Pakistan’s textile and clothing exports witnessed a growth of 9.99 per cent in the first quarter of the current fiscal compared to last year. Export proceeds from these sectors rebounded following substantial increase in export of raw cotton and value-added products, reveals data Pakistan Bureau of Statistics. Export of textile and clothing surged to $3.576 billion in July-Sept 2013 up from $3.251billion during the corresponding months of last year.
A sector-wise analysis showed that export of low value-added products, such as cotton yarn, was up by 8.55 per cent, cotton cloth 4.01 per cent, made-up articles 9.95 per cent, and other textile material 10.84 per cent in first three months of the current fiscal year over same months last year.
Depreciation of Pakistani currency is also one of the catalyst for export increase during the first quarter of the current fiscal year. In terms of rupees, exports proceeds witnessed a growth of 19.82 per cent in July-September 2013 this year from a year ago.
Cotton carded, yarn other than cotton yarn, towels and art silk products witnessed a negative growth in July-Sept 2013 over the same months last year. Exports witnessed a growth because of increase in export to the European markets owing to preferential market access on selected products.
The growth in yarn and fabric exports was mainly due to improved energy supply. Total export proceeds witnessed a growth of 9.23 per cent to $6.712 billion in July-Sept 2013 from $6.144 billion over the corresponding period of last year.