Pakistanís textile exports stagnant; RMG marks 3.2% growth

 

Mainstay of Pakistanís economy, the textile industry of the country is in a sticky situation lately.

As per reports, in the first 10 months of the current fiscal year of 2018/19, textile exports from Pakistan remained flat at US $ 11.1 billion, as compared to the corresponding period of the previous year. And this despite Governmentís various measures to boost exports.

However, on the positive side, export of readymade garments, bedwear and knitwear registered growth in the period under review.

As per data from Pakistan Bureau of Statistics (PBS), export of RMG improved 3.2 per cent to US $ 2.1 billion, while export of knitwear exports increased by 7 per cent year-on-year to US $ 2.3 billion and, export of bedwear marked an increase of 2.4 per cent to US $ 1.9 billion.

Further, in this period, export of raw cotton declined drastically by 67.2 per cent to US $ 18.5 million while export of cotton yarn fell 15.7 per cent to US $ 941.3 million.

Exports of cotton cloth also reportedly fell 2.7 per cent to US $ 1.7 billion (in the July-April period of the current fiscal year).

It may be mentioned here that due to continuous devaluation of rupee (fell by around 20 per cent in last year alone), exporters are able to improve on their margins on exports but on the flipside cost of doing business has gone up significantly.

 

 

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