Textile industry back in business

Textile exports increase by 22.94 percent during fiscal year 2020-21

The textile sector has been witnessing considerable increase in terms of export volumes for the past two years. According to the data shared by Pakistan Bureau of Statistics (PBS) during the last financial year i.e. 2020-21 the textiles export volume remained $15.4 billion as compared to $12.526 billion during 2019-20.

If we look at the data on a month on month basis it indicated a whopping 57.81 percent increased for the month of June 2021 where it showed exports worth $1.660 billion as compared to $1.051 billion in May 2021.

Cotton yarn exports registered 3.26 percent growth during July-June 2020-21 and remained at $1.016 billion compared to $984 million during the same period of last year.

Cotton yarn exports increased by 67.76 percent during June 2021 and remained at $120.931 million compared to $72.087 million during May 2021 and increased by 62.71 percent when compared to $74.323 million during the same month of last year.

Interestingly the exports of raw cotton have seen a substantial decline in the last year coming down to zero for the month of May and June 2021.

According to the data shared by PBS  the main commodities of exports during June 2021 were knitwear Rs64,187 million, readymade garments Rs50,895 million, bed wear Rs46,694 million, cotton cloth Rs31,980 million, cotton yarn Rs18,885 million, rice others Rs18,190 million, towels Rs15,465 million, madeup articles (excl towels and bedwear) Rs12,342 million.

Main commodities of imports during June 2021 were petroleum products Rs113,787 million, petroleum crude Rs59,761 million, power generating machinery Rs50,794 million, natural gas, liquefied Rs49,083 million, palm oil Rs42,366 million, medicinal products Rs38,121 million, electrical machinery and apparatus Rs34,669 million, plastic materials Rs33,851 million, mobile phones Rs31,963 million, and fertiliser manufactured Rs27,767 million.