Pakistan Textile Exports Spurred during the last 9 months – Research Snipers

Pakistan Textile Exports Spurred during the last 9 months

Years of facing difficulties in the Textile sector, Pakistan is now looking to come out slowly from this bog. The country’s textile group exports collectively increase by 7.77% during the first three quarters of the current fiscal year 2017-18 as compared to the previous year corresponding period.

Total textile exports were recorded at $9.99 billion during the period from July to March 2017-18. The exports were $9.27 billion in 2016-17 corresponding the same first three quarters according to the data revealed by Pakistan Bureau of Statistics PBS on Monday.

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Products that contributed most in the export revenue included raw cotton, grew by 35.76% nearly $55.82 million during the period under review as compared to previous $41.12 million. Knitwear exports also contributed in exports revenue which jumped from $1.7 billion to $1.98 billion, knitwear exports saw an increase of 14.12% during the first three quarters of 2017-18 as compared to the first three quarters of 2016-17. Yarn exports also increased from $17.75 million to $23.32 million, there was a whopping increase of 31.34% in yarn exports during the period.

However, bed wear exports saw a marginal increase of 4.99% from $1.56 billion to $1.67 billion during this period, towel exports also increased by 1.18% from the total $591.28 million to $598.245 million during this period.

Additionally, readymade clothing exports increased by 12.56% which is a good percentage as compared to other finished textile products. Readymade garments grew from $1.7 billion to $1.9 billion during the period under review. However, exports of Synthetic textile, silk, and art has phenomenally increased by 70.39% from $133.673 million to 227.771 million.

Cotton cloth (unstitched) also saw some growth of 1.05% during this period which jumped from $161 billion to $1.63 billion during the period July-March 2017-18.

Some textile products witnessed negative growth as well including cotton (carded or combed), the exports declined by 97.98%.