Textile Exports Witness An Increase of 3.12% in July 2019

The textile exports of the country increased by 3.12% in July 2019 to $1.226 billion as compared to $1.189 billion in the same period last year, State Bank of Pakistan reported on Wednesday.

The textile items which showed growth during the period included raw cotton. Its export increased by 99% to $1.8 million in July this year as compared to $918,000 in the same month last year.

Similarly, exports of knitwear inched up from $249.453 million in July last year to $262.453 million, whereas exports of bed textiles also witnessed an increase of 6.7% rising to $207.7 million from $194.6 million last year.

Moreover, towel exports also rose from $58.6 million last year to $60.4 million in July 2019, while ready-made garment exports 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 material exports went to $57.634 million from $44.4 million.

The textile items, which witnessed a decline during the period under review included cotton yarn, which declined to $111.1 million from $121.18 million. Similarly, exports of cotton clothes also went down to $197.7 million in the first month of the current fiscal year compared to $198.5 million in the same month last fiscal year.

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

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

While imports of goods and services 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%