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Textile exports plummet, registering a negative growth

May '08
Decline in exports of textile products have remained persistent in their efforts to cause damage to the industry. In the period between July-April of the current financial year, exports dropped by 2.54 percent to reach US $8.875 billion compared to the same period last year.

It was not surprising to see that almost all the products in the textile category saw exports plummet, particularly in the value-added sector. As a result the overall trend turned out to be negative.

However, in the month of April, export of textile products improved remarkably by 1.65 percent to $872.103 million over $857.967 million of the same month in the last year. Again, when compared to March this year, exports dipped by over 5.59 percent with 923.730 million worth of textile products were exported.

Individually, export of cotton cloth, cotton carded and yarn material also declined by 9, 8.44 and 3.22 percent respectively during the period under review. On the other hand, export of knitwear and raw cotton saw a modest growth of 1.65 and 28.45 percent respectively.

Mr Shabir Ahmed, Chairman of Pakistan Bed Wear Export Association, told Fibre2fashion, “Export of bed wear also registered a negative decline. This is mainly due to high prices of raw material and labor wages and consequently high cost of production. In fact, the manufacturers also have to bear the pressure of high rates of petrol, electricity and gas. We are awaiting favorable measures from Government, especially in terms of reduction in the cost of necessary raw materials.”

Mr Shabir also reveled statistics saying, “In 2006 total export for Bedwear was $2.1 billion and the Government set a target of $2.3 billion for 2007. Unfortunately we were able to export only 1.9 billion and the exports will decline further to $1.8 billion in 2008.

For further statistics click here

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