Textile exports increase 2.95 to $470.584m

Cutlery exports jump 18pc to $23m in 1Q

Textile exports from the country during first quarter of current financial year grew by 2.95% as compared the exports of the corresponding period of last year.

During the period from July-September 2019, textile worth $3,371,974 million was exported as compared to the exports of $3,275,303 million of same period of last year.

According the data released by the Pakistan Bureau of Statistics, the exports of raw cotton increased by 53.65%, about 6,980 metric tons of raw cotton valuing $10,828 million exported as compared to the 4,619 metric tons worth $7,047 million of same period of last year.

Meanwhile, 3,778 metric tons of yarn other than cotton yarn worth $9,462 million were also exported in first quarter of current financial year as compared to the exports of 2,457 metric tons valuing $7,759 million of same period of last year.

During the period under review, knitwear exports of the country also recorded positive growth of 11.14%. Knitwear worth $779,548 million was exported as compared to the exports of $701,393 million of same period of last year.

The cutlery exports of the country witnessed an increase of 18.66 percent during the first quarter of current financial year (2019-20) as compared to the corresponding period of last year (2018-19).

Pakistan exported cutlery worth $23.829 million during July-September (2019-20) against the exports of $20.082 million during July-September (2018-19), showing growth of 18.66 percent, according to the Pakistan Bureau of Statistics (PBS).

On year-on-year basis, the cutlery exports from the country during September 2019 increased by 12.92 percent when compared to the same month of the last year.

The cutlery exports during September 2019 were recorded at $6.973 million against the export of $6.175 million in September 2018.

Meanwhile, on month-onmonth basis, the cutlery export in September 2019, however witnessed decline of 14.56 percent when compared to the export of $8.161 million in August 2019.

It is pertinent to mention here that the country's merchandise trade deficit plunged by 34.85 percent during the first three months of the current fiscal year (2019-20) as compared to the deficit of the same month of last year.

The trade deficit during July-September (2019-20) was recorded at $5.727 billion against the deficit of $8.791 billion during July-September (2018-19).

The exports increased from $5.374 billion during last year to $5.522 billion during the current fiscal year, showing growth of 2.75 percent.

On the other hand, the imports into the country witnessed declined of 20.6 percent by falling from $14.165 billion last year to $11.249 billion during the current fiscal year, the data revealed.