ISLAMABAD: The country’s textile group exports witnessed a growth of 4.18 percent during the first two months (July-August) of the current fiscal year 2022-23 and remained at $3.056 billion as compared to $2.933 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.
The data of exports and imports released by the PBS revealed that the country’s textile group exports witnessed a growth of 7.71 percent in August 2022 on a year-on-year basis and remained at $1.575 billion when compared to $1.462 billion during the same month of last year. On a month-on-month (MoM) basis textile group registered 6.37 per cent growth compared to $1.481 billion in July 2022.
Raw cotton exports registered 100 per cent growth in July-August 2022-23 on MoM as well as on a YoY basis. Cotton yarn exports registered 17.03 per cent negative growth in July-August and remained $$35.339 million compared to $193.389 million during the same period of the last year. On a year-on-year basis cotton yarn exports registered 13.94 per cent negative growth while on MoM basis it registered 24.84 per cent growth.
The country’s total exports during July–August 2022 stood at $4.737 billion (provisional) against $4.587 billion during the corresponding period of last year showing an increase of 3.27 per cent. The exports in August 2022 were $2.482 billion (provisional) as compared to $2.254 billion in July 2022 showing an increase of 10.12 per cent and by 10.46 per cent as compared to $2.247 million in August 2021.
Main commodities of exports during August, 2022 were knitwear (Rs99,362 million), readymade garments (Rs72,897 million), bed wear (Rs57,055 million), cotton cloth (Rs43,159 million), rice others (Rs22,569 million), cotton Yarn (Rs19,679 million), towels (Rs16,574 million), made-up articles (excl towels and bedwear) (Rs13,355 million), petroleum crude (Rs12,056 million), and rice basmati (Rs9,179 million).
Petroleum group imports witnessed a growth of 6.97 per cent during the first two months (July-August) of the current fiscal year 2022-23 and remained $3.302 billion compared to $3.087 billion during the same period of last fiscal year. Petroleum group import registered 29.93 per cent growth on a MoM basis in August 2022 and remained $1.865 billion compared to $1.436 billion in July and registered 6.1 per cent growth on a YoY basis when compared to $1.756 billion in August 2021.
Petroleum products witnessed 7.75 per cent growth during the first two months of current fiscal year and remained $1.658 billion compared to 1.539 billion during the same period of last fiscal year.
On MoM basis it remained $930.566 million in August 2022 compared to $728.081 million in July 202. On YoY basis, petroleum products imports witnessed a growth of 4.33 per cent when compared to $891.951 million in August 2021.
Petroleum crude imports witnessed a growth of 10.46 per cent during the first two months of current fiscal year 2022-23 and remained $904.522 million when compared to $818.884 million during the same period of last year. On MoM basis, petroleum crude imports registered 9.82 per cent growth and remained $473.419 million compared to $431.103 million in July 2022. On YoY basis, petroleum crude imports witnessed a growth of 7 per cent when compared to $442.468 million in August 2021.
Natural gas, liquefied imports witnessed a negative growth of 3.37 per cent during the first two months of the current fiscal year and remained at $629.453 million compared to $651.413 million during the same period of last fiscal year.
Agricultural and other chemicals group imports witnessed 23.03 per cent negative growth during the first two months of the current fiscal year and remained at $1.702 billion compared to $2.213 billion during the same period of last fiscal year.
Total imports of the country during July–August 2022 totaled $ 11.064 billion (provisional) as against $ 12.152 billion during the corresponding period of last year showing a decrease of 8.95 per cent. The imports in August 2022 were $ 6.071 billion (provisional) as compared to $ 4.993 billion in July 2022 showing an increase of 21.59 per cent but decreased by 7.69 per cent as compared to $ 6.577 billion in August 2021.
Main commodities of imports during August, 2022 were Petroleum products (Rs205,549 million), petroleum crude (Rs104,572 million), palm oil (Rs92,096 million), natural gas, liquefied (Rs88,118 million), plastic materials (Rs46,649 million), wheat unmilled (Rs44,977 million), electrical machinery and apparatus (Rs43,114 million),iron and steel scrap (Rs34,396 million), raw cotton (Rs32,916 million), and iron and steel (Rs32,617 million).
Pakistan’s trade deficit narrowed by 17.13 per cent during the first two months (July-August) of the current fiscal year and stood at $6.327 billion compared to $7.565 billion during the same period of last fiscal year. Trade deficit widened by 28.89 per cent on a month-on-month basis to $3.53 billion in August 2022 when compared to $2.739 billion in July 2022.
Copyright Business Recorder, 2022
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