PBS observes a gain in the textile exports


The Pakistan bureau of statistics (PBS) formulated a report which stated that the country has observed a rise in the exports and overall economy of the textile market of Pakistan. The country’s textile group was seen with a gain of 26.55 percent growth in the first four months of the current fiscal year.

The data released by the PBS revealed that a total of 7.65 percent rise in the export ratio of the market was seen which was closed at 1.6 billion dollar in October 2021. The previous value released for this figure was 1.487 billion dollars which was recorded in September 2021. According to the data release in the same month last year, the value for the same figure was 1.288 billion dollars (October 2020).

Cotton industry registered a growth of 71.39 percent. Petroleum and construction industry witnessed an increase of 95.58 percent and 30.08 percent respectively. The construction and mining market experienced an increase of 57.49 percent on year to year bases and remained 11.92 million dollars in 2021.

During October 2021 the exports of main commodities were as follows, knitwear (Rs78,497 million), readymade garments (Rs51,068 million), madeup articles (Rs12,217 million) bed wear (Rs49,425 million), cotton cloth (Rs31,528 million), towels (Rs14,092 million), rice (Rs20,431 million), cotton yarn (Rs18,225 million) , rice basmati (Rs8,987 million), and oil seeds, nuts, and kernals (Rs6,893 million).

The imports of main commodities during October, 2021 were petroleum products (Rs123,455 million), natural gas, liquefied (Rs81,608 million), medicinal products (Rs49,292 million),iron and steel (Rs46,694 million), palm oil (Rs42,257 million), fertiliser manufactured (Rs39,132 million), petroleum crude (Rs62,718 million), plastic materials (Rs35,984 million), iron and steel scrap (Rs35,034 million),and power generating machinery (Rs27,000 million). The total exports of the country for July-October 2021 were recorded as 9.462 billion dollars which were increased by 24.94 percent from last year, whereas the imports showed an increase of 65 percent closing at 25.1 billion dollars.