According to a recent data, India and Bangladesh are the main buyers of Pakistani cotton as textile mills were mainly purchasing cotton from Pakistan for the their raw material requirement. Officials said that Pakistan’s textile exports went up by 7.2 per cent to $1.1 billion in February as against the same period last year. Pakistan’s cotton yard exports posted a huge growth of 54.7 per cent in February.
Due to the depreciation of Pakistani rupees against the dollar by 10 per cent cumulatively from June last year, the margins of textile sector also increased.
The Pakistan Bureau of Statistics (PBS) said on Thursday that the increase in Pakistan’s overall textile exports was attributed largely to the surge in non-value added exports which were bolstered by 17.4 per cent in February against the same month last year and 13 per cent when compared with the previous month (January) to $299 million.
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