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Textile Exports Register 10.80% Growth During January 2021: PBS

Morpheus

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Textile Exports Register 10.80% Growth During January 2021: PBS

Posted 19 mins ago by ProPK Staff



The exports and imports data released by the Pakistan Bureau of Statistics (PBS) revealed that the textile group exports registered an increase of 10.79 percent on a year-on-year basis, reaching $1.32 billion in January 2021 compared to $1.19 billion in January 2020.


Textile group exports registered 8.23 percent growth during the first seven months (July-January) 2020-21 and remained $8.76 billion compared to $8.09 billion during the same period of the last year.
However, textile group exports witnessed a decline of 5.54 percent in January 2021, clocking in at $1.32 billion compared to $1.4 billion during December 2020.

Cotton yarn exports declined by 10.90 percent during January 2021 and remained $85.69 million compared to $96.18 million during December 2020 and declined by 10.38 percent compared to $95.62 during the same month of the last year.
Cotton yarn registered a 23.97 percent decline during July-January 2020-21 and remained $486.42 million compared to $639.77 million during the same period of the last year.

Raw cotton exports recorded a massive decline of 100 percent in January 2021 as they stood at zero compared to $0.07 million during December 2020 and $0.54 million during January 2020. Raw cotton registered a 96.27 percent decline during July-January 2020-21 and remained $0.596 million compared to $15.88 million during the same period of the last year.
Petroleum group imports witnessed a decline of 20.90 percent as they reached $5.64 billion during July-January 2020-21 compared to $7.13 billion during the same period of the last year.

Petroleum group imports witnessed a decline of 12.13 percent as they reached $869.29 million in January 2021 compared to $989.25 million during January 2020 and registered 5.39 percent growth compared to $824.86 million in December 2020.

Construction machinery imports have witnessed a massive decline of 42.34 percent during July-January 2020-21 and remained $64.62 million compared to $112.06 million during the same period of the last year.
Construction machinery imports also witnessed a massive decline of 66.89 percent during January 2021 and remained $10.32 million compared to $31.19 million during January 2020 and registered over 49 percent growth compared to $6.91 million in December 2020.

The country’s exports during July-January 2020-2021 totaled $ 14.256 billion (provisional) compared to $13.496 billion during the same period of the last year, registering an increase of 5.63 percent.

The exports in January 2021 were $ 2.146 billion (provisional) compared to $2.366 billion in December 2020, showing a decrease of 9.30 percent but increased by 8.82 percent compared to $ 1.972 million in January 2020.

The country’s imports during July-January, 2020-2021 totaled $29.274 billion (provisional) as against $27.316 billion during the corresponding period of the last year, showing an increase of 7.17 percent.

The imports in January 2021 were $4.820 billion (provisional) compared to $4.986 billion in December 2020, showing a decrease of 3.33 percent but increased by 16.96 percent compared to $4.121 billion in January 2020.

The country’s trade deficit widened by 8.67 percent to $15.018 billion during July-January 2020-21 compared to $13.820 billion during July-January 2019-20.

The main commodities of exports during January 2021 were knitwear at Rs. 52.118 billion registering 37.61 percent growth compared to the same period last year and decreased by 5.86 percent compared to December 2020; readymade garments at Rs. 45.307 billion registering 8.99 percent growth compared to the same period of the last year and 0.59 percent decline compared to December 2020; bed wear at Rs. 35.126 billion registered a 17.02 percent growth compared to the same period of the last year and a 14.29 percent decline compared to December 2020.

Cotton cloth clocked in at Rs. 24.23 billion, registering a 10.80 percent decline compared to the same period of the last year and a 6.45 percent decline compared to December 2020; towels at Rs. 14.015 billion registered 38.86 percent growth compared to the same period of the last year and 5.49 percent growth compared to December 2020.

Basmati rice was at Rs. 12.149 billion registered a 20.44 percent growth compared to the same period of the last year and 138.40 percent growth compared to December 2020; cotton yarn at Rs. 13.724 billion registered a 7.20 percent decline compared to the same period of the last year and a 10.86 percent decline compared to December 2020; made-up articles (excluding towels and bed-wear) at Rs. 10.84 billion registered a 25.56 percent growth compared to the same period of the last year and declined by 6.06 percent compared to December 2020.

The main commodities of imports during January 2021 were petroleum products at Rs. 61.019 billion registered 6.08 percent decline compared to the same period of the last year and 8 percent growth compared to December 2020; natural gas liquefied at Rs. 35.73 billion registered 3.48 percent growth compared to the same period of the last year and 23.14 percent growth compared to December 2020; palm oil at Rs. 40.99 billion registered a 66.69 percent growth compared to the same period of the last year and 8.58 percent growth compared to December 2020.

Iron and steel scrap imports were at Rs. 25.82 billion registered 13.42 percent growth compared to the same period of last year and 3.66 percent decline compared to December 2020; plastic materials at Rs. 35.67 billion registered a 31.42 percent growth compared to the same period of the last year and 0.74 percent growth compared to December 2020; power generating machinery at Rs. 30.63 billion registered 177.55 percent growth compared to the same period of last year, and 25.40 percent growth compared to December 2020.

Mobile phone imports were at Rs. 31.52 billion and registered 41.13 percent growth compared to the same period of last year and 8.29 percent decline compared to December 2020; raw cotton Rs. 29.31 billion, registered 75.35 percent growth compared to the same period of the last year and 18.03 percent growth compared to December 2020, and iron and steel Rs. 28.52 billion, with a 78.14 percent growth compared to the same period of the last year and 32.29 percent compared to Dec 2020.

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aasimanwaar

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Time to capture more share in textile. This is very critical time as Vietnam taken so far biggest benifit of America ban on China and captured major American share.
 

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