Pakistan’s exports of textile and clothing sectors posted nearly 19 percent growth in the 11 months of current fiscal year (11MFY21) compared to the same period a year ago, data released by the Pakistan Bureau of Statistics showed on June 19th.

Total exports of textile and clothing were up 18.85pc to USD 13.748 billion between July and May this year against USD 11.567bn over the corresponding period in FY20.

 

On a monthly basis, export proceeds posted a growth of 41.14pc on a year-on-year basis to USD 1.06bn in May 2021.

 

Exports of ready-made garments were up by 14.35pc to USD 2.706bn in 11MFY21 against USD 2.367bn over the corresponding months of last year. Knitwear exports were up 32.70pc to USD 3.414bn against USD 2.572bn over the corresponding months of last year. Exports of bedwear increased by 24.60pc to USD 2.472bn this year against 1.984bn in FY20.

 

Similarly, in the value-added leather sector, exports of leather garments up by 9.92pc, leather gloves 19.08pc respectively. Exports of raw leather declined by over 17pc during these months.

 

In the non-value-added sector, exports of cotton cloth posted a paltry growth of 0.97pc in 11MFY21 from a year ago. Similarly, exports of cotton yarn declined by 1.60pc and raw cotton 96.51pc. It clearly indicates that these raw materials were consumed mostly by the value-added sector as the government allowed duty-free import of these products.

 

Exports of cotton carded were up by 3.17pc and yarn other than cotton yarn by 20.24pc during the period under review.

 

Source: profit.pakistantoday.com