Pakistan’s textile exports grew 24.24 per cent in October 2021. As per Pakistan Textile Exporters Association (PTEA) chairman the textile export industry is entering the phase of sustainable economic growth after attaining stability and expects the segment to keep moving forward to achieve lofty growth rate. In the first quarter of the fiscal year textile exports grew 26.55 per cent compared to the same quarter of the previous year. The higher textile exports came on the back of strong growth in value-added products, particularly knitwear, home textiles, bed wear, towels and made up articles. Shipments of bed wear during the quarter grew by 21.3 per cent in terms of value. Exports of towels rose by 14.17 per cent compared to the same quarter of the previous year. In volumetric terms they increased by 7.75 per cent. Shipments of readymade garments surged by 22.34 per cent year on year and in terms of volume they increased by 20.5 per cent compared to the same quarter of the previous year.
Keeping in view the rebound in textile exports, Pakistan expects to achieve its export target owing to the export-oriented policies and the strong economic recovery in major export markets. The textile export industry is entering the phase of sustainable economic growth after attaining stability. The segment is anticipated to keep moving forward. The value-added sector is the main engine of growth since Pakistan’s exports of raw cotton, cotton yarn and cotton cloth have shown a declining trend.