Jul-Nov textile group exports up 28.41pc YoY

ISLAMABAD: The country’s textile group exports witnessed 28.41 percent growth during the first five months (July-November) of the current fiscal year and remained $7.758 billion compared to $6.041 billion during the same period of the last fiscal year, says the Pakistan Bureau of Statistics (PBS).

The exports and imports data released by the PBS revealed that textile group exports on month-on-month basis witnessed 8.45 percent growth and remained $1.736 billion in November 2021 compared to $1.6 billion in October 2021.

On year-on-year basis, textile group exports witnessed 35.33 percent growth in November 2021, when compared to $1.282 billion in November 2020.

Cotton yarn exports registered a growth of 65.45 percent during July-November 2021 and remained at $503.897 million compared to $304.553 million during the same period of last year and increased by 47.03 percent in November 2021 and remained $109.133 million when compared to $74.224 million during the same month of last year.

Raw cotton exports witnessed 100 percent decline on month-on-month basis as well as on year-on-year basis.

Textile group exports witness 26.55pc growth in 4 months

Petroleum group imports witnessed an increase of 112.33 percent as it reached $8.379 billion in July-November 2021 compared to $3.946 billion during the same period of the last fiscal year and registered 36.04 percent growth in November 2021 and remained $2.182 billion when compared to $1.604 billion in October 2021.

On year-on-year basis, petroleum group imports registered 180.55 percent growth when compared to $777.977 million during the same month of 2020.

Construction and mining machinery imports have witnessed growth of 42.32 percent during July-November and remained at $67.43 million compared to $47.37 million during July-November 2021.

The construction and mining machinery registered 99.10 percent growth on year-on-year basis and remained $16.963 million in November 2021 compared to $8.520 million in November 2020; however, it registered 43.24 percent on month-on-month basis when compared to $11.842 million in October 2021.

The country’s exports during July-November, 2021totaled $12.364 billion (provisional) against $9.744 billion during the corresponding period of last year showing an increase of 26.89 percent.

The country’s exports in November, 2021 were $2.903 billion (provisional) as compared to $2.464 billion (provisional) in October, 2021 showing an increase of 17.82 percent and by 33.72 percent as compared to $2.171 billion in November 2020.

The country’s imports during July–November, 2021 totalled $33.012 billion (provisional) as against $19.468 billion during the corresponding period of last year showing an increase of 69.57 percent.

The imports in s in November, 2021 were $7.928 billion (provisional) as compared to $6.369 billion (provisional) in October, 2021 showing an increase of 24.48 percent and by 84.72 percent as compared to $4.292 billion in November, 2020.

The country’s trade deficit widened by 112.34 percent from $9.724 billion in July-November 2020 to $20.648 billion in July-November 2021, and widened by 136.92 percent in November 2021, and remained $5.025 billion compared to $2.12 billion in November 2020.

Main commodities of exports during exports during November, 2021 were knitwear (Rs79,221 million), readymade garments (Rs56,877 million), bed wear (Rs54,516 million), cotton cloth (Rs35,444 million), rice others (Rs29,203 million), cotton yarn (Rs18,883 million), towels (Rs18,217 million), made-up articles (excl towels and bedwear) (Rs14,560 million), rice basmati (Rs10,872 million), and fish and fish preparations (Rs9,364 million).

Main commodities of imports during November 2021 were petroleum products (Rs218,224 million), medicinal products (Rs119,194 million), petroleum crude (Rs75,456 million), natural gas liquefied (Rs72,372 million), palm oil (Rs67,478 million), plastic materials (Rs51,515 million), iron and steel (Rs48,005 million), iron and steel scrap (Rs47,603 million), mobile phone (Rs36,691 million), and electrical machinery and apparatus (Rs32,400 million).

Copyright Business Recorder, 2021