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Pakistan'S Textile Exports Fall 6% In Fy2019 / 20

2020/7/30 10:01:00 0

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Pakistan's textile and clothing exports fell by more than 6% in the 2019 / 20 fiscal year to US $12.526 billion, compared with us $13.327 billion in the same period last year.

The decline in textile exports has slowed down in the past two months due to the recovery of international orders. Exports in June were down 5.43% from a year earlier, compared with a 36.5% decline in May. The blockade of North America and European countries, the main export destinations of textiles, has eased, which is expected to help Pakistan's export recovery. In the past five months, the new outbreak has caused the country's export demand to plummet.

Most of the containers piled up at the port since March 22 were cleared in June. In addition, exports to Afghanistan and Iran were reopened in June. A report by customs authorities collecting export data from a customs declaration shows that cargo handling at Karachi Port increased by 7.23% in June, as 49953 export containers were shipped this year, compared with 46583 last year.

Until February, Pakistan's textile and clothing exports increased by nearly 17% year-on-year, and have been growing in single digits for the past few years. Detailed information shows that in the 2019 / 20 fiscal year (July June), Pakistan's clothing exports decreased by 3.81%, and the quantity decreased by 10.07%, while knitwear decreased by 3.64%, the quantity decreased by 10.11%, and bedding decreased by 4.91%. The export volume of towel decreased by 6.52% and the quantity decreased by 6.39%, while that of cotton decreased by 12.94% and 17.66% respectively. However, exports are expected to resume in July as exporters resume production to meet their international orders.

Among the major commodities, cotton yarn export decreased by 12.49%, yarn excluding cotton decreased by 23.81%, finished products excluding towel decreased by 13.16%, and raw cotton decreased by 16.64%. Exports of tents, canvas and tarpaulins increased by 5.95%. On a monthly basis, exports of textiles and clothing rose by a negative 5.43% in June to $959.13 million, compared with $1014 million in the same period last year.

Exporters have received inquiries from foreign buyers about personal protective equipment because the government allows immediate export of disposable clothing, disposable gloves, face masks, biohazard bags, goggles, shoe covers and hand sanitizers. Previously, the government also allowed the export of textile masks.