Pakistan textile exports grow by 21% in first five months of current fiscal year

Huge depreciation in Pakistan rupee has enabled the textile exports of Pakistan, in terms of local currency, grow by 21 per cent in the July to November period of the current fiscal year.

However, in terms of US dollar, there was a minimal slump in textile exports.

The country’s textile exports earned US $ 5.506 billion in the above-mentioned period, which is a shade less than the first 5 months of the previous fiscal year (US $ 5.509 billion).

This was announced by Pakistan Bureau of Statistics in a statement released on 17 December 2018.

It is pertinent to note that except readymade garments (RMG) and knitwear, most of the textile products could not fare well.

Knitwear segment earned US $ 1.2 billion through export during the July to November period of the current fiscal year at a growth of 10.5 per cent whereas for the same period in the last fiscal year, the figures were US $ 1 billion.

Similarly RMG earned US $ 1.02 billion during the same period of the current fiscal year whereas it was US $ 1.01 billion for the same period in the last fiscal year.