ISLAMABAD, March 22: The textile and clothing exports declined by 2.92 per cent to $6.831 billion during the first eight months (July-Feb) of the current fiscal year from $7.03 billion over the same period last year, Statistics Division said on Saturday.
The overall dismal performance of the textile and clothing sector showed that the annual export target of $19.2 billion would be a far cry. Even the exports of the textile and clothing sector would not reach the last year’s export proceeds to cross the psychological barrier of $10 billion by end June 2008.
Statistics showed that import of textile machinery declined by 21.7 per cent during the first eight months over the last year. The decline in import of textile machinery had been witnessed for the last few years, while the government had dolled out Rs30 billion taxpayers’ money to the sector to improve its competitiveness.
Product-wise details showed that the export of readymade garments witnessed a growth of 7.35 per cent over the same period last year. However, the knitwear exports fell by 8.46 per cent during the July-Feb period over the last year.
Exports of raw cotton, cotton yarn, cotton cloth, cotton carded and yarn other than cotton yarn declined by 2.47pc, 7.03pc, 10.09pc, 41.57pc and 19.45 per cent, respectively, during July-Feb over the last year.
Exports of bedwear, towel and tents dipped by 4.72 per cent, 3.78 per cent and 1.19 per cent, respectively. However, exports of art, silk and synthetic textile, made up articles, excluding towels, went up by 31.49 per cent and 15.69 per cent.
Pakistan is also facing tough competition from products, particularly from the least developed countries, which are enjoying zero customs duty in the US and EU markets.
