ISLAMABAD, Jan 22: Country’s textile and clothing exports posted a growth of 8.55 per cent during the first half year of the current fiscal year from a year ago.
The overall increase in exports was the outcome of continued rise in export of these products since September 2012 owing to a slight surge in demand from key markets of Europe and United States, suggested data of Pakistan Bureau of Statistics released on Tuesday.
In absolute terms, export proceeds of textile and clothing sector reached $6.458 billion in July-December period this year as against $5.950 billion over the corresponding period of last year, reflecting an increase of 8.55 per cent.
On monthly basis, export of textile and clothing witnessed a growth of 12.48 per cent growth in December over the corresponding month of last year.
It posted a hefty growth of 23.54 per cent in November from a year ago. The growth in export was 10.54 per cent in October, and 12.91 per cent in September.
The growth is mainly driven by substantial increase in export proceeds of ready-made garments, towels and other low value products, such as cotton yarn and cotton cloth, but export of raw cotton witnessed a decline in December over the previous year.The increase in export of textile and clothing sectors resulted in an overall growth in exports of the country by 7.58 per cent to $12.051 billion in July-Dec period this year as against $11.201 billion in the corresponding period of last year.
A sector-wise analysis showed that export of ready-made garments went up by 13.292pc, knitwear 0.19pc and towels 12.77pc in first half this year over the corresponding period of last year.
Export of low value-added products, such as cotton yarn was up by 39pc, cotton cloth 12.08pc, yarn other than cotton yarn 53.94pc, made-up articles 6.89pc and other textile material 62.95pc in July-Dec this year over same months last year.
Industry sources said consistent supply of gas in July-Dec period to textile sector produced the desired results.
The growth in yarn and fabric exports was mainly because of improved energy supply.
The full capacity utilisation of production caused growth in export of home textile-- towels and bed-wear as well.
This shows that in case of uninterrupted supply of energy, export of textile products would increase manifold.
Contrary to this, over 18.67pc increase was also witnessed due to rupee depreciation against the dollar in the past few months.
Statistics shows that exports of raw cotton declined by 51.46 per cent, cotton carded 85.13 per cent, bed wear 7.16 per cent, art and silk 19.69 per cent, respectively during the July-December period this year over last year.