Textile imports decline almost 12%

Overall imports during July-August 2012 have declined 1.99%.

ISLAMABAD:

Textile imports into the country fell by 11.7% in July-August 2012 against the same period of the preceding year. Overall imports of textiles clocked in at $374.34 million during the first two months of the current fiscal year, against imports of $421.43 million during the same period last year.

According to data compiled by the Pakistan Bureau of Statistics, imports of synthetic fibre shrank by 28.51% during the period under review. Synthetic fibre imports into the country were recorded at $62.73 million in July-August 2012, against imports of $87.75 million during July-August 2011. Meanwhile, imports of raw cotton increased by 22.24%, growing from $92.25 million to $112.77 million. Additionally, imports of worn clothing increased 23.79%, going up from $20.29 million to $25.12 million.

Imports of synthetic and artificial silk yarn were recorded at $84.75 million during the period under review, against imports of $111.86 million in the previous year, translating into negative growth of 24.24%. Similarly, imports of all other textile items registered negative growth of 18.58%, decreasing from $109.28 million to $88.97 million.

Meanwhile, during the month of August 2012, textile imports into the country declined by 1.85% and 10.78%, if compared to import figures from August 2011 and July 2012 respectively. Textile imports in August 2012 stood at $176.51 million, against imports of $179.83 million and $197.83 million in August 2011 and July 2012 respectively.

It is pertinent to mention here that overall imports into the country during the period under review have witnessed a decrease of 1.99%. Total  imports were recorded at $7.35 billion in the first two months of fiscal 2013, against imports of $7.50 billion in the preceding year, the statistics agency’s data revealed.

Published in The Express Tribune, September 26^th, 2012.