Pakistan’s textile exports fall
According to a report by Pakistan’s “National” on April 21, according to the latest data from the Pakistan Bureau of Statistics, in the first nine months of this fiscal year (July 2015-March 2016), Pakistan’s largest exporter’s textile exports amounted to 9.4 billion. US dollar, down 11.6% year-on-year. Except for towels and ready-made garments, which increased by 0.21% and 4.2% respectively, exports of other textile products fell across the board. Among them, the export volume of raw cotton dropped significantly by 46.79% year-on-year to 75.3 million bales, the export value of cotton yarn dropped by 32.45% to US$990 million, the export value of cotton cloth dropped by 10.14% to US$1.7 billion, the export value of bedding products dropped by 6.25% to US$1.5 billion, and the export value of knitwear dropped by 6.25% to US$1.5 billion. Exports fell 5.5% to $1.7 billion.
Officials from the Ministry of Commerce attributed the decline in textile exports mainly to the decline in cotton production and the slowdown in China’s economic growth. They said that due to the negative impact of extreme weather, frequent pests and diseases, and falling prices, Pakistani cotton in this cotton season is likely to exceed 15.49 million. The target yield of the package is 35% lower. Mainly dragged down by the decline in textile exports, Pakistan’s total exports in the first three quarters of this fiscal year were US$15.6 billion, a year-on-year decrease of 12.92%.
In terms of imports, Pakistan’s imports in the first three quarters of this fiscal year were US$32.5 billion, a year-on-year decrease of 4.22%. The main reason is the decline in crude oil and food prices in the international market. Oil imports alone fell by 37.24% to US$5.58 billion, a US$3.3 billion decrease from the same period last year. Pakistan’s textile exports fall
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