Textile, food sectors push up exports

Karachi—Rapid growth in textile and agro food sectors has significantly contributed to country’s exports during May 2011, as textiles having 55 percent share in total exports, grew by 46.23 percent and food group surged by 66.24 percent over the same month of last year.

According to the latest trade figures compiled by Trade Development Authority of Pakistan (TDAP), exports from Pakistan during May, 2011 were $ 2.3 billion, which is 32% higher than May of last year.

Growth in manufacturing sector exports, were however, declined by 2.6 percent and petroleum group exports surged by 11.7 percent. The cumulative exports for the period July-May 2011 totaled $ 22.412 billion, as against $ 17.509 billion during the corresponding period of last year, showing an increase of 28%.

Consolidated export figures for July-May period shows that textile sector was the driving agent in reaching this level exports.

Cotton cloth and knitwear were the top export products and their export grew by 40.6% and 30%, respectively. Cotton yarn, rice, bed wear, and readymade garments were the items which have each crossed the $ 1.5 billion mark during the 11 months of the fiscal year 2010-11.