Pakistan’s exports witnessed an increase of 14% MoM during Nov’20
During Nov’20, Pakistan witnessed a hype in exports by 14%. However, the total exports of the FY21, so far, is less than the same period of 2019.
In November 2020, Pakistan’s exports witnessed an increase of 14% MoM and reached $2.27 billion. This is 5% higher than the exports of Nov’19.
However, the overall exports during Jul-Nov FY21 there has been a decline of 7% YoY to stand at $9.55 billion compared to $10.28 billion recorded during Jul-Nov FY20.
The textile industry remained the major contributor to Pakistan’s exports as it accounted for 56% of the total exports during the period of 5MFY21. The overall exports of the textile group dipped by 6% YoY to reach $5.37 billion from $5.68 billion compared to the same period last year. Within the textile group, the major exportable goods include Knitwear, Readymade Garments, Bedwears, and Cotton Cloth.
The export values of the textile products could be classified as:
- Knitwear exports increased by 2% YoY to $1.255 billion
- Bed wear exports increased by 2% YoY to $1 billion
- Ready-made garment exports dipped by 9% YoY to $1.02 billion
- Cotton cloth exports dipped 14% YoY to $736.3 million
Food products accounted for 16% of the total exports with a dip of 15% YoY to $1.529 billion. Rice and Fish & Fish Preparations were the major contributors where the export value was $722 million, showing a dip of 8% YoY for rice and a value of $158.5 million, showing a dip of 13% YoY for Fish & Fish Preparations.
Other Manufactured goods contribute a total export of 15.8% during the period under review. The major exportable manufactured items included Chemical and Pharmaceutical products, Leather products, Sports goods, and Surgical items and medical instruments.
It’s informed that the exports of leather manufactured items and Surgical Goods & Medical Instruments were increased by 9% YoY to reach $228 million and $197.2 million respectively.
Exports of Chemical and Pharma Products increased by 5% YoY to $437 million. The Sports goods witnessed a dip of 8% YoY to $201.8 million.
The Petroleum group in the country contributed a total share of nearly 1% during July-Nov FY21 and earned $33.78 million from exports of Petroleum Crude, $7.2 million from Petroleum Products, and $44.64 million from the exports of Solid Fuel including Naphta.
It is further informed that this is a dip of 62% YoY to $85.64 million from $223.88 million in July-Nov FY20.