Pakistan’s T&C exports cross $10 billion?

The exports of textiles and garments from Pakistan earned US$ 10.207 billion in the first nine months of fiscal year 2014-15 that began on July 1, 2014, according to the data released by the Pakistan Bureau of Statistics. However, the value of textile and apparel exports during the nine-month period was 1.57 per cent lower compared to exports of $9.136 billion in the corresponding period of previous fiscal.

In July-March 2014-15, Pakistan’s knitwear exports grew by 7.54 per cent year-on-year to $1.791 billion, while exports of non-knit readymade garments were up by 8.51 per cent to $1.548 billion. Raw cotton exports fetched $142.031 million in the nine-month period, showing a drop of 21.94 per cent compared to exports of $181.956 million made during the corresponding period of previous fiscal. Likewise, cotton yarn exports fell by 7.48 per cent to $1.46 billion, as against exports of $1.578 billion made during the same period last fiscal. Exports of cotton fabric dropped 12.62 per cent to $1.859 billion during the period under review, while bedwear exports declined by 2.4 per cent to $1.569 billion, the data showed.

The increase in exports of garments along with a decline in exports of raw cotton, yarn and fabric, however, is a good sign for Pakistan’s value-added textile industry, as the country is exporting more finished goods compared to last fiscal. On the other hand, Pakistan’s import of synthetic fibre surged 25.1 per cent year-on-year to $391.594 million, whereas imports of synthetic and artificial silk yarn witnessed a growth of 8.39 per cent to register $492.231 million. This shows that textile enterprises have increased the use of synthetic fibre and yarn in recent months.

Meanwhile, the value of textile machinery imports made by Pakistan during the period decreased by 21.22 per cent year-on-year to $336.097 million, which points at lower intent of entrepreneurs to invest in the industry. In 2013-14, Pakistan textiles and garment exports grew by 5.3 per cent year-on-year to US$ 13.738 billion, with knitwear and woven garment exports registering a growth of 10.53 per cent and 8.67 per cent, respectively.