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Cotton exports help avoid massive decline in growth rates
23
Sep '08
According to data released by the Federal Bureau of Statistics, exports of textiles and apparels from Pakistan are still in a state of decline.

For the first two months of the Pakistan current fiscal year (July-June), shipments fell to US $1.75 billion compared to $1.83 billion in the corresponding period of the previous fiscal, resulting in a negative growth of 4.21 percent.

Most of the products in the basket of textiles and garments, more in particular the garment category delivered a poor performance vis-à-vis the same period of the last fiscal.

Exports from the sector for July amounted to $853.51 million and that for August totaled to $905.91 million. De-growth was more noticeable in value added categories like bed-wear and knitwear which recorded negative growth rates of 8.52 and 12.51 percent respectively.

Ready made garments were the only major category to get away with a marginal 3.62 percent decline.

The shipments from the textile category were even more alarming. Exports of cotton yarn declined by 21.24 percent, of carded yarn fell by a shocking 54.79 percent and shipments of synthetic yarns dropped by 18.15 percent.

The only saving grace was the exports of raw cotton, exports of which rose by a tremendous 236.34 percent in the period under review. If exports of cotton were not to be considered the fall in growth rates would have been phenomenal.

The other category which helped the sector from recording dismal figures was the exports of art, silk and synthetic textiles which grew by 42.93 percent.

Fibre2fashion News Desk - India

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