ISLAMABAD                 -           Pakistan’s textile and clothing exports grew by 4.68 percent during the first five months (July to November) of the current of 2019-20. The country’s textile exports had recorded growth of 4.68 percent and surged to $5.763 billion during July to November period of the year 2019-20 as compared to $5.506 billion in the same period of last year. The latest data of Pakistan Bureau of Statistics (PBS) showed that the country’s textile exports had increased by 7.03 percent to $1.177 billion in the month of November from $1.099 billion in the same period of last year.

In the value-added sector, exports of knitwear were up by 8.69 percent followed by 4.69 percent in bed wear. Exports of ready-made garments rose by 13.19 percent while proceeds from towel only inched by a modest one percent.  The data showed that exports of cotton cloth had recorded a decline of 3.74 percent. Exports of tents, canvas and tarpaulin witnessed decrease of 1.41 percent. Meanwhile, exports of made-up articles (excluding towels and bedwear had declined by 6.25 percent. The PBS data showed that exports of food commodities had recorded an increase of 16.2 percent during first five months of the current fiscal year. In food commodities, exports of rice recorded growth of 38.58 percent, fruits exports increased by 2.18 percent and oil seeds, nuts and kernels exports had gone down by 48.55 percent.

Pakistan’s overall exports grew by 4.79 percent to $9.54 billion in July-November period of the current fiscal year as against $9.10 billion during the same period last year. However, the country’s imports in the first five months of current fiscal year clocked in at $19.21 billion, down by 18.41 percent from $23.54 billion over the corresponding period last year. The trade deficit had narrowed to $9.66 billion in July-November from $14.43 billion over the corresponding months last year.

Pakistan’s oil imports have reduced by over 21.79 percent in July to November of the current fiscal year. The country’s had spent $5.11 billion on importing oil in five months of the year 2019-2020 as compared to $6.534 billion in the corresponding period of the previous year. The PBS data showed that the import of petroleum products had shown decline of 25.66 percent to $2.174 billion. Similarly, import of petroleum crude had reduced by over 28.01 percent to $1.486 billion. Meanwhile, imports of natural gas liquefied had cost $1.334 billion and imports of petroleum gas liquefied recorded at $114.9 million.

All the groups including food group, petroleum good, consumer durables and raw materials have witnessed hefty decline in imports during the July-November period of 2019-20 over the same period last year. Food imports had contracted 15.36 percent to $2.089 billion during July-November period of 2019-20, from $2.468 billion in corresponding months last year.

Similarly, imports of transport group had posted a 41.91 percent decline, with decrease in imported value of almost all subcategories. On the other hand, agriculture imports inched down by 16.39 percent to $3.23 billion in July-November period of the current fiscal year from $3.864 billion in the same period of last year.