Data released by the Pakistan Bureau of Statistics showed the pace of decline in Pakistan’s textile exports slowed down in the last two months owing to a recovery in international orders. Compared to 36.5 per cent decline in May, exports in June declined 5.43 per cent over the last year.
Easing of lockdown in the North American and European countries — top export destinations for Pakistani textile goods are helping revive sinking exports. Piled up containers at ports since March 22 were mostly cleared in the month of June. Moreover, the government also reopened exports through the land route to Iran and Afghanistan in June. A report produced by the customs authorities showed that cargo handling at Karachi ports posted a growth of 7.23 per cent in June as 49,953 export containers were shipped this year as against 46,583 of last year.
It was only in February when the textile and clothing exports jumped by nearly 17 per cent on a year-on-year basis — growth witnessed after a long time as the past few years had been marred by single-digit increases.
Details showed exports of ready-made garments by dipped 3.81 per cent in value and drifted much lower in quantity by 10.07 per cent during July-June FY20, while those of knitwear dropped 3.64 per cent in value and 10.11 per cent in quantity, bed wear posted negative growth of 4.91 per cent in value and 2.31 per cent in quantity.
Towel exports fell by 6.52 per cent in value and 6.39 per cent in quantity, whereas those of cotton cloth dipped by 12.94 per cent in value and 17.66 per cent in quantity. However, exports are expected to revive in July as exporters have resumed production to honor their international orders.