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Pakistan's textile & clothing exports dip in July-May

22
Jun '12
Weak demand from the EU and the US, the key export destinations, has resulted in a fall in Pakistan’s textile and clothing exports, which dipped by 9.961 percent during the first 11 months of the current fiscal ending June 30, 2012.
 
According to Pakistan Bureau of Statistics data, exports during the review period dropped to US$ 11.273 billion, against exports of US$ 12.472 billion achieved during July 2010 to May 2011 period.
 
The drop in demand is mainly because EU and the US, the two key export markets for Pakistani textile and clothing products are hit by financial crisis.
 
Against textile and garment exports of over US$ 14 billion clocked during last fiscal, the Pakistani Government has set a target of US$ 16 billion for the current fiscal. However, industry analysts do not see current year’s exports crossing the US$ 13 billion mark.
 
According to industry experts, along with Eurozone crisis, tough competition extended by India, China and Bangladesh at international level was also a reason for decline in textile and apparel exports from Pakistan. 
 
Category-wise, Pakistan’s raw cotton exports jumped by 31 percent during the eleven-month period, with China as the biggest importer. The high demand for cotton was due to India banning cotton exports for some months.
 
Exports of tents and canvas rose by 101.75 percent, while that of other textile materials by 4.77 percent.
 
However, exports of readymade garment dropped by 6.45 percent, bedwear by 15 percent, knitwear by 13.19 percent and towel by 9.51 percent.
 
During the same period, cotton cloth exports dipped by 3.13 percent, cotton yarn by 19.89 percent, cotton carded or combed by 61.58 percent and art silk by 15.9 percent.
 

Fibre2fashion News Desk - India


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