Non-textile exports post double-digit growth in FY21 – Journal

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ISLAMABAD: Pakistan’s non-textile exports increased 11.7% year-on-year to $ 9.904 billion in 2020-2021 due to the partial resumption of international orders and government support programs.

The overall growth of the non-textile sector is mainly driven by value-added sectors. The non-textile sector has yet to receive full orders at pre-Covid levels, data compiled by the Pakistan Bureau of Statistics (PBS) showed.

In FY21, three sectors – leather garments, surgical instruments and engineered products – sustained growth in export earnings despite lockdowns in many countries. In the value-added leather sector, exports of leather garments increased by 14.02 pc and leather gloves by 22.26 pc respectively. Exports of rawhide fell by more than 12.04% in FY21, mainly showing that it is used in domestic value-added industries.

Pakistan is one of the world’s leading suppliers of surgical instruments. However, these instruments are remarketed from Western countries with well-known brands. As a result, the export value of these products remains much lower.

Exports of surgical instruments grew 20.36 percent to $ 428.008 million in FY21 from $ 355.617 million last year, followed by a 28.46 percent jump in pharmaceuticals at $ 270.142 million compared to $ 210.299 million last year.

Footwear exports increased 4.72% year-on-year to $ 131.889 million, driven by leather and canvas footwear. Exports of engineering products grew 30.91% year-on-year to $ 226.024 million in FY21, followed by 37.60% of electric fans to $ 32.444 million and cement by 3, 26% to $ 267.910 million on an annual basis.

In the 2021-2022 budget, the government proposed several measures, including a reduction in tariffs on raw materials to promote exports of value-added pharmaceuticals, plastics, chemicals, engineering and textiles.

Food shortages in the domestic market and lower demand in the international market have resulted in an overall decline in demand for Pakistani food products, especially fruit.

Data compiled by the PBS showed the food basket grew paltry 0.74% in the outgoing fiscal year to $ 4.393 billion year-on-year.

In this category, rice exports fell by 6.17 pc. On the other hand, basmati exports fell by 26.51 pc in value and 27.35 pc in quantity, while non-basmati exports increased by 5.26 pc in value.

Spice exports increased by 5.34pc, followed by oilseeds, nuts 212.64pc, meat and products by 9.62pc, fish and fishery products by 1.85pc during the period under review. On the contrary, exports of overseas sales of vegetables up 7.14pc, fruit 11.16pc, tobacco 0.49pc.

Posted in Dawn, July 21, 2021


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