Industry And Cluster | News & Insights

Textile exports increased by 15% in July

Published: August 27, 2021
Author: Manali bhanushali
Pakistan’s textile and apparel exports increased by 15.61 percent in the first month of this fiscal year to $1.471 billion, up from $1.272 billion in July 2020, according to statistics provided by the Pakistan Bureau of Statistics on Thursday.
The relaxation of trade restrictions in North American and European nations, which are major markets for Pakistani textiles, would assist boost exports.
The demand for textiles collapsed during the first wave of Covid-19, but it recovered in the outgoing fiscal year. The government has drastically reduced duty and taxes on imports of several hundred raw materials to bring down the input cost of exportable products. In July, ready-made garments exports jumped by 9.83pc in value and in quantity by 8.23pc.
Cotton yarn exports surged by 48.49pc, while yarn other than cotton rose by 61.11pc. The export of made-up articles — excluding towels — rose by 10.33pc and tents, canvas and tarpaulin dipped by 44.94pc during the month under review. To bridge the shortfall in the domestic sector, the industry imported 49,170 tonnes of raw cotton in July against 32,825 tonnes last year.

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