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Summary of T&G sector in Pakistan
06
Feb '09
Pakistan is also going through a period of crisis, as faced by many other Asian countries like China, India and Vietnam in the exports of textiles and garments since the last few months. This has primarily come about. due to the recessionary trends prevailing across global markets, particularly in US and EU, which are key markets for the country.

Though, thankfully exports by volume from the textile and garment sector, which accounts for 65 percent of all shipments from the country have grown in the period July- December, but at the same time there has been erosion in the turnover value of exports, as the exporters were compelled to sell at a far lower per unit price, than those prevailing a year, earlier.

For instance, price of raw cotton plunged by as much as 9.25 percent to US $975.4 per MT compared to $1074.71 per MT prevailing in the same period of 2007. Per unit value of cotton fabrics fell from $0.99 per sq. metre to $0.95 per sq. metre. Apparels also witnessed a fall of 3.46 percent in value, in the period under review.

Among the leading product categories, where the decline was substantial were, tent and canvas 13.80 percent, art, silk and synthetic 11 percent, bed wear 11.48 percent, knitwear 10.65 percent and towels 5.16 percent. The only saving grace, in the otherwise falling value of all products was that value of made-ups (excluding towels and bed wear), recorded a growth of 2.71 percent, while that of cotton yarn stayed flat.

Overall exports from the textile and garment industry in the period July-December fell by 1.79 percent, which would make it hard for the sector to achieve its targeted figure of $22 billion in the current fiscal ( July-June).

Fibre2fashion News Desk - India

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