Pakistan textile exports increase in FY21
The pressure on the foreign reserves in Pakistan has been eased down because of the increase in the exports of textile last year.
Karachi
The pressure on the foreign reserves in
Pakistan has been eased down because of the increase in the exports of textile
last year.
As per a State
bank report, the export targets have been made because of the textile sector.
The export target has now reached $25 billion and the textile sector has shown
an increase of 21%. The textile exports have now reached $15.5 billion from $13
billion. The report also stated that among the top three exporters were that
Style Textile, Interloop, and Artistic milliners with a contribution of $428 million,
$35 million, and $330 million respectively. Artistic Milliners is said to be
the largest exporter of Denim Jeans from Pakistan.
As per the
experts, the exports from Pakistan have been majorly improved due to the
conflict between US-China. The mills in Vietnam, Bangladesh, and Singapore are
functioning at their full capacity to meet the demands.
The clients are
now shifting to Pakistan because there is no need to form
policies for exporters to attract potential importers.
Source – The News
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