The decrease in demand from its key markets of Europe and the US has resulted in a 20 percent year-on-year decline in Pakistan's textile and garment exports in December 2011.
Pakistan exported textiles and garments worth US$ 944.267 million during the month, compared to its exports of US$ 1.169 billion achieved during December 2010, as per figures released by Pakistan Bureau of Statistics.
This is the third consecutive month that Pakistan has witnessed a decline in its textile and clothing sector exports, which has raised concerns that fall in export revenues may lead to layoffs in the country's textile and garment industry.
Yarn other than cotton yarn and tents were the only categories that showed substantial growth in exports during the month under review, compared to previous year.
Exports of raw cotton, carded cotton, cotton yarn and finished goods like towels, knitwear, bed wear and apparels witnessed negative growth in December over previous year.
During July-December 2011, Pakistan's textile and apparel exports fell to US$ 5.963 billion, down 4.68 percent from exports of US$ 6.255 billion registered during the corresponding period of 2010.
During the six-month period, import of machinery for textile industry was down by more than 10 percent, which reflects that expansion plans have been put on hold at present.
Fibre2fashion News Desk - India