ISLAMABAD: Pakistan’s export of textile and clothing products witnessed a growth of over six per cent in the first five months of the current fiscal year from a year ago.
Export proceeds from these sectors rebounded following a slight deceleration in export of raw cotton and low value-added products in the pervious months, showed data of Pakistan Bureau of Statistics here on Friday.
In absolute terms, export of textile and clothing reached $5.684bn in July-Nov 2013 from $5.361bn during the corresponding months of last year.
The government expects hike in growth from these sectors from January 2014 onwards following announcement of duty-free facility by the European market under the GSP Plus.
The products, which witnessed a negative growth in July-Nov 2013 over the same months last year, are cotton yarn, cotton carded, yarn other than cotton yarn, towels and tents.The growth in exports in the months under review was mainly driven by bedwear, garments, knitwear, cotton cloth and made-ups.
Depreciation of Pakistani currency is also one of the pushing factors in export proceeds during the first five months of the current fiscal year from a year ago.
In terms of rupee, export proceeds witnessed a growth of 16.56pc in July-Nov 2013 this year from a year ago.
A sector-wise analysis showed that export of low value-added products, such as cotton cloth, was up by 3.49pc; made-up articles excluding towels 13.68pc and other textile material 14.17pc during the months under review over the corresponding months of last year.
In the value-added sector, export of bedwear increased by 20.37pc, knitwear 2.40pc and readymade garments 5.47pc during the months under review over last year.
Statistics showed that export of raw cotton witnessed a growth of 63.09pc in the months under review over last year. Industry sources said that consistent supply of gas during the period under review to textile sector produced the desired results, especially in the Punjab.
The growth in yarn and fabric exports was mainly because of improved energy supply.
Total export proceeds grew 3.11pc to $10.367bn in July-November 2013 from $10.054bn over the corresponding period of last year.