PAKISTAN: Textile and clothing exports rose 6% in FY
Pakistan's textile and clothing exports rose by 6% to US$13.06bn in the fiscal year that runs from July to June.
The sector's share of the country's total exports increased to 53%, according to the latest data released by the country's Federal Bureau of Statistics (FBS).
The export value of woven ready-made garments went up by 12% to US$1.81bn, knitted garments increased by 2.5% to US$2bn, cotton yarn surged by 24% to US$2.24bn, and cotton fabrics grew by 10% to US$2.69bn during the year.
By volume, cotton yarn increased by 27% to 735m kilos, ready-made garments by 12% to 28m dozen, and knitted garments by 6% to 105m dozen.
Export shipments of leather garments jumped to 923 thousand dozen, up by 11% to US$379m in the year. Footwear exports surged by 4.49% to US$104m, led by a 5% increase in exports of leather footwear and a rise of 2% in footwear made from other materials.
A spokesperson for the All Pakistan Textile Mills Association (APTMA) told just-style that textile and clothing exports are likely to grow further in coming fiscal year thanks to increased market access to the EU, the opening up of trade with India, and the depreciation of the rupee against the US dollar.
However, trade growth will depend on a reliable power supply to the industry, added Asghar Ali, chairman of the Pakistan Textile Exporters Association (PTEA).
The country aims to achieve US$25bn in textile and clothing exports in the next three years under its Strategic Trade Policy Framework.
The federal government has pledged to spend PKR315m (US$3.15m) during the 2013-14 fiscal year to establish the Pak-Korean Garments Technology Training Institute, three garment cities, and a textile city, according to sources in the country's Ministry of Textiles.
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