Textile exports tumble 36.5pc in May.

Byline: Mubarak Zeb Khan

ISLAMABAD -- Pakistan's textile and clothing exports tumbled for the third consecutive month in May falling 36.5 per cent year-on-year to $751.128 million compared to $1.185 billion in the corresponding month of last year, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday.

Compared to 64.5pc decline in April, when textile and clothing exports fell to $403.834m year-on-year-the lowest level in almost 17 years, month-on-month proceeds in May fared better owing to a recovery in international orders.

The easing of lockdown in the North American and European countries-top export destinations for Pakistani textile goods will help revive the sinking exports. The Covid-19 has collapsed the demand for country's exports during the last four months.

A significant decline was seen in trade shipments since Mar 15 - the date since coronavirus cases spiked in major export destinations especially in Europe and North America. However, exports on land routes were allowed in May to Iran and Afghanistan.

It was only in February when the textile and clothing exports jumped nearly 17pc on a year-on-year basis. This growth was reported after a long time as the past few years had been marred by single-digit increases.

Details showed ready-made garments exports dipped 46.28pc in value and drifted much lower in quantity by 68.16pc during May while those of knitwear dipped 33.93pc in value and 38.87pc in quantity, bed wear posted negative growth of 22.17pc in value and 29.28pc in quantity.

Towel exports fell 42.59pc in value and...