Textile exports grow 3.94% in six
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.