Tuesday, November 28, 2023

Textile, clothing exports reaches up to $13.7bn

Pakistan’s exports of textile and clothing sectors reported that exports reached $13.7 billion this year, representing a growth of nearly 19% in the 11 months of the current fiscal year (11MFY21) compared to the same period in the last year.

Total textile and clothing exports increased by 18.85% to $13.748 billion between July and May this year, compared to $11.567 billion in the corresponding FY20 period.

One of the reasons for the growth in these sectors is due to the low base last year when export-oriented industries remained closed due to the blockade of Covid-19 and the cancellation of orders from international buyers.

Readymade garment exports increased 14.35% to $2.706 billion in FY21, compared to $2.367 billion in the corresponding months last year. Knitwear exports rose 32.70 percent to $3.414 billion from $2.572 billion in the corresponding months of last year. Bedding exports increased 24.60 percent to $2.472 billion this year from 1.984 billion in FY20.

Similarly, in the value-added leather sector, exports of leather clothing increased by 9.92% and leather gloves by 19.08%, respectively. Rawhide exports declined by more than 17% during those months.

In the non-value-added sector, cotton fabric exports registered negligible growth of 0.97% on FY21 a year ago. Likewise, exports of cotton yarn decreased by 1.60% and raw cotton by 96.51%.

Moreover, A 28.54 percent growth was seen in towel exports to $838.507 million in Y21 from $652.351 million last year.

Carded cotton exports increased 3.17% and yarns excluding cotton yarn 20.24% during the period under review.

Pakistan is a leading global surgical instrument supplier. However, these instruments are re-marketed in western countries with famous brands. As a result, the export value of these products remains much lower.

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