In November, export proceeds were up by 9.27pc from a year ago. In October, export proceeds were up by 6.18pc and in September, they grew by 11.03pc while a decline of 15pc was recorded in August.
In the first month of the current fiscal year, exports recorded a robust increase of 14.4pc on a year-on-year basis. The rebound in exports of textile and clothing is the outcome of a series of incentives to support exporters to meet the challenges in the wake of the pandemic and disruption in supplies.
The demand for the country’s exports had collapsed in months following March due to the Covid-19 pandemic, while there has been a gradual improvement since June from international buyers.
Adviser to PM on Commerce in a tweet said that in November, the exports of cotton yarn declined by 25pc, raw leather by 21pc, and cotton fabric by 12.2pc. “This is an indication that exports of low value-added products are decreasing and we are moving towards more value-added exports”, he said while adding that “I urge our exporters to keep pursuing this policy.”
The PBS data showed that ready-made garment exports edged up by 4.36pc in value while plunging in quantity by 44.64pc during July to November this year from a year ago.
- Exports of knitwear increased by 14.34pc in value and 32.35pc in quantity; bedwear exports were up 12.28pc while dipped 7.95pc in quantity.
- Towel exports went up 14.24pc in value and 3.79pc in quantity, whereas those of cotton cloth dipped 8.73pc and 31.78pc in quantity.
- Among primary commodities, cotton yarn exports plunged by 37.34pc, yarn other than cotton by 16.69pc, made-up articles — excluding towels — was up 15.53pc and tents, canvas and tarpaulin increased by a massive 58.05pc during the months under review.
Textile machinery imports dropped by 6.07pc during the first five months of the current fiscal year — a sign that no expansion or modernization projects were taken up by the industry in the given period.