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Textile exports grow 9.7pc

ISLAMABAD: Textile exports grew 9.71 per cent to $1.05 billion in November year-on-year driven mainly by value-added products, the Pakistan Bureau of Statistics (PBS) said on Tuesday.

Textile export proceeds have been growing for the past two months. Their rise is also evident in rupee terms particularly because of better prices.

Apparel Forum Chairman Jawed Bilwani told Dawn that exports rose despite the absence of the government’s support. “We are waiting for the textile package of Rs170bn,” he said, adding that the cost of production has increased manifold due to high energy prices.

However, he said liquidity issues of the exporters have been resolved to some extent due to the release of refunds.

Product-wise details show that exports of readymade garments grew 13.54pc while those of knitwear increased 12.75pc in November. Exports of bed-wear went up 3.06pc and towels 1.67pc during the month under review.

In primary commodities, the export of cotton yarn witnessed a substantial year-on-year increase of 42.08pc, cotton cloth 0.99pc, made-up articles, exclu­ding towels, 22.36pc, and tents, canvas and tarpaulin 53.82pc.

The export of raw cotton also recorded a year-on-year increase of 141pc.

One reason for the rise in exports of value-added textile products is Pakistan’s preferential access to the 28-nation European Union under the GSP-Plus scheme.

In the five months to November, the value of exported textile and clothing products fell 1.94pc to $5.122bn year-on-year.

Overall export proceeds in July-Nov fell 3.93pc to $8.19bn.

In April, the Ministry of Commerce announced a Strat­egic Trade Policy Framework, which remains to be implemented.

courtesy : dawn news



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