{"id":12732,"date":"2022-12-17T11:55:25","date_gmt":"2022-12-17T11:55:25","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=12732"},"modified":"2022-12-17T11:55:25","modified_gmt":"2022-12-17T11:55:25","slug":"pakistans-textiles-exports-drop-by-18-15-in-november","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/pakistans-textiles-exports-drop-by-18-15-in-november\/","title":{"rendered":"Pakistan’s textiles exports drop by 18.15% in November"},"content":{"rendered":"

Pakistan’s textiles exports drop by 18.15% in November. Pakistan’s textiles exports dropped for the second consecutive month in November, dropping 18.15% to $1.42 billion from $1.736 billion in the corresponding month last year, the Pakistan Bureau of Statistics<\/a> (PBS) said.<\/p>\n

According to the latest data, exports of components like cotton cloth, knitwear, bedwear, and towels shrunk while readymade garments exports remained unchanged from the last year.<\/p>\n

The PBS said, compared with the previous month, Pakistan’s exports were up 4.7% over November 2021’s exports of $1.357 billion.<\/p>\n

The textile sector’s total exports were down 5.1% from July to November, to $7.36 billion from $7.76 billion during the same period last year.<\/p>\n

Cotton cloth exports dipped by 25% to $153.7 million in November 2022 compared to $204.85 million in November 2021, while exports decreased by 9.45% over the previous month’s exports of $169.6 million.<\/p>\n

Read more:\u00a0Trade deficit recedes by 30pc in July-Nov as imports dip<\/a><\/em><\/strong><\/p>\n

However, compared to October, knitwear exports surged 2.17% to $400.2 million, bedwear 2.45% to $222.5 million, towels exports spiked 16.4% to $92.65 million, while exports of readymade garments increased 18.55% to $326.7 million.<\/p>\n

Likewise, over the corresponding month of last year, knitwear exports declined 12.8%, bedwear exports slashed 29.4%, and towels sales abroad went down 12%, while readymade garments exports were the same as recorded in November 2021.<\/p>\n

Textile sector is Pakistan’s top exporter, occupying over 60% of the country’s total exports. In FY22, total textile exports were at a record high of $19.35 billion, with an increase of over a quarter over FY21’s exports of $15.4 billion.<\/p>\n

Food group exports increased 4.6% to $434.3 million against $415.3 million recorded in October 2022 and 15.6% decline on YoY basis, when this group’s exports were at $514.7 million. Rice exports were $203.15 million against $143.8 million in the previous month and $231.9 million in November 2021. On MoM basis, rice exports in November 2022 increased by over 41%, while compared to the same month of last year exports declined by 12.4%.<\/p>\n

Imports<\/strong><\/p>\n

In November 2022, petroleum group imports increased 38.56% to $1.646 billion against $1.19 billion in October 2022. Its imports declined 24.6% over $2.18 billion imported in the same month last year.<\/p>\n

Over the previous month, imports of petroleum products increased 55.5% to $708.2 million, crude 46.64% to $546 million, LNG 7.16% to $318 million, and LPG imports went up 16.1% to $73.8 million. Over November 2021, petroleum products imports decreased by 43.8% and LNG imports went down 23.9%; however, crude imports rose 25.2% and LPG10.2 %.<\/p>\n

Metal group (including gold, iron, and others) imports were slashed by 8.15 % to $364.1 million compared to the previous month’s imports of $396.4 million. Over November 2021, imports were of $663.4 million, depicting a decline of 45.1%. Of this, over the previous month, gold imports were down 11% to $2.2 million, iron and steel scrap down 5.9 % to 111 million, and iron and steel fell by 12% to $153.7 million. Over the corresponding month of last year, gold imports were down 31.8%, iron and steel scrap down 59.6%, and iron and steel imports were down by 44.6 %.<\/p>\n

In November 2022, the economy imported 17% more machinery and it stood at $535 million against $457 million in the previous month of October. In November 2021, machinery imports were $1.1 billion, depicting a decline of 49.9%.<\/p>\n

Over the corresponding month of last year, textiles machinery imports declined 60.6% to $25 million, power generation machinery went down 64.6% to $57.7 million, and telecom sector machinery imports fell by 61.2% to $110.1 million, electrical machinery imports by 15.45% to $156 million and construction and mining machinery imports declined 73.6% to $4.78 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pakistan’s textiles exports drop by 18.15% in November. Pakistan’s textiles exports dropped for the second consecutive month in November, dropping 18.15% to $1.42 billion from $1.736 billion in the corresponding month last year, the Pakistan Bureau of Statistics (PBS) said. According to the latest data, exports of components like cotton cloth, knitwear, bedwear, and towels […]<\/p>\n","protected":false},"author":8,"featured_media":12733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[6684,2320,2632],"class_list":["post-12732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","tag-exports","tag-pakistan-bureau-of-statistics","tag-pbs"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/12732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=12732"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/12732\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/12733"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=12732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=12732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=12732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}