Due to the massive depreciation in rupee value and a steady rise in global demand, textile and clothing exports grew 26% yearly to $9.38 billion in the first half of the current fiscal year. According to the Pakistan Bureau of Statistics, the year on year growth in December was recorded at 15.89%. In 2020-2021, the government reduced duty and taxes on importing several raw materials to bring down the input cost of exportable products. Pakistan’s textile sector has capitalised on the increased demand for textile products. The textile products found their way in US and European markets, where Pakistani textile goods have been used in large quantities in recent months. The demand increased when the COVID-19 restrictions were lifted globally, resulting in the textile sector’s growth.
The textile machinery imports jumped 88.24% in July-December, reflecting expansion in the industry. The industry imported 377,573 tonnes of raw cotton in July-December compared to 331,583 tonnes a year ago, increasing 13.88%. Data showed that ready-made garment exports jumped 22.93pc in value while knitwear exports were 35.21% but decreased 0.17% in quantity. Among the primary commodities, cotton yarn exports surged 52.33%. The exports of made-up articles, except towels, rose.
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