Home / Knowledge / News / Textiles / Trade deficit may widen with increasing Intl commodity prices
Trade deficit may widen with increasing Intl commodity prices
01
Apr '08
With regard to the impact of rising global commodity prices and ever-growing demand for various products, the State Bank of Pakistan is expecting widening of trade deficit in the remaining part of the current fiscal year.

It has been observed that rising international commodity prices (oil) combined with failure to meet demand for supplies of crucial commodities have resulted in 21.9 percent year-on-year rise in imports during July-February 2007-08.

These high import figures virtually outperformed the 7.9 percent growth in exports during the same period.

Trade deficit was one of the direct consequences of this trend recording a US $3.5 billion year-on-year increase with ratio worsening from 6.2 percent in July-February of 2006-07, to 7.9 percent this year.

Textile exports in particular, saw a year-on-year drop of 3.4 percent. However, synthetic fabrics, ready-made garments and textile made-ups registered a growth nonetheless.

Decline in overall textile exports was attributed to supply sides constraints caused largely due to rising cost of production, increasing domestic cotton prices and tariff rates and recurrent power shortages.

Moreover, recession in US economy has also impacted the exports of textile and apparel products and thereby the overall demand.

In fact, imports are expected to increase and so will the import bill due to rising demand for agricultural and chemical products as well as for power generating machineries.


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search