Textile and clothes exports of Pakistan increased by22.94 percent in the outgoing monetary year in comparison with the previous year.
The overall exports of textile and clothes had been $15.4 billion in 2020-21 compared to $12.526bn in the previous year, according to the recent data by the Pakistan Bureau of Statistics.
The export growth was fueled by the expansion in exports of value-added sectors. In addition, in last FY, export-oriented industries remained closed because of the Covid-19 lockdown and cancellation of orders from global buyers, which also contributed in the steep rise of exports.
The exports of readymade garment (RMG) went up by 18.83% to $3.032bn in FY21 in comparison to $2.552bn in the previous year. The exports of grew by 36.57% to $3.816bn in comparison to $2.794bn in the previous year. Exports of home textile went up by 28.87% to $2.771bn this year in comparison to $2.150bn in the previous year.
Export of towels grew by 31.81% to 937.536mn in FY21 in comparison to $711.265mn in the previous year.
While, the export of leather-based clothes was up by 14.02% and leather-based gloves by 22.26%. The exports of uncooked leather-based declined by over 12.04%.
The cotton material export posted a development of 4.98% in FY21 to $1.921bn, whereas the export of cotton yarn went up by 3.26% to $1.016bn on a year on year foundation. The export of uncooked cotton dropped by 95.27% this year over the past year.
It shows that these uncooked supplies had been consumed most within the value-added sector as the federal government has also allowed duty-free import of those merchandise.
The exports of cotton carded had been up by 3.17% and yarn aside from cotton yarn by 29.62%.
The exports of tents, canvas and tarpaulin went up by 12.10%, artwork, silk and artificial textile by 17.68% and made up articles, excluding towels and mattress put on, by 28.08%.
Within the price range 2021-22, a number of measures, together with discount in obligation on uncooked supplies to advertise exports of pharmaceutical, plastic, chemical substances, engineering, and value-added textile merchandise, had been proposed.
Between July 1 final year and June 30 this year, the general exports reached $25.304bn as in opposition to $21.393bn over the corresponding months of final year, indicating a development of 18.28%.
The import of textile equipment increased by 35.35% to $592.076mn on a year on year term. This means that the trade has begun importing textile equipment as a part of modernization or expansion within the sector.
The trade imported 857,373 tons of uncooked cotton in outgoing year in opposition to 536,707 tons final year, exhibiting a rise of 59.75%, to bridge the shortfall within the home sector.
Equally, the import of artificial fiber grew by 52.69% as trade imported 447,351 tons this year as in opposition to 292,972 tons of earlier year.
The import of artificial and synthetic silk yarn stood at 392,092 tons this year as in opposition to 248,834 tons final year, exhibiting a rise of 57.57%. The import of worn clothes recorded a development of 89.64% to 732,623 tons this year as in opposition to 386,320 tons of earlier year.