Rapid depreciation in the value of the rupee and growing global demand led to Pakistan’s textile and clothing exports growing 28.26 per cent Y-o-Y to $17.62 billion in the first 11 months of this fiscal year (11MFY22). As per Pakistan Bureau of Statistics (PBS), Pakistan’s textile and clothing exports grew 56.02 per cent Y-o-Y during May this year. RMG exports grew 30.63 per cent in value and 49.70 per cent in quantity during July-May, while knitwear exports increased 36.44 per cent in value but dipped 4.34 per cent in quantity. Value of bedwear exports grew 21.68 per cent. However, its quantity decreased by 15.19 per cent. Pakistan’s towel exports increased 21.66 per cent in value and 7.17 per cent in quantity, whereas exports of cotton cloth rose by 26.81 per cent in value and 7.14 per cent in quantity.
Exports of cotton yarn increased 24.18 per cent, and those of yarn made from material other than cotton increased by 109.68 per cent. Pakistan’s made-up article exports excluding towels surged by 15.19 per cent, while exports of tents, canvas, and tarpaulin dipped by 2.16 per cent during the period under review. During the review period, the export of art, silk, and synthetic textiles increased by 29.36 per cent.
Textile machinery imports increased 47.24 per cent Y-o-Y to $722.605 million in July-May. Import of raw cotton increased 25.28 per cent while the import value of synthetic fibers rose 19.29 per cent followed by import of synthetic and artificial silk, whose imports rose by 28.80 per cent during the period. In 11MFY22, imports of used clothing increased by 46.90 per cent compared to the same period last year.