ISLAMABAD: Raw cotton exports from the country during the first 11 months of FY20 registered a decrease of 9.93 per cent compared to raw cotton exports of the corresponding period of last year.
During July 2019 to May 2020, about 12,776 metric tonnes of raw cotton worth $17.005 million were exported, compared to the export of 11,790 metric tonnes of raw cotton worth $18.879 million in the same period of last year.
During the period under review, the export of cotton yarn registered a negative growth of 13.12 per cent, and was recorded at 376,286 metric tonnes valuing $910.582 million compared to the exports of 403,580 metric tonnes of cotton yarn worth $1.048 billion in the same period of last year.
In comparison, during the 11 months of FY20, the exports of art, silk and synthetic textile grew by 6.45 per cent to $290.525 million compared to $272.910 million in the same period of last year.
Overall exports of the textile sector during eleven months of FY20 went down by 6.06 per cent and were recorded at $11.567 billion compared to $12.313 billion during the same period of last year.
The negative growth in textile sector exports was mainly due to the global spread of Covid-19 pandemic which has negatively affected foreign economies as well as the local economy.
However, exports of other textile material witnessed a 6 per cent growth and stood at $412.333 million during the first eleven months of FY20, compared to $359.627 million, during the same period of last year.