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Tag: Textile export

  • Textile exports fall to $2.28bn in July-August

    Textile exports fall to $2.28bn in July-August

    KARACHI: Textile exports have fallen by one percent to $2.28 billion during first two months of current fiscal year as compared with $2.3 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS).

    Major component of textile exports have witnessed growth during the period.

    The export of knitwear grew by 4.43 percent to $564.29 million during July – August 2020 of the current fiscal year as compared with $540 million in the corresponding period of the last fiscal year.

    The export of bed wear increased by 6 percent to $424.18 million during first two months of the current fiscal year as compared with $400.44 million in the same month of the last year.

    The export of readymade garments grew by 2 percent to $477 million during July – August 2020 as compared with $467 million in the same period of the last fiscal year.

  • Textile exports post sharp 64 percent decline in April

    Textile exports post sharp 64 percent decline in April

    ISLAMABAD: The textile exports have witnessed massive 64 percent decline in April 2020 due to lower demand in foreign markets and cancellation of orders due to coronavirus outbreak.

    According to data released by Pakistan Bureau of Statistics (PBS) on Wednesday, the textile exports recorded $403 million dollars in April 2020 as compared with $1.14 billion in the same month of the last year.

    The exports in April 2020 were also registered decline of 61 percent when compared with $1.04 billion in March 2020.

    The textile exports however registered 2.79 percent decline to $10.81 billion in first ten months (July – April) 2019/2020 as compared with $11.12 billion in the corresponding months of the last fiscal year.

    State Bank of Pakistan (SBP) in its second quarterly report on Pakistan Economy, stated that the outbreak of the virus in Europe and North America and the ensuing lockdowns may have an adverse impact on Pakistan’s exports.

    Further, domestic exporters have already warned of cancellation of orders as retail sales in destination markets weaken and port and shipping activities are restricted, the SBP noted.

  • Textile export falls by 18.4pc as COVID-19 affects global economies

    Textile export falls by 18.4pc as COVID-19 affects global economies

    KARACHI: The coronavirus pandemic (COVID-19) is taking its toll on Pakistani textile export as it fell by 18.40 percent in March 2020 as compared with previous month, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

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  • Textile exports increase by 3.68% in seven months

    Textile exports increase by 3.68% in seven months

    KARACHI: The exports of textile products have recorded increase of 3.68 percent during first seven months (July – January) 2019/2020 on the back of improvement in readymade garments and knitwear.

    The exports of textile group were at $8.1 billion during first seven months of current fiscal year as compared with 7.81 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Monday.

    The textile sector was facing several issues pertaining to fuel prices and payment of tax refunds.

    On the other hand the government allowed many incentives to export sector for encouraging the exporters. The government allowed zero rated of sales tax which is only available to the exporters.

    The exports of readymade garments recorded 11 percent increase during the period under review. The exports readymade garments increased to $1.68 billion during first seven months of the current fiscal year as compared with $1.516 billion in the same period of the last fiscal year.

    The exports of knitwear recorded 6.27 percent increase to $1.83 billion during July – January 2019/2020 as compared with $1.72 billion in the corresponding period of the last fiscal year.

    The exports of bed wear recorded 2.77 percent growth to $1.39 billion during first seven months of the current fiscal year as compared with $1.35 billion in the same period of the last fiscal year.

    However, the exports of cotton cloths fell by 3.62 percent to $1.19 billion during the period under review as compared with $1.23 billion in the corresponding period of the last fiscal year.

    The exports of towels registered nominal decline to $444 million during first seven months of the current fiscal year as compared with $446.45 million in the corresponding period of the last fiscal year.

    The export of cotton yarn was also registered flat growth to $640 million during first seven months of the current fiscal year as compared with $635 million in the same period of the last fiscal year.

  • Textile exports decline by 15pc in June on budgetary measures

    Textile exports decline by 15pc in June on budgetary measures

    KARACHI: Pakistan’s textile exports fell by 15 percent in June 2019 to $1.01 billion as compared with $1.19 billion in the same month of the last year, according to export data released by Pakistan Bureau of Statistics (PBS) on Friday.

    The exports of June 2019 has also exhibited 14.55 percent decline when compared with $1.18 billion in May 2019.

    Analysts said that uncertainty in exchange rate and budgetary measures have negatively impacted the exports in the month of June 2019.

    They said that the currency fluctuated massively during past two months, which increased the cost of imported raw material. Further budgetary measures including elimination of sales tax zero-rating for five export sectors also caused in export decline.

    The overall exports of textile products fell by 1.42 percent to $13.33 billion during fiscal year 2018/2019 as compared with $13.52 billion in the preceding fiscal year.

    The experts said that despite several incentives given by the government to this particular sector the exports were remained stagnant. They said that the government in terms of incentives had granted rebate and credit on duty and taxes.

    The exports of knitwear and readymade garments have supported the overall textile exports. The export of knitwear grew by 7 percent to $2.89 billion during fiscal year 2018/2019 as compared with $2.711 billion in the preceding fiscal year.

    Similarly, the export of readymade garments exhibited growth of three percent to $2.65 billion in the fiscal year under review as compared with $2.577 billion in the fiscal year 2017/2018.

    The export of raw cotton and cotton year witnessed decline of 65 percent and 18 percent during the comparative fiscal years.

    However, export of bead wear was remained flat at $2.262 billion in fiscal year 2018/2019 as compared with $2.261 billion in the preceding fiscal year.

    The State Bank of Pakistan (SBP) in its third quarterly report on Pakistan Economy said that the stagnation in overall textile exports stemmed from a slowdown in export growth (in value terms) of readymade garments and knitwear items, and Year on Year (YoY) declines in cotton fabric and yarn exports.

    Except for yarn, export values of all these major products suffered from a drop in unit prices, as quantum exports grew appreciably. The drop in dollar-based unit prices was mainly owed to exchange rate adjustments, as exports rose significantly in Pak Rupee terms, the SBP said.

    In rupee term the textile exports registered 22 percent growth during 2018/2019 as compared with preceding fiscal year.

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  • Incentives fail to improve textile export

    Incentives fail to improve textile export

    Pakistan’s textile industry, despite benefiting from incentives related to duties and taxes, has failed to achieve significant improvements in exports.

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