Pakistan’s Textile Machinery Imports Fell By 33.9 Percent In July – Research Snipers

Pakistan’s Textile Machinery Imports Fell By 33.9 Percent In July

Textile machinery imports fell 33.9 percent in July, according to the Pakistan Bureau of Statistics (PBS) Islamabad. During July 2020, imports of textile machinery decreased by 33.9 percent. According to a report by the Pakistan Bureau of Statistics (PBS), imports fell to $32.8 million in July 2020 from $49.7 million in the previous year July 2019.

Thus, compared to July 2019, during July 2020, the national textile imports recorded a decrease of 16.9 million, which is about 34%. Pakistan’s Textile industry is one of the key players in revenue generation from exports, the imports for textile machinery depend on the local production level, the more the production is the higher the machinery imports are; however, due to coronavirus the local production has been affected adversely. According to a report, Pakistan had to face the cancellation of textile orders worth $1.3 billion in March.

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