Pakistans textile and clothing exports grew 5.3% last fiscal

Pakistan's textile and clothing exports grew 5.3% last fiscal

Pakistan's textile and clothing exports grew 5.3% to US$13.74bn in the last fiscal year, thanks primarily to the GSP Plus status granted to the country by the European Union (EU).

According to the latest data released by the country's bureau of statistics, exports of woven ready-made garments were up by 8.3% to $1.95bn in the period from July 2013 to June 2014, while knitted garments rose 10.8% to $2.26bn.

Exports of cotton cloth climbed 3% to $2.77bn, but synthetic textile items dropped 5.5% to $383.48m. Shipments of cotton yarns were also down, by 11.1% to $2bn.

Footwear exports, however, surged by 13.7% to $118.7m, boosted by a 17.5% rise in exports of leather footwear to $98.1m during the period.

Pakistan's accession to the EU's GSP Plus trade programme become effective on 1 January.