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Pakistan records $141mn FDI inflows in May, down 17% MoM, 29% YoY

Pakistan records 1mn FDI inflows in May, down 17% MoM, 29% YoY

June 17, 2022 (MLN): Following touching a history substantial level past thirty day period, Pakistan’s textile exports witnessed a tumble of 5.6% in the month of May well 2022 to $1.64 billion, even though sustaining higher than the $1.5bn degree because October’21, the hottest data launched by the Pakistan Bureau of Figures (PBS) confirmed.

“Although the sturdy advancement in exports is attributed to orders positioned in anticipation of potent summertime need, the sequential decrease is owing to gas shortages owing to non-availability of LNG and Eid festivities through the month”, analyst at Intermarket Securities reported.

As for every the data, the big decline was witnessed in Knitwear exports, down by 12% Mom to $428mn. Exports of other value-additional segments these as Ready-created garments, Towel and mattress dress in also went down by 8% Mom 15% Mother and 1% Mom to $322mn, $92mn, and $281mn respectively.

Nonetheless, on a yearly foundation, textile exports witnessed a surge of 56% from $1bn in May’21.

During the eleven months (July-Might) of the latest fiscal yr, textile exports posted a growth of 28% YoY to $17.6bn when in contrast to $13.7bn recorded in 11MFY21.

In the benefit-included phase, knitwear, readymade garments, mattress-wear, and towels registered an upsurge of 50.8%, 65%, 55.4%, and 49%, YoY to $428mn, $321.6mn, $281.3mn and $92.2mn in the course of May possibly 2022 when compared to the exact month final yr.

Cumulative exports of benefit-extra segments in May’22 rose by a handsome 56% YoY on normal, led by the readymade garments and bedwear segments. In conditions of volumes, that of readymade garments increased by a sharp 73% YoY owing to very low foundation because of to depressed demand from customers as lockdowns prevailed in the West, while that of knitwear remained flat YoY. 

Meanwhile, the country exported food stuff commodities value $461.7mn throughout May perhaps 2022, registering a soar of 90% YoY although declined by 9.4% Mother.

Commodity-smart, rice and fish & fish preparations remained the major resources of foreign trade earnings through the review interval as their exports ended up valued at $224.7mn and $40.6mn, up by 112% and 30% YoY respectively.

The export price of meat and meat preparations clocked in at $27.5mn, up by 4% YoY.

In May well 2022, the export of petroleum products posted a expansion of 121.7% to $8.7mn. It was largely led by exports of petroleum merchandise (excluding Naphta) and petroleum crude, standing at $7.7mn, and $.94mn, depicting a advancement of 100% and 98% YoY respectively.

Going into facts manufactured accessible by PBS, the other manufactures group noticed a 36.6% YoY boost all through the moth to $323mn. Below this team, the trade worth of sports activities products stood at $33mn, up by 24% YoY.  The region earned $18.3mn by the export of leather-based manufactures, marking a growth of 17% YoY.

The exports of chemical and pharmaceutical merchandise witnessed an improve of 108.4% to benefit at $122.3mn through May perhaps 2022. The important chunk of exports below the chemical and pharma team all through the reported period of time was mostly from the other chemicals and plastic supplies which clocked in at $55.8mn and $47mn, exhibiting important expansion of 112% YoY and 108% YoY respectively.

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