The Current Status of Pakistan's Textile and clothing Export
The export proceeds dipped in the second month of current fiscal year after posting growth in the first month. As a result of Covid-19, the demand for country’s exports has collapsed during the last five months.
It was only in February when the textile and clothing exports jumped nearly 17% on a yearly basis. This growth was reported after a long time as the past few years had been marred by single-digit increases.
However, in July-August, textile exports edged lower by 0.98% to $2.28bn, from $2.302bn in same period of the previous year.
Details showed ready-made garment exports fell by 13.74% in value while plunging in quantity by 51.83% during August. Those of knitwear dropped 10.65% in value and 27.2% in quantity, bed wear 12.29% and 25.52%, respectively.
Towel exports fell by 10.12% in value and 15.85% in quantity, whereas those of cotton cloth dipped 17.91% and 33.42%.
The government lifted the ban on exports of seven products classified as personal protective equipment (PPE) in a bid to allow manufacturers to honor international orders.
Among primary commodities, cotton yarn exports plunged by 51.36%, yarn other than cotton by 100%, made-up articles — excluding towels —5.82% and raw cotton 94.4%. On the other hand, tents, canvas and tarpaulin increased by a massive 34.07% during the month under review.
The import of textile machinery dropped by 30.27% during the second month of FY1 — a sign that no expansion or modernization projects were taken up by the industry in the given period.
The country’s textile and clothing exports tumbled over 6% year-on-year to $12.526bn in FY21, compared to $13.327bn in the corresponding period of FY20.Source: https://www.dawn.com/news/1580963