PAKISTAN: Clothing exports fall 3.2% in fiscal 2008
Pakistan's textiles and clothing exports during fiscal 2008 (July 2007 to June 2008) dropped by 2% in value terms to US$10.56bn compared with US$10.78bn during previous year.
Exports of woven ready-made garments declined by 3.2% to US$1.5bn, cotton yarn by 9.4% to US$1.3bn, bed wear by 5.4% to US$1.9bn and cotton cloth by 4.6% to US$1.9bn.
In volume terms the decline is even steeper, with exports of woven ready-made garments down by 13%, bed wear by 9%, cotton cloth by 13%, and cotton yarn by 16%.
However knitwear garments exports increased by 2% to US$1.8bn in value terms, and by 2.5% in volume terms during the period.
Footwear exports increased by 8.2% to US$124m but decreased in volume by 10% to 14m pairs.
High input costs and a shortage of energy have badly affected exports of textile and clothing from Pakistan.
The interest rate has gone up by 35%, cotton prices have surged by 42% during the last six months, and the rate of inflation in the country reached to 17%.
By Ahmed Abdullah.
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