PAKISTAN: Knitwear and garments drive export growth
Exports of ready-made garments jumped 41.7% to PKR14.87bn in October
Pakistan's knitwear and ready-made garment exports continued to rise during October on the back of increased demand from Europe and the US.
Knitwear exports rose 14.4% to PKR16.91bn (US$176m) in October compared to the same period last year, according to the Pakistan Bureau of Statistics. Exports of ready-made garments jumped 41.7% to PKR14.87bn during the same period.
Cotton cloth exports were up 27.6% to PKR21.16bn, while cotton yarn exports increased 41.3% to PKR16.28bn against the same month last year. Total exports rose 17.54% to PKR192.2bn in October.
Exports of knitwear climbed 4.9% from September to October, while ready-made garments increased 11.9% month-on-month.
Improved domestic energy supplies and a waiver in EU import duties have continued to support the growth in shipments.
Total exports from Pakistan increased 14.6% to PKR776.8bn between July and October, compared to PKR677.8bn the year before. The fiscal year 2013 runs from July 2012 to June 2013.
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