Pakistan textile and clothing exports touches $10.364 bn in first 9 months of fiscal year

Pakistan textile and clothing export has touched $10.384 billion in the first nine months of the current fiscal year (July-March period), a growth of seven percent over the corresponding period last year as per Pakistan Bureau of Statistics. The increased growth was seen mainly due to rise in export of raw cotton and low value-added products. Raw cotton export witnessed an extensive growth of 43.48percent.

Depreciation of Pakistani currency was also one of the driving factors in export proceeds during the first nine months of the current fiscal year from a year ago. In terms of rupees, export proceeds witnessed a growth of 17.19pc in July-March period this year from a year ago.

But in the last few months due to power issue faced by the textile sector, especially in the Punjab, the units cannot perform to the fullest capacity due to shortage of electricity and gas problems as the result the growth of textile and clothing stagnated around seven percent.

On monthly basis, growth in exports of textile and clothing has been low of over 6pc in March 2014 over the corresponding month of last year mainly because four products of the textile and clothing categories, cotton yarn, cotton carded, towels and tents witnessed negative growth in exports. Exports of towels dropped by 2.55percent, cotton yarn by 5.93percent and tents exports plunged drastically by 23.84percent.

Export of low value-added products have shown a upward trend , such as cotton cloth, rose by 6.99pc, yarn other than cotton yarn 10.02pc, and made-up articles excluding towels, bed wear 17.94pc during the months under review over the corresponding months of last year.
In the value added sector, export of bed wear increased by 21.39pc, knitwear 10.21pc and readymade garments 9.36pc.

Total export proceeds witnessed a growth of 5.92percent to $19.082billion in July-March 2014 from $18.015billion over the corresponding period of last year.

According to Federal Textile Minister Abbas Khan Afridi, the textile and clothing industry is likely see a growth increase by 10 to 15 percent in the next two or three months.

As the textile industry is working on a new textile policy envisaging measures for expansion of industry to deal with the rising demand because of the GSP+ scheme.

Moreover with the consistent supply of gas to textile sector will definitely produce the desired results.