Pakistan’s textile exports slipped 0.85% year-on-year during April to US$1.13bn – but the country saw a 14.74% surge in ready-made garment exports during the month to US$231.3m.
Raw cotton exports were 281% higher year on year at US$2.8m. But cotton yarn exports fell 18.66% to $105m, while cotton cloth shipments fell 7.65% to $178m. Knitwear exports rose 4.52% to $242m.
Industry experts cited by the local Daily Times Pakistan publication blamed the poor yarn sales on a decline in yarn demand from China.
For the July-April period, textile exports were 0.02% lower at US$11.1bn.
During the first ten months of fiscal 2018-2019, ready-made garments showed positive growth being 3.21% higher year on year to US$2.2bn. Raw cotton exports for the period fell 67% to US$18.5m, while cotton yarn exports fell 15% to $941.3m. Cotton cloth shipments were 2.7% lower year on year at $1.17bn and knitwear exports were up 8.76% to $2.39bn.
Textiles and apparel contribute nearly 70% to Pakistan’s total export earnings. According to an overview of the country on the re:source by just-style strategic sourcing tool, Pakistan is the world’s fourth-largest cotton producer, one of the world’s largest cotton users, and the sixth largest textile exporter.
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By GlobalDataThe country’s current Textile Policy, which runs from 2015-2019, aims to double textile and clothing exports to US$26bn in 2019. Pakistan benefits from zero duty on exports to the EU under the GSP+ scheme – although business is hampered by safety/security issues and the sector faces mounting pressure from Asian competitors.
