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Textile exports record growth

20
May '10
As per data revealed by the Federal Bureau of Statistics (FBS), Pakistan's textile exports, during July-April 2009-10 recorded an increase of 7.04 percent, reaching $8.461 billion from a figure of $7.905 billion, registered in the same period last year.

Also, the textile exports on a year-on-year (Y-o-Y) basis increased to $871.851 million in April from $714.93 million during the same period last fiscal. Thereby, indicating an increase of 21.95 percent.

According to experts, since the key contributors in the overall exports of textiles are raw materials, the growth of value-added goods was facing a bleak future.

During the period under consideration, overseas sales of raw cotton witnessed growth of 140 percent amounting to $194.154 million from $80.835 million.

Likewise, overseas sales of cotton yarn and other yarn witnessed a hike of 32.13 percent and 103.53 percent, amounting to $1.21 billion and $40.79 million, respectively, as compared to $916.461 million and $20.046 million, respectively, in the previous fiscal.

Also, for the period under consideration, owing to lesser production of cotton in China, they purchased cotton yarn from Pakistan. Due to this China continued to remain the key importer of Pakistani cotton.

Moreover, recovery of international economic meltdown resulted in an increase in the overall demands, which further increased the exports during April.

Currently, textile exports amount to around 53 percent of the overall exports, despite the fact that, the local industry has been facing severe challenges in its pathway to growth. The country's total exports during July-April 2009-10 were registered at $15.884 billion.

While analyzing overseas sales on product-basis it was found that, readymade apparels witnessed a hike of five percent reaching $1.059 billion from $1.007 billion recorded in the previous year.

Whereas, overseas sales of knitwear and home furnishings recorded a marginal fall in the first ten months of the current financial year, touching $1.424 billion and $1.4 billion, from its previous figures of $1.434 billion and $1.408 billion, respectively.

Fibre2Fashion News Desk - India


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