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Pakistan's textile exports stay stable in July-Feb 2014-15
24
Mar '15
The exports of textiles and garments from Pakistan remained almost stable and earned US$ 9.179 billion in the first eight months of fiscal year 2014-15 that began on July 1, 2014, compared to exports of $9.136 billion in the corresponding period of previous fiscal, according to the data released by the Pakistan Bureau of Statistics.
 
In July-February 2014-15, Pakistan’s knitwear exports grew by 9.48 per cent year-on-year to US$ 1.622 billion, while exports of non-knit readymade garments were up by 10.54 per cent to $1.384 billion.
 
Raw cotton exports fetched $139.341 million in the eight-month period, showing a drop of 14.56 per cent compared to exports of $163.093 million made during the corresponding period of previous fiscal. Likewise, cotton yarn exports fell by 4.76 per cent to $1.327 billion, as against exports of $1.394 billion made during the same period last fiscal. 
 
Exports of cotton fabric dropped 12.35 per cent to $1.646 billion during the period under review, while bedwear exports declined by 0.33 per cent to $1.418 billion, the data showed.
 
The increase in exports of garments along with a decline in exports of raw cotton, yarn and fabric, however, is a good sign for Pakistan’s value-added textile industry, as the country is exporting more finished goods compared to last fiscal.
 
On the other hand, the import of synthetic fibre by Pakistan surged 28.06 per cent year-on-year to $358.998 million, whereas imports of synthetic and artificial silk yarn witnessed a growth of 19.99 per cent to register $437.805 million. This shows that textile enterprises have increased the use of synthetic fibre and yarn in recent months.
 
Meanwhile, the value of textile machinery imports made by Pakistan during the period decreased by 22.75 per cent year-on-year to $284.456 million, which points at lower intent of entrepreneurs to invest in the industry.
 
In 2013-14, Pakistan textiles and garment exports grew by 5.3 per cent year-on-year to US$ 13.738 billion, with knitwear and woven garment exports registering a growth of 10.53 per cent and 8.67 per cent, respectively. (RKS)
 

Fibre2fashion News Desk - India

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