3.93m cotton bales production a good omen for Pak economy


Pakistan’s cotton industry has experienced a remarkable surge in cotton bales production till September 15, 2023, as with the fresh arrival, Pakistan Cotton Ginners Association (PCGA) has released yield figures, indicating a robust performance in the sector.
The PCGA official sources told APP with figures that till September 15, 2023, cotton arrivals soared to 3.933 million bales, which is signifying a remarkable 79.87 per cent year-on-year (YoY) increase, compared to the same time period last year when arrivals stood at 2.187 million bales.

The substantial growth in cotton arrivals is a promising sign for Pakistan’s cotton industry, which plays a pivotal role in the nation’s economy. Cotton and textile exports have remained pillars of Pakistan’s economy, the sources said. It is worth mentioning here that cotton arrivals from Sindh have increased by a staggering 2.15 times YoY, reaching 2.389 million bales. This surge reflects a growing focus on enhancing cotton production in the province, they said.
Likewise, the Punjab province, being another significant critical cotton-producing region, has shown considerable yield. Cotton arrivals from Punjab surged by 44 per cent YoY, with outcome of total 1.544 million bales. This impressive number marks a 44.57 per cent increase compared to the 1.068 million bales reported just two weeks earlier, the PCJA data reveals.
It is pertinent to mention here that globally, Pakistan has long been recognised as one of the top ten cotton producing countries, and the timely growth in cotton arrivals, reinforces its significant position in the international cotton market. Cotton being cash crop, and textile products continue to be major exports for the country, contributing remarkably to Pakistan’s economic stability and foreign exchange earnings.

The surge in cotton arrivals is not only a testament to the dedication and efforts of Pakistan’s cotton industry but also augurs well for the nation’s broader economic outlook. As the cotton sector continues to thrive, Pakistan’s role in the global textile market is set to remain more strong, sustaining employment and supporting economic growth.
Exports from the country in the rupee term witnessed an increase of 22.45 per cent during the first two months of the current fiscal year as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.
Meanwhile, it is a good sign for the national economy that exports during July-August 2023-24 were recorded at Rs.1,276,238 million as against Rs.1,042,226 million during the corresponding period of last year, showing an increase of 22.45 per cent, according to provisional data released by the PBS.
On a year-on-year basis, the exports during August 2023 increased by 26.75 per cent and were recorded at Rs.695,136 million compared to the exports of Rs. 548,440 million in August 2022.
On a month-on-month basis, the exports increased by 19.62 per cent when compared to the exports of Rs. 581,102 million in July 2023.