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Pakistan's textile & garment exports grow in 2013-14
23
Jul '14
The exports of textiles and garments from Pakistan grew by 5.3 percent year-on-year to US$ 13.738 billion in the fiscal year 2013-14 that ended on June 30, according to the latest data released by the Pakistan Bureau of Statistics.
 
During July-June 2013-14, the exports of cotton cloth fetched $2.773 billion, showing a growth of 3.11 percent over exports worth $2.689 billion made during the previous fiscal year.
 
Knitwear exports jumped 10.53 percent year-on-year to $2.258 billion during the year, while woven garment exports shot up by 8.67 percent to $1.955 billion, as per the data.
 
The exports of raw cotton from Pakistan jumped 33.27 percent year-on-year to earn $205.139 million in revenue during the year, while its imports declined by 34.87 percent to $573.867 million.
 
The import of synthetic fibre by Pakistan increased by 13.01 percent year-on-year to $442.602 million, whereas imports of synthetic and artificial silk yarn witnessed a growth of 15.36 percent to $624.049 million.
 
Meanwhile, the value of textile machinery imports made by Pakistan during the year surged up by 54.28 percent year-on-year to $599.219 million, which shows that enterprises have started investing in new machinery, especially after the country attained European Union’s Generalised System of Preferences Plus (GSP Plus) status from the beginning of this year.
 
Pakistan is expecting a $1 billion growth in its annual textile and apparel exports following the country gaining EU’s GSP Plus status.
 
Last week, Commerce Minister Khurram Dastagir Khan said the Government is planning to revive the closed textile units, so as the increase the country’s annual exports by $1 billion and create about 100,000 new jobs in the process.
 

Fibre2fashion News Desk - India

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