Pakistan - Textile exports suffer over $650mn losses
Dated- 10 Apr , 2012 - Pakistan
Pakistan’s textile exports have suffered losses to the tune of Rs58.55bn ($650mn) in the first eight months of the current fiscal year (July-February FY12) as compared to the corresponding period last year. During the July-February FY12, textile exports were recorded at $8bn, down 7.5% year-on-year.
In the month of February alone, the exports were recorded at $1.05bn, down 12% as compared to the same month last year. According to Pakistan Apparel Forum Chairman M Jawed Bilwani, “Pakistan’s textile exports declined because of on-going energy crisis, strikes and a decline in the demand of textile products in the international market”.