ISLAMABAD: Pakistan’s textile exports declined for the second consecutive month in November by 18.15 percent to $1.42 billion from $1.736 billion in the same month last year, the Pakistan Bureau of Statistics (PBS) said on Friday. said
According to the latest data, exports of components such as cotton fabrics, knitwear, bedwear and towels shrank while exports of readymade garments remained unchanged from last year.
Compared to the previous month, Pakistan’s exports increased by 4.7 percent compared to November 2021 exports of $1.357 billion, PBS said.
Total exports of the textile sector fell 5.1 percent to $7.36 billion in July-November from $7.76 billion in the same period last year.
Cotton textile exports in November 2022 declined by 25% to $153.7 million in November 2022 as compared to $204.85 million in November 2021, while exports declined by 9.45% from last month’s exports of $169.6 million.
However, compared to October, knitwear exports increased by 2.17% to $400.2 million, bedwear increased by 2.45% to $222.5 million, towel exports increased by 16.4% to $92.65 million, while exports of ready-made garments increased to $18.55. The percentage increased to 326.7 million dollars.
Similarly, during the same month last year, knitwear exports declined by 12.8%, bedwear exports by 29.4% and towel exports by 12%, while exports of readymade garments were the same as in November. Recorded in 2021.
The textile sector is Pakistan’s largest exporter, accounting for more than 60 percent of the country’s total exports. In FY22, total textile exports were at a record high of $19.35 billion, an increase of more than a quarter over FY21 exports of $15.4 billion.
Food group exports rose 4.6 percent to $434.3 million in October 2022, compared to $415.3 million in October 2022, and were down 15.6 percent on a year-over-year basis in 2022, when the group’s exports were $514.7 million. Rice exports were $203.15 million against $143.8 million last month and $231.9 million in November 2021. On a MoM basis, rice exports increased by over 41 percent in November 2022, while exports declined by 12.4 percent compared to the same month last year.
Imports
In November 2022, petroleum group imports increased by 38.56% to $1.646 billion compared to $1.19 billion in October 2022. Its imports fell by 24.6 percent compared to $2.18 billion imported in the same month last year.
Imports of petroleum products increased by 55.5% to $708.2 million, crude oil increased by 46.64% to $546 million, LNG increased by 7.16% to $318 million and LPG imports increased by 16.1% to $73.8 million during the last month. During November 2021, imports of petroleum products decreased by 43.8 percent and imports of LNG by 23.9 percent. However, crude imports rose by 25.2 percent and LPG by 10.2 percent.
Imports of the metal group (including gold, iron ore and others) decreased by 8.15 percent to $364.1 million as compared to imports of $396.4 million in the previous month. During November 2021, imports stood at $663.4 million, representing a decline of 45.1 percent. Of this, compared to the previous month, gold imports fell 11% to $2.2 million, iron and steel scrap fell 5.9% to $111 million, and iron and steel imports fell 12% to $153.7 million. Gone. During the same month last year, gold imports fell by 31.8 percent, iron and steel scrap by 59.6 percent, and iron and steel imports by 44.6 percent.
In November 2022, the economy imported 17 percent more machinery to $535 million compared to $457 million in the previous month of October. In November 2021, machinery imports were $1.1 billion, representing a decline of 49.9 percent.
During the same month last year, imports of textile machinery decreased by 60.6% to $25 million, power generation machinery decreased by 64.6% to $57.7 million, and telecom sector machinery imports decreased by 61.2% to $110.1 million. Imports decreased by 15.415% to 15.456%. million and imports of construction and mining machinery decreased by 73.6% to 4.78 million dollars.
