Textile exports down 9pc in July-Feb

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Exports of textile and clothing fell by 8.76 per cent to $8.363 billion in the first eight months (July-February) of 2015-16 from $9.166bn in the same period last year, according to Pakistan Bureau of Statistics data.

The sector has been facing chronic energy shortages and stuck-up exports refunds.

The decline in exports, from July 2014, was despite the preferential market access to the European Union.

“The government has failed to capitalise on the opportunity of Generalised System of Preferences Plus (GSP+) status,” an exporter said.

Details showed that exports of low value-added products, such as cotton cloth fell 10.69pc, cotton yarn 32.80pc, cotton carded 98.12pc, yarn other than cotton 21.20pc and made-up articles by 4.41pc.

In value-added sector, exports of bedwear dipped by 5.42pc and knitwear 2.72pc. However, readymade garments and towels grew 3.97pc and 1.05pc, respectively.

Raw cotton exports witnessed a massive decline of 46.58pc.

Total export proceeds decreased by 13.30pc year-on-year to $13.868bn in July-February 2015-16 from $15.995bn.

OIL AND FOODSTUFFS:

Import bill of these two products declined by 26.23pc to $8.606bn in July-February 2015-16 from $11.666bn in the same period last year.

Total imports reached $28.949bn during the period as compared to $30.484bn, a decline of 5.04pc.

Imports of food products grew 0.55pc to $3.499bn from $3.480bn a year ago.

Oil imports fell by 37.61pc to $5.107bn from $8.186bn a year ago. Import of crude oil was down by 42.96pc while import of petroleum products declined by 34.54pc.

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