Home / Knowledge / News / Textiles / Exports from textile sector slip to near double digit mark
Exports from textile sector slip to near double digit mark
25
Jun '09
According to data released by the Federal Bureau of Statistics, exports from the textiles and clothing sector have dipped by 9.5 percent in the first 11 months of the current fiscal (July-June) due to a slowdown in global markets and a deepening energy crisis.

Exports from the sector fell from US $9.645 billion in the same period of the previous fiscal to $8.724 billion, in the period under consideration and also short by a long way from the target set for the sector of $11 billion for the current fiscal.

Industry experts attribute the fall in exports mainly to severe energy shortages, sharp depreciation in rupee versus US dollar and most importantly, weak external and domestic demand due to the global recessionary trends.

There were only a few textile products which were able to record positive export growth among which stood raw cotton with an increase of 27.74 percent, cotton (corded) 17.71 percent and towels 2.87 percent during the first 11 months of the current fiscal year.

Products which registered notable negative growth rates were cotton yarn by 15.95 percent, bedwear by 10.59 percent, ready made garments by 22.07 percent, synthetic textiles 23.71 percent and other textile articles were down by 17.41 percent.

The only saving grace has been that the overall trade deficit has fallen to $15.22 billion in the period under consideration from $18.8 billion in the same period of the previous fiscal, with exports touching $16.26 billion and imports $31.48 billion.

The textile industry is the backbone of the Pakistani economy since the last 50 years as exports from the sector account for nearly 50 percent of the overall basket of exports from the country, but in recent years has been hit hard due to a lot of reasons.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search