Textile exports to EU increase by 21.3% in 2015

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The European flag flies outside of the La Canada shopping centre in Marbella, southern Spain January 23, 2013. Britain's Prime Minister David Cameron promised on Wednesday to give Britons a referendum choice on whether to stay in the European Union or leave if he wins an election in 2015, placing a question mark over Britain's membership for years. REUTERS/Jon Nazca (SPAIN - Tags: BUSINESS POLITICS)

 

 

The textile exports to the European Union witnessed a 21.3 per cent increase during the fiscal year 2015 when compared with the exports of the commodity during FY 2013.

The total textile exports increased from 545,698 metric tonnes in 2013 to 662,475 metric tonnes in 2015, official sources said.

Among the textile products, the exports of textile garments increased from 137,399 metric tonnes to 179,901 metric tonnes in 2015, showing an increase of 31 per cent while the homemade textile exports increased from 195,243 metric tonnes to 259,557 metric tonnes in 2015, showing growth of 33 per cent.

The cotton exports to European Union increased from 211,522 metric tonnes in 2013 to 220,899 metric tonnes in 2015, showing positive growth of 4.43 per cent.

The footwear exports to EU increased from 4,336 metric tonnes to 4,861 metric tonnes, an increase of 12 per cent, the leather exports increased from 19,528 metric tonnes in 2013 to 21,7412 metric tonnes in 2015 while the carpet and rug exports increased from 1,803 metric tonnes to 2,116 metric tonnes in 2015, showing an increase of 17.35 per cent.

PAKISTAN’S IMPORTS, TRADE DEFICIT:

Meanwhile, during the first three quarters of the current fiscal year (2015-16), the overall imports into the country declined by 4.22 per cent during the first three quarters of the current fiscal year as compared to the corresponding period of last year.

Imports into the country during July-March (2015-16) were recorded at $32.515 billion, compared to the imports of $33.948 billion during July-March (2014-15), according to data released by Pakistan Bureau of Statistics (PBS) on Tuesday.

The exports from the country also witnessed negative growth of 12.92 per cent and fell from $17.921 billion last year to $15.606 billion during the current year.

Based on the figures, the overall trade deficit during the period under review was recorded at $16.909 billion compared to the deficit of $16.027 billion last year, showing increase of 5.50 per cent.

On year-on-year basis, the imports into the country during March 2016 witnessed increase of 3.78 per cent compared to the same month of last year.

The imports during March 2016 were recorded at 3.594 billion compared to the imports of $3.463 billion during March 2015, the data revealed.

On the other hand, the exports from the country during March 2016 declined by 9.55 per cent and reached $1.742 billion compared to the exports of 1.926 billion in March 2015.