The textile exports from the country increased by 4.24 percent during the first three quarters of the current fiscal year as against the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported Friday.

The textile exports from the country during July-March (2019-20) were recorded at $10,412.939 million against the exports of $9,989.457 million in July-March (2018-19), showing growth of 4.24 percent, according to the PBS data.

The textile commodities that contributed in positive growth in trade included knitwear, the exports of which increased from $2,154.562 million last year to $2,229.869 million during the current fiscal year, showing growth of 6.74 percent.

Likewise, the exports of readymade garments increased by 11 percent by going up from $1,955.778 million to $2,170.517 million while the exports of bed wear increased 2.45 percent, from $1,719.376 million to $1,761.552 million.

The exports of raw cotton also increased by 8.19 percent, from $15.719 million to $17.007 million, towels by 0.58 percent, from $588.100 million to $591.527 million whereas the exports of tents, canvas and tarpaulin by 5.77 percent, from $68.277 million to $72.216 million.

The exports of art, silk and synthetic textile increased by 18.47 percent by growing from $220.459 million last year to $261.172 million.

The textile goods witnessed negative growth in trade included cotton yarn, the exports of which declined by 1.90 percent by falling from $835.719 million last year to $819.808 million during the current year.

The exports of cotton cloth also decreased from $1595.882 million to $1,548.176 million, a decline of 2.99 percent whereas the exports of cotton carded or combed declined from $0.161 million to $0.062 million, showing fall of 61.49 percent.

Likewise, the exports of yarn (other than cotton yarn) decreased by 7.11 percent, by falling from $22.559 million to $20.956 million

Meanwhile, on year-on-year basis, the textile exports during the month of March 2020 decreased by 4.46 percent when compared to the corresponding month of last year. The textile exports in March 2020 were recorded at $1,039.705 million against the exports of $1,088.192 million, the PBS data revealed.

It is pertinent to mention here that the country’s trade deficit witnessed significant reduction in first three quarters of current financial year and declined by 26.45% as compared to the corresponding period of last year.

During the period under review country’s exports registered about 2.23% growth, whereas imports reduces by 14.42%.

The exports witnessed an increase of 2.23% and reached to $17.451 billion against the exports of $17.071 billion of the same period of last year.

On the other hand, the country’s imports witnessed significant decrease of 14.42 % and went down from $40.679 billion last financial year to $34.814 billion of same period of current financial year.

Based on the figures, the trade deficit during the period under review was recorded at $17.363 against the deficit of $23.608 during last year, showing decline of 26.45 percent.