Textile exports Finally Rise 14.4% YoY in July after Months of Economic Inactivity

Pakistan’s exports particularly in the textile sector have finally started to improve after the gradual ease of lockdown in different parts of the world. 

According to the Bureau of Statistics’ recent data, the textile exports increased by 14.4% to $1.272 billion in July 2020.

 The Ministry of Commerce said that the ease of lockdown in the North American and European countries, which are Pakistan’s top export destinations for textile goods, would ultimately help revive the country’s exports.

Pakistan has also seen an increase in foreign orders since June, as exports to Iran and Afghanistan were also permitted via land routes. The exports of textiles and apparel had jumped nearly 17% YoY earlier in February 2020. This growth was reported to have been marred by single-digit increases over the past few years, after a long time.

The PBS data showed the following trends in textile exports:

The export of readymade garments increased by 18.04% YoY in value but drifted lower by 32.82% in quantity during July 2020.

The export of knitwear surged 20.42% in value and 14.49% in quantity, while that of bed wear grew 25.3% in value and 6.36% in quantity.

Towel exports increased by 21.40% in value and 26.98% in quantity, whereas cotton cloth exports inched up 1.15pc in value but dipped 22.31pc in quantity.

Ministry of Commerce informed, “Exporters are receiving inquiries about PPEs from foreign buyers as the government had allowed exports of disposable gowns, disposable gloves, face shields, biohazard bags, goggles, shoe covers and hand sanitizers.”

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