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Pakistan’s textile exports up two per cent

Pakistan’s textile and clothing exports rose two per cent year-on-year in the first eight months of the fiscal year. The primary growth driver was, value-added textiles. Readymade garment exports went up 2.72 per cent in value and 27 per cent in quantity. Exports of knitwear edged up 11.4 per cent in value and 18.3 per cent in quantity. Exports of non-textile products went up by 3.15 per cent. Exports of petroleum products went up 23.64 per cent. Petroleum crude and naphtha led the increase in the sector’s exports.

Footwear exports jumped 14.55 per cent mainly driven by footwear sales. Exports of surgical goods and medical instruments went up by 1.71 per cent. Exports of gur were up by 6.58 per cent, cement by 37.5 per cent and gems by ten per cent during the period under review. Basmati rice exports witnessed a robust growth of 14.8 per cent. Meat and wheat emerged as the other two major export commodities which recorded growth during the period. Other products which also posted growth include oil, fish, seeds, pulses, spices, fruits, vegetables and tobacco.

One of the reasons for the revival of exports was a cash subsidy. Pending refunds to taxpayers were released.