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Pakistan's textile exports dip marginally in July 2014
29
Aug '14
The exports of textiles and garments from Pakistan dipped marginally by 2.37 percent year-on-year to US$ 1.169 billion in the first month of fiscal year 2014-15 that began on July 1, according to the data released by the Pakistan Bureau of Statistics.
 
In July 2014, Pakistan’s knitwear exports grew by 21.66 percent year-on-year to US$ 238.733 million, while export of cott0n fabric declined by 8.13 percent to $211.587 million.
 
Similarly, bedwear exports fetched $195.876 million, showing an increase of 14.54 percent in July 2014, over $171.009 million worth of exports made in the corresponding month of last year. Readymade garment exports increased by 3.76 percent to $186.236 million, whereas cotton yarn exports fell by 35.32 percent to $131.297 million during the month under review.
 
On the other hand, the import of synthetic fibre by Pakistan surged 55.37 percent year-on-year to $43.448 million, whereas imports of synthetic and artificial silk yarn witnessed a growth of 41.14 percent to $61.401 million.
 
Meanwhile, the value of textile machinery imports made by Pakistan during the month rose by 23.26 percent year-on-year to $41.731 million, which shows that enterprises are continuing to invest in new machinery, in view of the European Union’s Generalised System of Preferences Plus (GSP Plus) status achieved by Pakistan from the beginning of this year.
 
To boost export of value-added textile items, the Government of Pakistan has announced repayment of customs duty paid on imported raw materials used in the manufacture of textile goods meant for export.
 
The imported raw materials cover a range of inputs including enzyme, Sodium Persulphate, Hydrogen Peroxide, Peroxide Stabilizer, Mercerizing Assistant, Sequestering Agent, Wetting Agent/Detergent, Acetic Acid/Neutralizing Agent, Provatex CP – a fire retardant chemical, Resin-Lyofix CHN, Turpex-Can strength improver softener, etc.
 
The repayment of duty would be available on the export of 100% cotton or blended polyester/ cotton/Trevira (all blends) dyed THPC fire or flame retardant woven fabric; 100% cotton dyed THPC fire or flame retardant (Provatex ACS special) woven garments; blended cotton/ polyester/Trevira (all blends) dyed THPC fire or flame retardant (Provatex ACS special) woven garments and many other textile products.
 

Fibre2fashion News Desk - India

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