Textile exports earned $1.69B in February
Pakistan’s exports had witnessed a record increase of 26% during the eight months from July 2021 to February 2022 as compared to the same period of the last year, Minister of State for Information and Broadcasting Farrukh Habib said on Thursday.
“Our exports increased by 26% to US$ 20.552 billion as compared to US$ 16.324 billion during Jul-Feb 2021”, the Adviser said in a tweet.
The adviser further said that Imran Khan’s government soon after coming into power paid special attention to increasing the country’s exports and expressed confidence that it would achieve a historic surge in the exports by end of the fiscal year 2021-22.
“We would like to share that according to provisional (pre-PBS) data, exports in Feb 2022 have increased by 36 percent to USD 2.808 billion as compared to USD 2.068 billion in February 2021,” he said. “Our exports increased at the rate of USD 100million/day which is the fastest for any month.”
37% Increase in Pakistan’s Textile Exports:
Meanwhile, Pakistan’s textile exports witnessed an upward trajectory in the month of February this year thus increasing the exports by 37%, compared with the textile exports in the same month last year, according to the data shared by the All Pakistan Textile Mills Association (APTMA).
“Textile exports for the month of February 2022 have increased by 37% to $1.686 billion as compared to last year’s February 2021 to $1.234 billion,” APTMA wrote on Twitter while sharing the outstanding figures.
The exports of textile commodities during the first seven months of the current fiscal year increased by 24.73 percent as compared to the corresponding period of the year 2021, the Pakistan Bureau of Statistics (PBS) reported.
As per APTMA statistics, textile exports of the country faced a decline in December of last year. However, the exports picked up the pace again.
The figures issued by the APTMA show how Pakistan’s textile industry continues to grow strong. In fact, Pakistan’s textile exports earned $10.933 billion in seven months.