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Pakistan textile exports increase in FY21

Aug 17, 2021
Pakistan textile exports increase in FY21

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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