-14.
The exports of cotton cloth increased from $2,466.739 million to $2,576.765 million, showing an increase of 4.46 percent while the exports of cotton (carded or combed) increased from $6.086 million to $6.260 million, an increase of 2.86 percent.
The exports of yearn other than cotton yarn increased by 11.87 percent by going up from $35.267 million to $39.453 million while exports of knitwear increased by 11.35 percent by going up from $1,843.260 million to $2,052.400 million.
Bedwear exports from the country were recorded at $1,958.635 million in 2013-14 compared to $1,632.316 million during last year, showing a positive growth of 20 percent whereas the exports of readymade garments were recorded at $1,768.984 million compared to $1,640.180 million, an increase of 7.85 percent.
The exports of madeup articles (excluding towels) increase by 12.39 percent by growing from $545.695 million last year to $613.289 million during 2013-14.
The textile products that witnessed negative growth in trade included cotton yarn, exports of which decreased by 9.91 percent, from $2,061.091 million last year to $1,856.824 million in 2013-14.
Similarly, the exports of towels decreased from $713.756 million to $699.882 million, showing negative growth of 1.94 percent whereas the exports of tents, canvas and tarpaulin decreased by 26.41 percent by falling from $104.429 million to $76.848 million.
Exports of art, silk and synthetic textile during 2013-14 were recorded at $348.395 million compared to $369.170 in 2012-13, showing decrease of 5.63 percent. However, the exports of all other textile products increased by 20.74 percent during the first eleven months of the FY2013-14 as these grew from $351.910 million last year to $424.883 million.
Meanwhile, on year-on-year basis, the textile exports increased by 1.99 percent as these grew from $1.176 billion in May 2013 to $1.200 billion in May 2014.
On month-on-month basis, the textile exports in May 2014 increased by 13.78 percent compared to the exports of $1.054 billion in April 2014, the PBS data revealed.
The country’s overall trade deficit narrowed by 5.66 percent during first 11 months of current fiscal year as exports expanded by 3.71 percent while imports witnessing negative growth of 0.57 percent as compared to the same period of last year.
On year-on-year basis, the trade deficit witnessed sharp decrease by 27.60 percent in May 2014 when compared to the deficit of the same month of last year.
According to break up figures, the exports from the country during July-May 2013-14 were recorded at $23.112 billion against the exports of $22.286 billion recorded during July-May 2012-13.
The imports into the country during the period under review were recorded at $40.777 billion against the imports of $41.011 billion during the corresponding period of last year.
ISLAMABAD: Since the 1980s when the “new” free market economics kicked in, there has ...