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Raw cotton worth $17.005m exported in 11 months of last FY

Raw cotton worth $17.005m exported in 11 months of last FY

ISLAMABAD: Raw cotton exports from the country during first 11 months of fiscal year ended on June 30, 2020 registered an decreased of 9.93 percent as compared the exports of the corresponding period of last year.

During the period from July-May, 2019-20, about 12,776 metric tons of raw cotton worth$17.005 million exported as compared the exports $18.879 million of the same period of last year.

According the data of Pakistan Bureau of Statistics, about 11,790 metric tons of raw cotton were exported during 11 months of last financial year.

During the period under review,376,286 metric tons of cotton yarn valuing $910.582 million were also exported as against the exports of 403,580 metric tons worth$1.048 billion of same period of last year.

The exports of cotton yarn registered negative growth of 13.12 percent, the data revealed. However, in 11 months of last fiscal year, the exports of art, silk and synthetic textile grew by 6.45 percent as these commodities worth $290.525 million exported as compared the exports of $272.910 million of same period of last year.

It may be recalled that overall textile group from the exports during eleven months of last financial year went down by 6.06 percent and was recorded at$11.567 billion as compared the exports of $12.313 billion of same period last year.

The negative growth in textile sector exports were mainly attributed to global spread of Cocid-19 pandemic which had effected the economies of the world as well as harmed the local economy.

However, the country managed to earn $412.333 million by exporting other textile materials which was registered at $359.627 million during same period of last year.

The exports of other textile materials witnessed about 6 percent growth during the period under review, the data revealed.