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Pak value added textile exports achieve growth with government support

YarnsandFibers News Bureau 2017-07-21 17:00:00 – Islamabad

Textile and clothing exports stood at $1.21bn in June, showing an increase of 24pc over the corresponding month a year ago. As per Pakistan Bureau of Statistics (PBS) reports on Thursday, these exports posted a paltry growth of 0.04 percent to $12.45 billion in 2016-17. Data showed the readymade garments sector was the only bright spot.

Its exports grew 6pc year-on-year to $2.31bn in 2016-17. Garment exports witnessed a growth of 6.13pc in terms of quantity. These exports also posted a growth of over 20pc in June.

Exports of another value-added product, knitwear, posted a negative growth of 0.07pc to $2.36bn. However, knitwear exports recorded a growth of 0.66pc in terms of quantity.

In the last fiscal year, exports of bed-wear increased 5.6pc in value and 7.37pc in quantity. Exports of towels fell 2.04pc year-on-year in value and 0.87pc in quantity in 2016-17.

The value-added sector achieved growth because of the government’s support. Another reason for the rise in exports of value-added textile products was preferential access to the 28-nation European Union under the GSP+ scheme.

Exports of intermediate commodities like cotton yarn dropped by 1.69pc in value, but grew 7.49pc quantity-wise. One reason for the drop was sluggish Chinese demand for yarn and fabric.

Exports of low value-added products, such as cotton-carded, edged up 62pc in value and 51pc in quantity. Tents and canvas exports grew 57pc in value while those of made-up articles, excluding towels and bed-wear, up 2.62pc. Exports of yarn other than cotton yarn fell 25pc in value and 30pc in quantity.

However, cotton cloth exports declined 4.23pc in value, but increased 7.49pc in terms of quantity. Exports of raw cotton dropped 44pc in value and 49pc in quantity in 2016-17.

Foreign sales by the textile group, which constitutes a 60pc share in the country’s overall exports, have remained stagnant at $12bn over the last few years.

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