Textile exports rose 2.9% for the eight months to February

Textile exports rose 2.9% for the eight months to February

Pakistan's textile, clothing and footwear exports have all risen during February.

New data from the Pakistan Bureau of Statistics has shown overall textile exports in the month rose 2.9% to US$1.09bn. Ready-made garment exportsincreased by 5.9% to $225.89m from $213.25m a year earlier. Knitwear exports were up 11.45% to $212.4m, but cotton yarn exports fell 10% to $10.8m.

Footwear exports rose 3.78% to $11m. Leather exports, however, were 8.4% down year-on-year to $38.5m.

Local press, citing Mirza Baig, senior vice president of the Federation of Pakistan Chamber of Commerce and Industry, said the boost came from an easing of duties on imported raw materials.

For the eight-month period from July to February, textile shipments were 1.38% higher to US$8.9bn. Knitwear exports were 11.36% higher at 1.9bn, and readymade garment exports also grew by 2.72% to $1.7bn.

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.

The 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.