ISLAMABAD - Textile’s exports tumbled by 3.85 percent during July 2016 as compared to the corresponding month of the previous year.

Pakistan exported textile products worth $982.6 million during the first month of the ongoing financial year as compared to $1.02 billion in the same month of the last year, says the latest data released by Pakistan Bureau of Statistics (PBS) on Monday.

The country’s exports have been continuously dropping for the last one-and-a-half years. The government, in the budget 2016-17, had announced a package to boost exports by announcing zero-rated facility for five export-oriented sectors and also refunds for the exporters. However, this failed to increase exports in July 2016.

Pakistan’s overall exports came down by 6.86 percent to $1.48 billion in July 2016 from $1.59 billion in July 2015. The fresh data of PBS shows that exports in major sectors like food, textile, petroleum, coal and leather recorded negative growth during the period under review.

The break-up of textile’s exports shows that export of cotton yarn declined to $102.6 million from $119.6 million, showing a decrease of 14.21 percent; cotton cloth export came down to $155.7 million from $168.7 million, representing 7.75 percent fall.

However, there was no export of cotton carded during July this year. Meanwhile, yarn’s export (cotton yarn excluded) registered a minor decline of 0.61 percent to $1.64 million; knitwear export during the period under review dropped down to $205 million from $216 million. Similarly, exports of towels, tents, canvas & tarpaulin and readymade garments also recorded a drop during July.

According to the data, exports of bed wear showed growth of 5.64 percent to reach at $167.7 million from $158.7 million; exports of art, silk & synthetic textile also witnessed growth of 4.68 percent, and made-up articles (excluding towels bed-wear) also showed growth of 5.22 percent.

Meanwhile, exports in food sector reduced by 15.36 percent to $185.3 million during July 2016. When looked separately, it was revealed that following food commodities’ exports recorded negative growth: rice by 7.92 percent; vegetables by 28.31 percent; tobacco by 91.44 percent; sugar down by 100 percent, while meat and its products exports dipped by 18.47 percent during the period under review.

However, exports of the following food commodities showed increase, including fruits by 28.31 percent, wheat by 100 percent, oil seeds, nuts and kernels all by 67.37 percent. Meanwhile, the exports of petroleum and coal products decreased by 79.30 percent; manufacturing products by 5.11 percent, while the exports of leather products dropped by 19.16 percent during July.

The PBS figures also show that country’s imports kept increasing despite massive decline in oil import bill. The country spent $3.56 billion on imports during the period under review as against $3.35 billion in the same month last year, showing an increase of 6.24 percent.

The break-up of import bill shows that Pakistan spent $755 million on importing oil in July, which is slightly lower than $767.9 million spent in the corresponding month of the previous year.

However, imports of food items increased by 11.39 percent in July 2016, and were recorded at $373.5 million as against $335.3 million in July 2015.