Pakistan has signed an agreement with Tadjikistan and Kirghizistan at the beginning of December to enhance the countryâ€™s energy supply. With the improvements underway, Pakistan is looking to increase its textile exports over the next nine years, and hopes to increase 2013â€™s â‚¬466m profit further with predictions for $26bn profit in textile exports by 2023.
Attention to textile exports is vital for Pakistanâ€™s growth, as the country is ranked as the 4th largest producer of cotton in the world. Backing is being provided by the International Monetary Fund, which is urging the country to make improving its energy supply a priority. Developments in the industry will pave the way for proposals to create 10m new jobs.
Plans have been underway to improve the textile industry for some time. In 2013 the government aimed to increase the countryâ€™s profit from exports by $1bn. This turned out to be successful, as the first nine months of 2014 saw exports to the European Union reach $900m, a welcomed increase with 2013 profiting an increase of 29% from 2012.
According to Pakistan Bureau of Statistics, January and Mayâ€™s export profits increased by 12.89%. Knitwear exports and readymade garments rose by 11.68% and 9.74%.
With plans now set in place to focus on the countryâ€™s energy supply and textile exports, Pakistan is hopeful that 2014â€™s success will be mirrored - a powerful start to the New Year.
Pakistan is aware that the country needs to focus on its textile exports in order to improve the countryâ€™s finances.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide