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Pakistan's textile & garment exports plummet
31
Mar '12
The continued power crisis and decline in textile prices in the world market have resulted in a slump in Pakistan's textile and apparel exports during the initial eight months of the current fiscal that began on July 1, 2011.

As per Pakistan Bureau of Statistics (PBS) data, with a year-on-year dip of 7.5 percent the country's textile and garment exports for July-February period of 2011-12 plummeted to US$ 7.989 billion from exports of US$ 8.626 billion achieved during the corresponding period of previous fiscal.

During the period under review, raw cotton exports grew by 23.68 percent year-on-year, yarn (non-cotton) exports grew by 8.03 percent, readymade garment exports by 1.48 percent, tents by 155.98 percent and other textile materials by 3.36 percent.

However, the exports of cotton yarn slipped by 24.94 percent year-on-year, cotton carded by 61.19 percent, cotton cloth by 0.73 percent, towels by 5.23 percent, knitwear by 10.81 percent and bed-wear by 9.85 percent during the eight-month period.

Likewise, exports of art silk and synthetic textiles dropped by 8.90 percent year-on-year and that of made up articles by 8.98 percent during July-February period, the PBS data showed.

According to the data, in February 2012 Pakistan's overall textile exports dipped to US$ 1.046 billion, which is 12.03 percent lower than February 2011's exports of US$ 1.189 billion.

All Pakistan Textile Mills Association (APTMA) has projected that owing to the ongoing power crisis, Pakistan would only be able to export textile and clothing items worth US$ 11 billion by the end of the current fiscal, which will be around US$ 5 billion less than the target of US$ 16 billion set for the current fiscal.

Fibre2fashion News Desk - India

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