Pakistan textile exports touch $1.11bn in the month of August 2015

Pakistan textile exports registered an increase of 11.2 percent, a $1.11 billion in the month of August 2015 as compared to $998 million during the same period of 2014, as per data released by the Ministry of Textile Industry. According to data except cotton yarn all major textile items registered significant increase in the month of August with respect to quantity and value as well.

Ministry officials and industry stakeholders termed it a cyclical increase while saying that next month exports would determine the actual situation. They said that power and gas supply remained the same in the month of August as in July.

Raw cotton worth $17 million was exported in August 2015 against $16 million during the same period of last year, registering an increase of 7 percent; cotton year export dropped by 7 percent from $159 million in August 2014 to $138 million in August 2015, cotton cloth export increased from $192 million to $198 million (3 percent), knitwear garments increased from $174 million to $211 million (21 percent), readymade garments increased from $135 million to $176 million (30 percent), bed wear from $153 million to $179 million (17 percent), towels from $50 million to $64 million (28 percent) and others from $119 million to $127 million (6 percent) during the period under review.

The data also shows a significant increase in the quantity of exported textile items as raw cotton exports increased by 38 percent, cotton yarn by 9 percent, knitwear garments by 34 percent, readymade garments by 13 percent, bed wear by 24 percent and towels by 22 percent, however cotton cloth exports dropped by 11 percent.

Textile exports increased by 8 percent as compared to $1.02 billion in the month of July 2015 however it declined compared to $1.16 billion in July 2014.

Chairman Pakistan Readymade Garments and Manufacturers and Exporters Association (PRGMA), Ijaz Kokar said sometimes vessels are stuck at ports however as more vessels get earlier clearance next month exports would increase.

The industry is waiting for a relief package from Prime Minister Nawaz Sharif which would help to boost textile exports.