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Pakistan's textile exports plummet in FY12

Jul '12
The textile industry of Pakistan showed a fall in exports during last fiscal that concluded on June 30, 2012. 
According to the export-import data released by Pakistan Bureau of Statistics (PBS), with a year-on-year decline of 10.38 percent, textile sector’s cumulative exports for last fiscal plummeted from previous year’s US$ 13.78 billion to US$ 12.35 billion.
Export of value-added items like bed wear, knitwear, readymade garments and towels declined during the year, mainly due to severe energy crisis and reduced domestic demand.
Sub-segment wise, raw cotton exports for the period rose by 26.6 percent year-on-year to US$ 462 million, while exports of tents, canvas and tarpaulin soared by 110 percent to US$ 98.8 million.
Exports of all other textile items that involve high value addition and comparatively more energy consumption dipped in the range of 6 to 64 percent year-on-year.
Cotton yarn exports dipped by 18.5 percent year-on-year to US$ 1.79 billion, knitwear by 14.4 percent to US$ 1.97 billion, cotton fabric by 6.2 percent to US$ 2.45 billion, bed wear by 16 percent to US$ 1.75 billion, art, silk and synthetic textiles by 10.8 percent to US$ 542 billion, readymade garments by 7.8 percent to US$ 1.63 billion and made up articles excluding bed wear and towels by 6.4 percent to US$ 584.7 million during the year.
In addition, exports of carpets, mats and rugs also decreased by 8.8 percent year-on-year to US$ 120.7 million during the period.
During the fiscal year, Pakistan imported US$ 2.18 billion worth of textiles, which is 18.6 percent lower than previous year’s imports of US$ 2.68 billion. 
Textile machinery imports for the period decreased by 2.67 percent from previous year’s US$ 456.7 million to US$ 444.5 million during last fiscal, due to reduction in external demand, drop in export prices and the energy issues confronting the textile industry.

Fibre2fashion News Desk - India

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