ISLAMABAD: Textile and garment exports climbed by 25.96 percent year on year to $15.98 billion in the first ten months of the current fiscal year, owing to a significant depreciation of the rupee and a consistent rise in global demand.
On Saturday, the Pakistan Bureau of Statistics (PBS) released data showing that textile and garment exports climbed by 30.50 percent year-on-year in April.
Ready-made garment exports climbed by 27.95 percent in value and 41.09 percent in quantity from July 1 to April 20, 2021, while knitwear exports increased by 35.14 percent in value but declined by 2.64 percent in quantity. Bedwear exports climbed by 19.01 percent in value and 13.43 percent in volume.
Towel exports climbed by 19.46 percent in both value and quantity, while cotton cloth exports increased by 26.81 percent in both value and quantity.
Cotton yarn exports surged by 22.11 percent, while yarn made from other materials increased by 100 percent. Exports of made-up items (excluding towels) climbed by 13.08 percent during the study period, while those of tents, canvas, and tarpaulin declined by 4.62 percent. Art, silk, and synthetic textile exports increased by 27.73 percent over the months under consideration.
Textile machinery imports grew 56.38 percent year on year to $678.452 million from July to April, showing that the textile industry is growing or upgrading.
To compensate for the local market gap, the sector imported raw cotton, the value of which climbed by 19.15 percent from July to April, while synthetic fibre imports increased by 25.92 percent and synthetic silk yarn imports increased by 27.15 percent.
In the first 10 months of the current fiscal year, used clothes imports climbed by 59.61 percent year on year.
Overall exports in the country climbed by roughly 25.56 percent year on year to $26.24 billion, up from $20.90 billion at the same time previous year.
