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Pakistan textile exports up four per cent

Pakistan’s textile exports during the first four months of the current financial year increased by 4.10 per cent. Knitwear exports were up 9.49 per cent. Bed wear exports grew up 5.72 per cent. However, exports of raw cotton from the country came down. The country’s merchandise trade deficit plunged by 33.52 per cent. Exports during the period increased 3.81 per cent. Imports into the country declined 19.21 per cent.

However, in the last four months of the current financial year, cotton yarn exports decreased by 2.14 per cent, cotton cloth exports by 4.83 per cent, and exports of tents, canvas and tarpulin by 1.58 per cent.

Textile exports in October grew about 7.44 per cent as against exports in October 2018. Exports of readymade garments grew by 12 per cent, knitwear by 9.49 per cent, bed wear by 5.72 per cent, towels by 0.80 per cent, art, silk and synthetic textiles by 9.46 per cent. Exports of raw cotton from the country during the period under review increased by 0.78 per cent, cotton carded or combed by 100 per cent and yarn other than cotton yarn by 21.24 per cent.

Pakistan’s textile industry has become viable after a gap of ten years, especially through the provision of regionally competitive energy tariffs. The industry witnessed a record 26 per cent growth in quantitative terms.