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2008-09 proves to be worst year in decade for textile exports
27
Jul '09
The Pakistan economy which is heavily dependent on the textile sector due to its employment potential as well as foreign exchange earnings has been facing rough weather since the unfolding of the economic crisis, last September.

Exports from the sector have fallen roughly by 10 percent, making it the biggest fall in the last ten years. The sector in addition had to face hardships of energy shortages along with a financial credit crunch.

During the just completed fiscal year ending June 2009, exports from the textile sector touched US $9.65 billion, compared to $10.57 billion in the previous fiscal, leading to a negative growth of 9.53 percent.

The only segments to deliver a positive growth are were exports of raw cotton, up 25.45 percent, cotton carded or combed yarn, up 26.79 percent and shipments of towels rose by 2.38 percent in the just completed fiscal against previous year.

Export of cotton yarn fell 15 percent to $1.10 billion when corresponded with $1.30 billion in the previous fiscal year. However the growth rate of knitwear fell marginally by just 0.47 percent in falling to $1.72 billion from $1.73 billion.

Tents, canvas & tarpuline exports dipped by 18.86 percent, art, silk & synthetic textile fell by 22.14 percent, madeup articles (exclusive bedwear) 8.94 percent and exports of other textile materials was down by 17 percent.

Bedwear exports fell to $1.70 billion from $1.90 billion, to touch a negative growth of 10.19 percent. One of the biggest falls was recorded by shipments of clothing which declined to $1.24 billion against $ 1.59 billion, to post a fall of 21.68 percent.

Exports of cotton fabric declined to $1.92 billion from $2.01 billion to register a negative rate of 4.05 percent and exports of man-made fibre yarn recorded an awesome fall of 44 percent.

Fibre2fashion News Desk - India

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