Inside Financial Markets

Textile, clothing exports decline 12.24 percent in May

Pakistan’s textile and clothing exports have declined 12.24 per cent to $ 938.589 million in May 2017 from $ 1.069 billion for the same month a year before, Pakistan Bureau of Statistics (PBS) said on Tuesday. The fall in textile exports was witnessed in most of the value added products, discloses the statement of exports of selected products uploaded on the PBS website. The government had announced an incentive package to support the exporters; however, the package has not been able to lift the sliding exports.

The product-wise details on year-on-year basis show that exports of cotton yarn contracted 3.13 per cent to $ 92.135 million from $ 95.113 million, cotton cloth 15.74 per cent to $ 157.020 million from $ 186.356 million. The exports of knitwear decreased to $ 185.520 million in May 2017 from $ 217.478 million in May 2016, showing a decline of 14.69 per cent, bed wear decreased 15.53 per cent to $ 155.311 million in May 2017 from $ 183.865 million for the same month of last fiscal year while exports of towels contracted 18.11 per cent to $ 55.691 million from $ 68.010 million.

The exports of readymade garments decreased 7.21 per cent to $ 180.307 million in May 2017 from $ 194.308 million over the same period of the last fiscal year, however, there was an increase in export of art, silk & synthetic textile to $ 23.439 million from $ 22.612 million, reflecting an increase of 3.66 percent and export of made-up articles (excl. towels be) decreased 15.02 percent to $ 48.492 million in May 2017 from $ 57.060 million in May 2016 and other textile materials decreased to $ 33.188 million from $ 37.483 million.

Overall textile exports during the first eleven months (July-May) 2016-17 decreased to $ 11.234 billion from $ 11.461 billion for the same period of last fiscal year, reflecting a decline of 1.98 per cent. Export of raw cotton decreased 47.14 per cent during the period under review, cotton yarn 3.64 per cent, and cotton cloth, 5.81 per cent, while exports of yarn other than cotton yarn decreased 27.32 per cent. The exports of knitwear decreased by 1.84 per cent during July-May 2017 over the same period of the last fiscal year, towels decreased 4.77 per cent, art, silk & synthetic textile decreased by 32.99 per cent and made-up articles (excl towels be) decreased by 0.45 per cent.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)