Pakistan's hosiery exports to China surged by 45 per cent in 2023, as per a report by Gwadar Pro
Pakistan’s hosiery and cotton footwear exports combined surged by 51 per cent during the year to $11.55 million compared to $7.61 million in 2022, notes Muhammad Irfan, Trade and Investment Counselor, Consulate General of Pakistan.
This surge not only underscores the strengthening trade ties between the two nations but also highlights Pakistan's growing prominence in the global textile market, adds Irfan.
According to him, the growth could be attributed to several factors including supply of good quality products and cost-effectiveness. In 2023, Pakistan exported hosiery products worth over $14.32 million to China, compared to $9.81 million in 2022.
The participation of the largest Chinese delegation in Texpo, one of Pakistan's largest textile exhibitions held last year, also facilitated this increase in Pakistan's exports to China. The upcoming Texpo exhibition in 2024 is expected to fuel further growth in bilateral trade between the two countries. .
The momentum gained from this surge will enable Pakistan to capitalise on the evolving dynamics o international trade and enhance its economic standing on the global stage, avers Irfan. The surge in hosiery exports to China will boost the country’s export earnings, bolster foreign exchange reserves, create employment opportunities, and stimulate growth in the domestic textile sector, he adds.
