Textile exports grow 3.94% in six months

Pakistan’s textile exports have recorded growth of 3.94% in the first six months (July to December) of the on-going financial year (FY2019-20) mainly due to cash support to various sectors and currency depreciation. The country has exported textile commodities worth US$ 6.91 billion in the July-December period of FY20 as compared to US$ 6.64 billion in the same period of last year.

Growth in the textile sector exports has helped in increasing the overall exports of the country, which have increased by 3.14% to US$ 11.53 billion in the period under review. Exports are increasing due to currency depreciation and the government’s cash incentive packages to the various sectors.

In the value-added sector, exports of knitwear were up by 7.59% followed by 3.16% in bed wear. Exports of ready-made garments rose by 12.08% while proceeds from towel only inched by a modest 0.22%. The data showed that exports of cotton cloth had recorded a decline of 3.7%. Exports of tents, canvas, and tarpaulin witnessed a decrease of 19.68%. Meanwhile, exports of made-up articles (excluding towels and bed wear had declined by 5.97%. The slight increase shows that the depreciation of the rupee has helped Pakistani exporters to get market access and compete with Chinese and Indian exporters.

 

 
Copyright 2020 Ptj.com.pk   Design: PTJ Graphics