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Pakistani textile exports foray in to new markets
26
Jun '10
For the ongoing fiscal year, Pakistan has found a new market for exporting its textiles, thereby, indicating a major shift from the conventional markets.

But amongst the textile goods, only raw cotton has registered major shift of destination, which is an upbeat move for the country, as over the years, it was heavily dependent on the conventional markets, informed exporters and analysts.

Exports of textile witnessed a significant rise in the existing market and at the same time were able to widen their customer base by exporting to markets such as Singapore, Turkey and Portugal.

According to a textile industry analyst, widening of customer base is an indication of an optimistic future, as it depicts less dependency on he existing markets, a trait more acceptable when seen further down the value chain.

But, this analyst also cited that, no such movement were observed in the readymade apparels sector, which is a high-end good in the textile chain. It is also an area wherein the major customer base comprises of the same nations, with about no new additions during the said period.

As compared to the decreased numbers recorded during the last financial year, textile exports have now recovered. But analysts pressed upon the need for further increment, both with respect to exploring new market avenues and adding more value-added products to the country's portfolio, so as to completely exploit the nation's strength in the agriculture and textile sectors.

Increasing the market reach is a vital ingredient if the country needs to continue its dependence on the textile sector for foreign exchange and trade surplus in the coming years, added experts.

During the eleven months of the current fiscal, Pakistan textile exports, witnessed a rise of seven percent. The textile group, contributes about 53 percent to the country's net exports, therefore, the 7 percent rise indicated an addition of $91.5 million, raising the textile exports to the heights of $9.324 billion

Fibre2Fashion News Desk - India

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