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Tables turn on fortunes of exports from T&G sector
24
Mar '09
Textile and garments exports from Pakistan contribute a substantial chunk to the overall basket of exports from the country, as much as 70 percent and clocking solid growth rates in the previous years and also increasing its share in total exports.

But with the unfolding of the economic crisis, the tables have been turned on the fortunes of this once very vibrant industry. Non-textile exports have posted a grand growth of 18.28 percent in the first eight months of the current fiscal (2008-09).

This growth in non-textiles shipments has come at a time when exports from the textile and garment sector have fallen by 5.60 percent, compared to the same period of the previous fiscal, which goes to show that exports are no more dependent on traditional products.

Exports from the traditional textile and garment sector fell from US $6.58 billion to $6.47 billion and that of non textiles like rice, seafood, engineering, chemicals, sports goods, etc grew from $4.80 billion to $5.68 billion in the period July '08 to February '09.

From amongst the textile sector, while exports of some category products grew handsomely, that of others fell sharply or marginally. Shipments of raw cotton grew by a staggering 154 percent, terry towels 10.02 percent and cotton fabrics 5.57 percent.

The categories with the highest negative growth rate were non-cotton yarn 51.24 percent, carpets 29.26 percent, art silk and synthetic textiles 23.45 percent, canvas and tarpaulin 21.18 percent, cotton yarn 15.28 percent and ready made apparels 12.43 percent.

Fibre2fashion News Desk - India

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