Page 9 - TEXtalks March/April 2022

09

Textile exports increase by

26.08% to $12.607 bln

in 8 months

The exports of textile commodities increased by The only textile commodity that witnessed negative
26.08% during the first eight months of the current growth in trade was tents, canvas, and Tarpaulin,
fiscal year (2021-22) compared to last year's the exports of which decreased by 12.48%, from
corresponding period. The textile exports were $82.231 million to $71.970 million. Meanwhile, on a
recorded at $12,607.824 million in July-February year-on-year basis, textile exports increased by
(2021-22) against the exports of $9,999.923 million 35.72% during February 2022 compared to the
in July- February (2020-21), showing growth of same month of last year. The exports during
26.08%, according to the latest PBS data. The February 2022 were recorded at $1,674.785 million
textile commodities that contributed to trade growth against the exports of $1,234.040 million during
included cotton yarn, the exports of which February 2021. The increasing exports indicate that
increased by 34.40% from $606.690 million last the textile sector is adapting to the international laws
year to $815.375 million during the current year. and providing exceptional quality, building the trust
of international buyers.
Likewise, the exports of raw cotton increased by
1007.76%, from $0.593 million to $6.569 million, The increased exports is a piece of good news for
cotton cloth by 28.23%, from $1,235.301 million to the country, and the credit goes to the textile sector
$1,584.063 million, cotton (carded or combed) by trying hard to uplift the country's GDP. The newly
100% to $1.611 million from zero exports last year,
yarn (other than cotton yarn) increased by 105.59%, approved Textile and Apparel Policy (TAP) 2020-25
from $20.332 million to $41.801 million. In contrast, envisages doubling its export target up to $40
knitwear exports increased by 33.86%, from billion in the coming years. The policy declares a
$2,476.009 million to $3,302.250 million. In addition, three-year target as textile exports will be jacked up
the exports of bed wear increased to $2,186.426 to $27 billion in 2022/23, $34 billion in 2023/24, and
million from $1,816.882 million, showing growth of around $42 billion in the fiscal year 2024/25.
20.34%, towels' export increased by 17.26%, from Therefore, joint efforts of all the stakeholders with
$610.685 million to $716.114 million, ready-made such good initiatives will certainly help Pakistan's
garments by 25.11%, from $2,011.654 million to economy since the textile industry comprises 46%
$2,516.762 million, art, silk and synthetic textile by of the total manufacturing sector. It employs around
33.06%, from $229.845 million to $305.833 million, 25 million Pakistanis and contributes 8.5% to the
made-up articles (excluding bed-wear and towels) GDP. Furthermore, the textile policy will encourage
by 9.91%, from 505.988 million to $556.108 million.
In contrast, the exports of all other textile materials foreign investments in Pakistan, and it will create
increased by 21.86%, from $412.713 million to more employment opportunities and develop new
$502.942 million. markets.

March/April 2022