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Pakistan’s textile exports up seven per cent

Pakistan’s textile exports increased 7.18 per cent in the first seven months of current fiscal year. Exports of raw cotton grew by 48.72 per cent. Knitwear exports increased 13.27 per cent while exports of yarn (other than cotton yarn) increased by 29.93 per cent. Bed wear exports from the country increased 5.62 per cent while towel exports increased by 1.01 per cent. Exports of readymade garments increased by 13.93 per cent while exports of art, silk and synthetic textile increased by 93.54 per cent.

During the period under review, exports of made up articles (excluding towels and bed wear) also increased by 6.72 per cent. However, exports of cotton yarn declined by 1.42 per cent while exports of cotton (carded or combed) decreased by 95.71 per cent. Exports of tents, canvas and tarpaulin decreased 33.39 per cent.

Among the reasons for increase in exports are: flow of cash under the PM's incentive package, payment of sales tax refunds as well as the depreciation of the local currency, which improved exporters’ liquidity situation. Major measures have been introduced to facilitate duty drawback of local taxes. Pakistan’s textile exports rose ten per cent in December 2017 compared to December 2016.