ISLAMABAD - The exports of textile commodities increased by 0.67 percent during the first month of the current fiscal year as compared to the corresponding month of last year.

The textile exports were recorded at $1,481.021 million in July 2022 against the exports of $1,471.185 million in July 2021, showing growth of 0.67 percent, according to the latest data released by Pakistan Bureau of Statistics (PBS) on Tuesday. The textile commodities that contributed in trade growth included cotton cloth the exports of which increased by 1.42 percent to $181.984 million during the July 2022 as compared to the exports of $179.443 million last July year. The other commodities that witnessed growth in trade included raw cotton year, the exports of which grew by 100 percent to $1.094 million and yarn other than cotton yarn by 17.78 percent, from $2.863 million to $3.372 million.

Likewise, the exports knitwear increased by 10.75, from $.392.711 million to $434.926 million, tents, canvas and tarpaulin by 32.10 percent, from $6.613 million to $8.736 million, readymade garments by 1.14 percent, from $301.153 million to $304.575 million and other textile materials by 4.45 percent, from $57.516 million to $60.076 million. The textile commodities that witnessed negative growth in trade included cotton yarn, the exports of which declined by 20.59 percent, from $89.871 million to $71.364 million.

The exports of bedwear also went down by 3.35 percent from $263.345 million to $253.991 million, towels by 3.67 percent, from $77.818 million to $74.965 million, art, silk and synthetic textile by 3.54 percent, from $32.360 million to $31.216 million whereas the exports of made up article (excluding towels and bedwear) decreased by 18.45 percent from $67.104 million to $54.722 million. Meanwhile, on month-on-month basis the textile exports from the country declined by 13.21 percent during the month of July 2022 as compared to the exports of $1706.350 million recorded in June 2022, the PBS data revealed.

It is pertinent to mention here that the country’s overall merchandise exports declined by 5.17 percent in July 2022 as compared to exports of July 2021. The exports during the month were recorded at US$2,219 million against the exports of US$2,340 million in last July. The imports also declined by 12.81 percent to US$4,861 million in July 2022 compared to exports of US$5,575 million in July 2021. Based on the figures, the merchandize trade deficit declined by 18.33 percent by going down form the deficit of US$3,235 million last July to US$2,642 million in July 2022, according to PBS data.