During the first three quarters of this year, Pakistan’s readymade garment exports showed an increase of 4.2 per cent in terms of value and 1.56 per cent in term of quantity. During July-March 2016 knitwear production showed a growth of 9.70 per cent. There are about 13,372 circular knitting machines, 10,646 flat knitting machines and 23,241 socks knitting machines spread all over the country. The capacity utilization is around 70 per cent.
There is greater reliance on development of the hosiery industry as there is substantial value addition in the form of knitwear. Besides locally manufactured machinery, liberal imports of machinery under different modes are also being made and capacity based on exports is being developed. Earnings as compared to last year were due to lower commodity prices globally.
The readymade garment industry has emerged as one of the important small scale industries in Pakistan as its products have a higher demand both domestically and globally. The local requirements of readymade garments are almost fully met by this industry. The garment industry is also a good source of providing employment opportunities to a large number of people at a very low capital investment. Export earnings from garments have increased significantly.