ISLAMABAD : The exports of readymade garments earned $1,260,543 million during the first half of the current fiscal year (2018-19), showing growth of 0.89 percent over the corresponding period of last year. During the last fiscal year, the exported readymade garments were worth $1,249,416 million, according to data of PBS. Overall textile exports during the period under review witnessed nominal growth of 0.06 percent by going up from $6,641,486 million last year to $6,645,793 million, the data revealed. Meanwhile, on year-on-year basis, the exports of readymade garments increased by 3.59 percent during December 2018 compared to the exports of December 2017. The exports of readymade garments during the month under review were recorded at $238,119 million compared to the exports of $229,877 million. On month-on-month basis, the readymade garments exports from the country increased by 11.86 percent during the month when compared to the exports of $212,877 million during November 2018, the PBS data revealed.
It is pertinent to mention here that the overall trade deficit of the country has contracted by five percent to $16.8 billion in July-December (2018-19) against the deficit of $17.7 billion during same period of the year 2017-18.
Government’s policy measures have resulted in shrinking of trade deficit, decline in imports and increase in exports which augurs well for overall balance of payment of the country.