Textile Group Exports Report a Major Decline in May 2021

The country’s textile group exports have witnessed a decline of 20.45 percent in May 2021, standing at $1.060 billion compared to $1.332 billion during April 2021, according to the Pakistan Bureau of Statistics (PBS). The exports and imports data released by the PBS revealed that the textile group exports registered an increase of 41.14 percent on a year-on-year basis as it reached $1.060 billion in May 2021 compared to $751.124 million in May 2020.

The country’s textile group exports have witnessed 18.85 percent growth during the first eleven months (July-May) 2020-21 and remained at $13.748 billion compared to $11.567 billion during the same period of last year. Raw cotton exports registered a 96.51 percent decline during July-May 2020-21 and remained at $0.593 million compared to $17.002 million during the same period of last year. Raw cotton exports remained zero during May 2021 and were also zero in April 2021.

Cotton yarn exports registered a 1.60 percent decline during July-May 2020-21 and remained at $896.034 million compared to $910.577 million during the same period of last year. Cotton yarn exports declined by 29.84 percent during May 2021 and remained at $72.084 million compared to $102.736 million during April 2021 and increased by 38.63 percent when compared to $51.997 million during the same month of last year.

Petroleum group imports witnessed a decline of 0.76 percent as they reached $9.882 billion during July-May 2020-21 compared to $9.807 billion during the same period of last year. Petroleum group imports witnessed an increase of 262.46 percent as it reached $1.184 billion in May 2021 compared to $326.75 million during May 2020 and registered 3.54 percent growth when compared to $1.143 billion in April 2021.

Construction machinery imports have witnessed a massive decline of 31.12 percent during July-May 2020-21 and remained at $125.122 million compared to $181.65 million during the same period of last year. The country’s exports during July – May 2020 – 2021 totaled $ 22.576 billion (provisional) against $ 19.795 billion during the corresponding period of last year showing an increase of 14.05 percent. The exports in exports in May 2021 were $1.671 billion (provisional) as compared to $ 2.218 billion (provisional) in April 2021 showing a decrease of 24.66 percent but increased by 19.70 percent as compared to $1.396 billion in May 2020.

The country’s imports during July – May 2020 – 2021 totaled $ 50.039 billion (provisional) as against $ 40.849 billion during the corresponding period of last year showing an increase of 22.50 percent. The imports in May 2021 were $ 5.308 billion (provisional) as compared to $5.242 billion (provisional) in April 2021 showing an increase of 1.26 percent and by 85.79 percent as compared to $2.857 billion in May 2020.

The country’s trade deficit widened by 30.44 percent to $27.463 billion during July-May 2020-21 compared to $21.054 billion during the same period (July-May) of 2019-20.

Main commodities of exports during May, 2021 were Knitwear (Rs. 44,936 million), Readymade garments (Rs. 29,864 million), Bed wear (Rs. 27,746 million), Cotton cloth (Rs. 20,641 million), Cotton Yarn (Rs. 11,050 million), Rice others (Rs. 10,001 million), Towels (Rs.9,473 million), Made up articles (excl. towels & bedwear) (Rs.7,460 million), Basmati rice (Rs. 6,264 million) and Fish & fish preparations (Rs. 4,766 million).Main commodities of imports during May, 2021 were Petroleum products (Rs. 86,724 million), Petroleum crude (Rs.48,626 million), Natural gas, liquefied (Rs. 42,396 million), Palm Oil (Rs. 39,108 million), Plastic Materials (Rs. 33,563 million), Iron & Steel (Rs. 33,219 million), Electrical machinery & apparatus (Rs.29,707 million), Mobile phones (Rs. 26,903 million), Medicinal products (Rs. 23,834 million) and Power generating machinery (Rs.22,845 million).



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