Textile exports increased for 30% march

Exports of textiles and apparel to Pakistan increased 30.4% in March, mainly driven by the value-added sector. This comes from data released Friday by Statistics Pakistan (PBS).

Exports from these sectors increased in March from $ 103 billion to $ 1.355 trillion over the same month last year. The increase in exports in the value-added sector contributed to an increase in total exports in these sectors. Exports of textiles and clothing in February fell by 3.12 units. These exports are carried out in the value-added sector. Exports from July to March this year amounted to $ 1.35 billion, an increase of 9.06 units over the same month last year to $ 104.1 billion.

The Economic Coordination Committee of the Cabinet of Ministers recently approved the import of cotton and cotton yarn from India, but such a decision was overturned by the federal cabinet. Duty free import allowed until June 30, 2021.

In terms of parts, apparel exports totaled 22.9 units. Cost, followed by a knitted item for 49.64 items in the reporting month, a sheet for 43.71 items and a towel for 20.95 items in the reporting month. Garment exports to Pakistan and China have increased significantly in the United States in recent months compared to countries in the region. The government abolished duties and taxes on industrial raw materials and paid refunds to future exporters. The devaluation of the rupee and low interest rates spurred industrial growth, especially in export-oriented industries.

According to PBS, the export of cotton yarn increased by 39. In March of the same year, 8.7 sheets of cotton are being monitored. Exports of yarn excluding 100 cotton cards and cotton yarn also increased by 56.87. At the same time, the export of works of art and silk increased by 32.72 units, excluding towels, bed linen, 12.48 units and other textiles, to 41.03 units in the reporting month.

The total volume of exports in March increased by 30.62 units. It increased from $ 1.81 billion year on year to a high of $ 2.36 billion in March 2021. From July to March, total exports increased 7.13 units to $ 18.48 billion, up from $ 17.4 billion in the same month last year. In the nine months of this fiscal year, imports of textile machinery rose marginally to 7.72. This shows that, as part of the modernization or expansion of the industry, textile machinery began to be imported.

To address the shortage in the domestic sector, the industry imported 624,945 tons of cotton between July and March, up 84.76 tons from 338,244 tons a year ago. Similarly, imports of synthetic fibers increased by 52.29 tons, compared with 227,365 tons, while imports of 346,254 tons in the same year. Imports of synthetic and artificial yarns this year are up 50.21 tons to 316,656 tons, up from 210,810 tons last year. Imports of used clothing increased by 55.22. This year it has increased to 487,107 tons against 311,818 tons last year.