Pakistan sees surge in textile exports 7.17pc to $8.8bn

Pakistan exported textile and clothing products worth $8.8 billion during July-February period of the year 2017-18 as against $8.2 billion of the corresponding period of the previous year, according to the Pakistan Bureau of Statistics (PBS). Recording textile exports growth of 7.17 percent during eight months (July to February) of the ongoing financial year (2017-18).

The growth in textile and clothing products exports enhanced the country’s overall exports to $14.8 billion during July-February of 2017-18 as compared to $13.3 billion of the corresponding period of the last year.

According to the PBS, the main driver of growth was the value-added textile sector. Exports of ready-made garments went up by 13.08 percent in the first eight months of the ongoing financial year. Similarly, exports of knitwear increased by 13.3 percent during the period under review. Exports of bedwear went up by 4.51 percent in value.

Similarly, exports of made-up articles, excluding towels, increased by 7.32 percent. Art, silk and synthetic textile exports grew by 80.08 percent during the period under review. Exports of cotton yarn witnessed an increase of 1.87 percent and exports of cotton cloth recorded minor growth of 0.04 percent. However, exports of cotton carded tumbled by 97.87 percent.

The Ministry of Commerce said that these results have been achieved due to the export-friendly policies and incentives of the government and the renewed efforts towards seeking better market access by the Ministry of Commerce. The positive trend in the international demand and exchange rate correction are also expected to help sustain this rising trend in the coming months.