The exports of ready-made garments during first four months of current fiscal year grew by 12 percent as compared to the exports of the corresponding period of last year.
During the period from July-October 2019, about 19.54 million dozens of ready made garments worth $906.663 million exported as compared to the exports of 15.119 million dozens valuing $809.520 million of same period of last year.
Meanwhile, the country exported about 40.246 million dozen of knit wear valuing $1.054 billion against the exports of 37.790 million dozen worth of US $ 962.862 million of same period of last year, which was up by 9.49 percent, according the data of Pakistan Bureau of Statistics.
During the period under review, 172,547 metric tons of bed wears worth $817.665 million also exported as compared to the exports of 144,574 metric tons valuing US $ 773.447 million of same period of last year. The exports of above mentioned product witnessed 5.72 per cent growth in first four months of current financial year.
In first four months of current financial year, about 58,030 metric tons of towels worth $251.647 million exported as compared to the exports of 60,041 metric tons valuing US $ 249.651 million of same period of last year, it added.
According the data, textile group exports during first four months (July-October) of current financial year witnessed an increase of 4.10% as compared to the exports of the corresponding period of last year, where as textile sector exports witnessed about 7.44% growth in month of October, as against the exports of same month of last year.
During the period from July-October, 2019, textile products worth over US $ 4.586 billion exported as against the exports of US $ 4.406 billion of same period of last year, showing an increase of 4.10 percent, it said.
On month on month basis, the textile products over US $ 1.214 billion exported in month of October, as compared to the exports of US $ 1.130 billion of same month of the last year.
The exports of raw cotton during the period under review increased by 0.78 per cent, cotton carded or combed 100 per cent and yarn other then cotton yarn grew by 21.24 per cent respectively, the data revealed.
However, in last four months of current financial year, the exports of textile products observed decline in their respective exports included cotton yarn decreased by 2.14 per cent, cotton cloth 4.83 per cent, tents, canvas and tarpulin by 1.58 per cent, it said.
However, exports of raw cotton came down from US $ 392.948 million in first four months of last financial year to US $ 384.553 million in same period of current financial year. It may be recalled here that country's merchandise trade deficit plunged by 33.52 percent during the first four months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.
According to the data the trade deficit during July-October 2019 was recorded at US $ 7.776 billion against the deficit of US $ 11.696 billion during July-October (2018-19). The exports during the period increased from US $ 7.270 billion during last year to US $ 7.547 billion during the current fiscal year, showing growth of 3.81 percent.
On the other hand, the imports of the country witnessed decline of 19.21 percent by falling from US $ 18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed. On yearly basis the export of the country increased by 6.75 percent by growing from US $ 1.896 billion during October 2018 to US $ 2.024 billion in October 2019. On the other hand, the imports declined by 15.14 percent by going down from US $ 4.801 billion in October 2018 to $4.074billion in October 2019.
On month-on-month basis, the exports of the country increased by 14.41 percent in October 2019 when compared to the imports of US $ 1.769 billion in September 2019. On the other hand, the imports into the country witnessed increase of 7.64 percent.