Pakistan exported textile commodities worth $961 million during November as compared to $1.13 billion of the corresponding month of the previous year, decline by 14.6 percent due to both external and internal issues going on in the country. Exports Likely to further tumble in the months to come with the suspension of gas supply to Punjab’s textile mills indefinitely by the government, said an official of the All Pakistan Textile Mills Association.
He further said that more than 400 of spinning, weaving and processing were being supplied gas just for four hours a day in November, which now has been halted completely in December.
Exports would also suffer as cotton arrival in November 2015 had dropped to just 5.1 million bales against 8.5 million bales of last year in Punjab, a decline of 40 per cent. Pakistan’s exports are continuously declining from last several months.
The Ministry of Commerce attributed the decline in exports to adverse terms of trade triggered by massive reduction in commodity prices and weak global demand.
According to the latest figures of Pakistan Bureau of Statistics (PBS), the country’s textile exports stood at $5.2 billion during July-November of the ongoing fiscal year as against $5.7 billion of the same period of last year, showing a decline of 8.4 per cent.
Meanwhile, all other textile goods had registered negative growth including raw cotton 29.52 per cent, cotton yarn 28.01pc, cotton cloth 9.88pc, cotton carded or combed 97.9pc, yarn 24.4pc, knitwear 2.26pc, bed wear 7.36pc, tents, canvas & tarpaulin 45.4pc, art and silk & synthetic textile 21.9 per cent, during July-November 2015 as compare to the same period last year.
But export of readymade garments registered a growth of 3.59 percent during July-November 2015 over a year ago. Similarly, exports of towels recorded growth of 6.1 percent.
According to the PBS data, country’s overall exports came down to $8.5 billion in July-November of the year 2015-2016 from $9.9 billion of the same period of previous year. Meanwhile, imports decreased by 9 per cent to $18.5 billion in July-November 2015-2016 from $20.3 billion of the same period last year.
Pakistan’s trade deficit, gap between exports and imports, narrowed to $9.9 billion during five months of the current financial year from $10.4 billion of the corresponding period of previous year with reduction of 4.15 per cent.