Textile exports jump 8pc in 7MFY21

Published February 18, 2021
The improvement in the value-added sector helped increase overall exports by 5.62pc to $14.25bn on a year-on-year basis. - AP/File
The improvement in the value-added sector helped increase overall exports by 5.62pc to $14.25bn on a year-on-year basis. - AP/File

ISLAMABAD: Textile and clothing exports increased over eight per cent to $8.76 billion on a year-on-year basis in the seven months of the current fiscal year, according to data released by the Pakistan Bureaus of Statistics on Wednesday.

The July-January figures showed that growth in textile and clothing exports came from the value-added sector.

In January, the export from the sector posted 10.79pc growth to $1.32bn as against $1.19bn over the corresponding month of last year.

The improvement in the value-added sector helped increase overall exports by 5.62pc to $14.25bn on a year-on-year basis.

Commerce Adviser Razak Dawood told Dawn that the growth was the outcome of the policy measures that the government took in the last over two years. Prior to the PTI government, Mr Dawood said, industries were closing down in Faisalabad.

He went on to recall the measures like abolishing of duty and taxes on industrial raw materials as well as paying off past pending refunds to exporters. The devaluation of the rupee and lower interest rate accelerated industrial growth, especially in the export-oriented industries.

Mr Dawood said that it was his government’s policy to provide uninterrupted electricity and gas to the export sector.

On the issue of delay in textile policy, the adviser said that the government is looking into various options on how to support small exporters. The delay, he added, is only because of this reason.

The government has decided to announce a five-year textile policy laden with over an Rs1 trillion support for the sectors.

Product-wise details reveal exports of knitwear increased by 18.74pc in value quantity, followed by 15.91pc in value of bedwear, respectively. Foreign sales of readymade garments rose by 5.48pc in value, while proceeds from towels inched up by 19.91pc in value during the July-January period.

Pakistan Apparel Forum Chairman Jawed Bilwani told Dawn that the growth in textile sector was mainly driven by higher-than-expected orders received by Karachi-based exporters.

He said uninterrupted gas supply to the industries in Karachi was one of the factors that boosted exports.

According to the PBS data, the export of cotton cloth dipped by 8.63pc between July and January this year from a year ago, followed by cotton yarn 23.97pc, and raw cotton by 96.27pc.

In the non-value-added sectors, the export of yarn other than cotton was up by 4.63pc, tents, canvas 48.95pc, art and silk 0.45pc, made-up articles excluding towels, bedwear 18.01pc and other textile products 37.75pc during the period under review.

Published in Dawn, February 18th, 2021


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