During the first 11 months of the 2020-2021 fiscal year, Pakistan’s exports were $22.5 billion. Mr. Razak Dawood, Adviser to PM on Commerce and Textile, said that Pakistan’s exports could reach $25 bn by the end of this year. Mr. Razak said this in a press conference on Economic Survey 2020-21.
Textile-related products witnessed a growth of 9.1 percent during July-March FY2021. The surge in textile exports is the outcome of a series of incentives to support exporters to meet the challenges in the wake of COVID-19 and disruption in supplies. Moreover, the government’s decision to keep businesses open during lockdown provided an opportunity to secure orders diverted from economies under strict lockdown.
Higher textile exports came on the back of quantum growth in high value-added products, particularly knitwear, home-textiles (bedwear and towels), and made-up articles. At the same time, raw cotton, cotton yarn, and cotton cloth showed a declining trend. The declining share of China in the US apparel market and shifting focus from apparel to the global textile market provided some room for Pakistan and other competitors to enhance their apparel exports. In the case of home textiles (bedwear and towels), exports increased by 16.6 percent Y-o-Y to US$ 2.7 billion on the back of higher unit values.
