Textile exports up by 7.91pc in first quarter

ISLAMABAD – Pakistan’s textile exports went up by 7.91 percent during first quarter (July-September) of the current fiscal year.

Pakistan exported textile goods worth $3.3 billion during July-September period of the FY2018 as against $3 billion of the same period of the last year. Handsome growth in textile exports pushed the overall exports to $5.2 billion during July-September of FY2018 from $4.7 billion of the corresponding period of the previous year, according to PBS.

Textile exports had shown increase after a long due to the Prime Minister’s incentives package to boost exports. All Pakistan Textile Mills Association (APTMA) had recently met with Prime Minister Shahid Khaqan Abbasi and asked to formulate a long-term policy on textile exports to attract investment in the sector and boost the sliding exports. “Textile exports can further increase if government approves our recommendations,” said a representative of APTMA while talking to The Nation. He further said that Prime Minister had assured us to consider our recommendations for approval.

The PBS data showed that exports of readymade garments grew 15.97 percent to $608 million in July-September on annual basis. Exports of knitwear posted a growth of 9.35 pc to $647.7 million in July-September of the FY2018. Meanwhile, a rise of over 7.19 pc was noted in bedwear exports that amounted to $567 million.

On the other hand, exports of cotton yarn fell by 3.44pc. Similarly, exports of cotton carded dropped by 100 percent in the first three months of 2017-18.

Meanwhile, exports in food sector increased by 17.52 percent to $742.4 million during July-September of FY2018. When looked separately, it was revealed that following food commodities’ exports recorded negative growth: rice by 31.95 percent; fish 17.64pc, wheat 100pc, oil seeds, nuts and kernals 60.67pc, sugar 100pc and all other food products by 6.11 percent.

Meanwhile, exports of fruits declined by 24.37 percent, vegetables 0.99pc, tobacco 18.86pc, spices 9.81pc and meat and meat preparations 15.6 percent during July-September.

According to the PBS, the exports of petroleum and coal products increased by 100 percent; manufacturing products by 8.39 percent, while the exports of leather products enhanced by 3.95 percent during July-September of the current financial year.


Source: www.nation.com.pk

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