Textile, clothing exports post remarkable growth in April

Pakistan’s exports of textile and outfits rebounded in April due mainly to value-added sectors and posted a good robust growth of 231.17 % from this past year, data published by the Pakistan Bureau of Statistics (PBS) showed.

The export value of these sectors edged up to $1.337 billion in April from $403.833 million over the corresponding month of this past year. Progress in exports of value-added sectors contributed to a rise in total exports from the sectors.

The highest growth in exports in April is because of low-base of this past year when export-oriented industries remained closed due to the Covid-19 lockdown and cancellation of orders from international buyers. Because of this low base, growth was reflected in value-added and non-benefit added textile products.

The July-April (10MFY21) numbers showed that expansion in textile and clothes exports originated from the value-added sector. The worthiness of exports reached $12.692bn in 10MFY21 due to against $10.816bn over the corresponding a few months of this past year, showing a rise of 17.35pc.

To address the problem of shortage of cotton yarn for the value-added sector, the Economic Coordination Committee found in its last conference allowed duty-no cost import of cotton yarn until June 30, 2021. It'll be difficult for the value-added sector to wthhold the orders in case government will not facilitate timely option of cotton yarn in the domestic industry.

Product-wise facts reveal exports of ready-made garments up by 12.56pc in worth, accompanied by knitwear 30.69laptop or computer, bedwear 24.66pc and towels 27.18pc during 10MFY21. Pakistan and China’s clothes exports posted a substantial growth to USA compared to regional countries in the past few months.

The government has recently abolished duty and taxes on professional recycleables and is paying down pending refunds to exporters. The devaluation of the rupee and lower interest accelerated industrial growth, specifically in the export-oriented industries.

According to the PBS data, the export of cotton yarn submitted growth of 164laptop or computer in April from a year ago. Even so, export of cotton yarn submitted a poor growth 4.03pc in 10MFY21.

The exports of cotton cloth revived and published a rise of 200.44pc found in April from a year ago. In 10MFY21, growth is still in negative of 1 1.24personal computer. The export of cotton carded submitted a growth of 3.17pc in 10MFY21. The export of yarn other than cotton yarn as well recorded a rise of 22.42pc during the months under review.

In the non-value-added sectors, exports of tents and canvas were up 21.86pc followed by fine art and silk which increased by 10.52pc, made-up content articles excluding towels and bedwear were up 22.22pc and other textile goods saw an increase of 39.24pc through the 10-months under review.

Between July and April, the entire exports reached $20.905bn as against $18.398bn over the corresponding weeks of last year, indicating a growth of 13.63pc.

In the 10 months of this fiscal year, the import of textile machinery articles a growth of 13.9pc. This means that that the sector has began importing textile machinery within modernisation or expansion in the sector.

To bridge the shortfall in the domestic sector, sector imported 709,020 tonnes of natural cotton between July to April against 409,306 tonnes this past year, showing a rise of 73.22pc. In the same way, the import of artificial fibre posted expansion of 49.80pc as industry imported 381,928 tonnes this season as against 254,951 tonnes this past year.

The import of synthetic and artificial silk yarn stood at 351,884 tonnes this season as against 224,197 tonnes last year, showing a rise of 56.95laptop or computer. The import of worn clothing documented a rise of 61.52pc to 551,621 tonnes this year as against 341,522 tonnes this past year.