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Textile exports fall 15pc in August

muhammadhafeezmalik

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The import of textile machinery dropped by 30.27pc during the second month of FY1 — a sign that no expansion or modernisation projects were taken up by the industry in the given period.

Pakistan’s textile and clothing exports declined by over 15 per cent year-on-year to $1.007 billion in August, compared to $1.19bn in the corresponding month of 2019, data released by the Pakistan Bureau of Statistics showed on Monday.


The export proceeds dipped in the second month of current fiscal year after posting growth in the first month. As a result of Covid-19, the demand for country’s exports has collapsed during the last five months.


It was only in February when the textile and clothing exports jumped nearly 17pc on a yearly basis. This growth was reported after a long time as the past few years had been marred by single-digit increases.


However, in July-August, textile exports edged lower by 0.98pc to $2.28bn, from $2.302bn in same period of previous year.


Details showed ready-made garment exports fell by 13.74pc in value while plunging in quantity by 51.83pc during August. Those of knitwear dropped 10.65pc in value and 27.2pc in quantity, bed wear 12.29pc and 25.52pc, respectively.


Towel exports fell by 10.12pc in value and 15.85pc in quantity, whereas those of cotton cloth dipped 17.91pc and 33.42pc.


The government lifted the ban on exports of seven products classified as personal protective equipment (PPE) in a bid to allow manufacturers to honour international orders.


Among primary commodities, cotton yarn exports plunged by 51.36pc, yarn other than cotton by 100pc, made-up articles — excluding towels —5.82pc and raw cotton 94.4pc. On the other hand, tents, canvas and tarpaulin increased by a massive 34.07pc during the month under review.


The import of textile machinery dropped by 30.27pc during the second month of FY1 — a sign that no expansion or modernisation projects were taken up by the industry in the given period.


The country’s textile and clothing exports tumbled over 6pc year-on-year to $12.526bn in FY21, compared to $13.327bn in the corresponding period of FY20.

An increase of 38.45pc was seen in imports of textile group — raw cotton, synthetic and artificial silk yarn.

 

Salza

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ofcourse because of corona virus...its meaningless to compare current data with last year. Corona changed everything ...though few months back, it was expected exports will get a major hit but thankfully situation hasn't been that bad infact its getting better month by month
 

muhammadhafeezmalik

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ofcourse because of corona virus...its meaningless to compare current data with last year. Corona changed everything ...though few months back, it was expected exports will get a major hit but thankfully situation hasn't been that bad infact its getting better month by month
If we compare it with last month data of this years, things look more bleak.

Textile exports jump 14.4pc in July
 

Salza

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P.S you made a thread based on comparison of 1-2 months data only ..this shows how much ignorant you are.

Trends should be discussed always on quarter by quarter bases minimum.
 
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Patriot forever

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The import of textile machinery dropped by 30.27pc during the second month of FY1 — a sign that no expansion or modernisation projects were taken up by the industry in the given period.

Pakistan’s textile and clothing exports declined by over 15 per cent year-on-year to $1.007 billion in August, compared to $1.19bn in the corresponding month of 2019, data released by the Pakistan Bureau of Statistics showed on Monday.


The export proceeds dipped in the second month of current fiscal year after posting growth in the first month. As a result of Covid-19, the demand for country’s exports has collapsed during the last five months.


It was only in February when the textile and clothing exports jumped nearly 17pc on a yearly basis. This growth was reported after a long time as the past few years had been marred by single-digit increases.


However, in July-August, textile exports edged lower by 0.98pc to $2.28bn, from $2.302bn in same period of previous year.


Details showed ready-made garment exports fell by 13.74pc in value while plunging in quantity by 51.83pc during August. Those of knitwear dropped 10.65pc in value and 27.2pc in quantity, bed wear 12.29pc and 25.52pc, respectively.


Towel exports fell by 10.12pc in value and 15.85pc in quantity, whereas those of cotton cloth dipped 17.91pc and 33.42pc.


The government lifted the ban on exports of seven products classified as personal protective equipment (PPE) in a bid to allow manufacturers to honour international orders.


Among primary commodities, cotton yarn exports plunged by 51.36pc, yarn other than cotton by 100pc, made-up articles — excluding towels —5.82pc and raw cotton 94.4pc. On the other hand, tents, canvas and tarpaulin increased by a massive 34.07pc during the month under review.


The import of textile machinery dropped by 30.27pc during the second month of FY1 — a sign that no expansion or modernisation projects were taken up by the industry in the given period.


The country’s textile and clothing exports tumbled over 6pc year-on-year to $12.526bn in FY21, compared to $13.327bn in the corresponding period of FY20.

An increase of 38.45pc was seen in imports of textile group — raw cotton, synthetic and artificial silk yarn.

Karachi was under water for better part of August. There was complete disruption in logistics/transport chain. Both imports and exports fell across the board.

Port operations
Editorial 30 Aug 2020
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THE recent torrential rains and unprecedented urban flooding in Karachi have adversely disturbed port operations, causing problems for Pakistan’s international trade. Activity at the city’s two ports has either slowed down or has been suspended because of heavy monsoon showers over the last several days, creating challenges for safe operations and bringing cargo/shipping handling to a halt. Neither port officials nor labour could reach the ports after the city went under water, leading to delays in the provision of services such as cargo scanning, deliveries and cargo loading. Since there has been very limited activity, consignments have piled up, causing congestion. Exporters have been facing shipment delays for the last 10 days even before the city was submerged under rainwater and the situation has spawned concerns that the country may not be able to maintain the export growth momentum seen in the last couple of months after the government reopened the economy amid declining Covid-19 infections. The gravity of the situation and its potential impact on the nation’s foreign trade was also acknowledged by the adviser on commerce Abdul Razzak Dawood when he tweeted, that “it appears that because of heavy rains, particularly in Karachi, our export consignments are being delayed and, hence, exports may be affected in August”. At the same time, he advised exporters to bring any difficulties they faced to the notice of the commerce ministry.

 

muhammadhafeezmalik

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P.S you made a thread based on by comparing 1-2 months only shows how much ignorant you are.

Trends should be discussed always on quarter by quarter bases minimum.
depends upon their market and their may/june exports numbers were terribly low so naturally any growth will be spectacular as compared to previous months with corona recovery.
This increase is compared by the corresponding month of the previous year, not compared by the previous month of the same year.
 

muhammadhafeezmalik

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Karachi was under water for better part of August. There was complete disruption in logistics/transport chain. Both imports and exports fell across the board.

Port operations
Editorial 30 Aug 2020
Facebook Count
Twitter Share
7
THE recent torrential rains and unprecedented urban flooding in Karachi have adversely disturbed port operations, causing problems for Pakistan’s international trade. Activity at the city’s two ports has either slowed down or has been suspended because of heavy monsoon showers over the last several days, creating challenges for safe operations and bringing cargo/shipping handling to a halt. Neither port officials nor labour could reach the ports after the city went under water, leading to delays in the provision of services such as cargo scanning, deliveries and cargo loading. Since there has been very limited activity, consignments have piled up, causing congestion. Exporters have been facing shipment delays for the last 10 days even before the city was submerged under rainwater and the situation has spawned concerns that the country may not be able to maintain the export growth momentum seen in the last couple of months after the government reopened the economy amid declining Covid-19 infections. The gravity of the situation and its potential impact on the nation’s foreign trade was also acknowledged by the adviser on commerce Abdul Razzak Dawood when he tweeted, that “it appears that because of heavy rains, particularly in Karachi, our export consignments are being delayed and, hence, exports may be affected in August”. At the same time, he advised exporters to bring any difficulties they faced to the notice of the commerce ministry.

بہانے ختم ہی نہیں ہوتے ہمارے

Floods have submerged a quarter of Bangladesh. Experts see no quick end to the problem
 

Yaseen1

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the web laid by zionists israelis in the form of covid19 will engulf many countries and in next few years many countries will collapse ,considering our poor economic condition and incompetent govt there is high risk and danger that Pakistan may fall in such category of countries if we continue to ignore such threats,u.s elections will lead to new change in world order and irrespective of who wins instability will rise across u.s and whole world after these elections
 

Patriot forever

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بہانے ختم ہی نہیں ہوتے ہمارے

Floods have submerged a quarter of Bangladesh. Experts see no quick end to the problem
They had better management in their port cities. We handed over our trade lifeline to PPP.
We too had floods in Swat but it does not effect our trade.

Show me were the main ports of Bangladesh operational or not?

Common sense contradicts your post. I mentioned Karachi not swat or South Punjab for a reason. No transport of containers no business.
 

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