Home Textile Textile exports remain flat at $11.1 billion despite stimulus

Textile exports remain flat at $11.1 billion despite stimulus

52

In the first 10 months of the current FY 2018/19, textile exports remained flat at $11.1 billion as compared to the same period last year. However during the same time period, due to rupee devaluation, value added sector has shown improvement.

During the period under review, according to PBS, knitwear, bed-wear and readymade garments exports have increased by 8.7pc to $2.3 billion, 2.4pc to $1.9 billion and 3.2pc to $1.9 billion respectively.

In July-April, exports of knitwear, bed-wear and readymade garments, in terms of quantity, also increased 15.8, 10.11 and 29 pc YOY.

However, during the months of July-April of the current FY, cotton cloth exports fell 2.7pc to $1.7 billion. Cotton yarn exports declined 15.7pc to $941.3 million, while export of raw cotton slid 67.2pc to $18.5 million.

The last two months of the current FY are important to underpin fragile external account sector through pushing up textile exports, which account for more than 60pc of the country’s total exports. Textile exports managed to fetch around $13.5 billion in the last FY on Rs180 billion incentives in form of rebates and duty concessions to the export-oriented sector granted by the previous government. That was up 9pc from $12.4 billion from the previous FY.

LEAVE A REPLY

Please enter your comment!
Please enter your name here