Pakistan Bureau of Statistics (PBS) released data showing that Pakistan’s textile exports jumped over 25pc to $14.3bn. Textile and clothing exports grew 25.43 percent year-on-year to $14.24 billion in the first nine months of this fiscal year, mainly due to a massive depreciation in the rupee’s value and a steady rise in global demand.
The government already unveiled a textile and apparel policy last month with various measures to promote products and the quality of the textile and clothing. In the budget 2021-22, the government drastically reduced duties and taxes on importing several hundred raw materials to bring down the input cost of exportable products. Data showed that ready-made garment exports jumped 26.24pc in value and 33.93pc in quantity during July-March, while the exports of knitwear edged up 34.12pc in value but dipped 4.84pc in quantity.
Bedwear exports grew 19.33pc in value and 15.01pc in quantity.
Among primary commodities, cotton yarn exports dipped 25.97pc, and those made from materials other than cotton increased by 104.5pc. The exports of made-up articles — excluding towels — rose by 10.84pc, while those of tents, canvas, and tarpaulin dipped by 7.87pc during the period under review. The export of art, silk, and synthetic textile increased by 27.63pc during the months under review. The import of worn clothing recorded a growth of 66.47pc in the first nine months of the current fiscal year from a year ago. During the nine months, the country’s overall exports posted a year-on-year growth of around 24.98pc to reach $23.35bn from $18.68bn in the same period last year.
