Pakistan Textile exports post 742 decline FY 16

ISLAMABAD: The textile sector exports from the country declined by 7.42 per cent during the Fiscal Year 2015 16 as compared to same period of the year 2014 15. The textile exports during the period July June (2015 16) were recorded at US 12.455 billion compared to that of 13.453 billion in same period of the preceding year Pakistan Bureau of Statistics data revealed on Friday.Raw cotton and cotton yarn remained the major contributor of decline in the textile exports as their exports witnessed decrease of 47.89 per cent and 31.77 per cent respectively.It may be recalled that cotton production in the country during last season declined sharply in Punjab due to unprecedented weather conditions.The export of readymade garments however showed a positive sign as it rose to 2.196 billion in July June (FY 16) from 2.095 billion in same period of the year 2014 15 thus showing an increase of 4.83 per cent.Details show that towels exports witnessed nominal decrease of 0.41per cent as it went down from 797.155 million in previous fiscal year to 793.898 million in FY 16. Likewise knitwear export decreased from 2.406 billion in July June (2014 15) to 2.369 million in the year 2015 16 thus showing a decrease of 1.54 per cent.The export of bed wear also declined by 4.14 per cent from 2.103 billion in 2014 15 to 2.016 billion in the year 2015 16. Similarly yarn and other than cotton yarn export decreased by 23.48per cent from 42.828 million to 32.774 million while cotton cloth export decreased by 9.71 per cent as it went down from 2.452 billion in July June (2014 15) to 2.214 billion in same period of the year 2015 16. Tents canvas and tarpaulin export also witnessed decline of 28.06 per cent which went down to 91.055 million during the period under review from 126.575 million in the preceding year.Export of art silk and synthetic textile decreased by 12.89 per cent from 330.584 million to 287.973 million during July June (2015 16).