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.
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%.