Arab Today, arab today pakistan’s textile exports rebound
Last Updated : GMT 04:13:39
Arab Today, arab today
Arab Today, arab today

Pakistan’s textile exports rebound

Arab Today, arab today

Arab Today, arab today Pakistan’s textile exports rebound

Islamabad - Arabstoday

Pakistan’s export of textile and clothing rebounded in September 2012 after witnessing a slump for at least one year, mainly owing to a slight surge in demand from recession-hit key markets of Europe and United States. Textile and clothing exports witnessed double digit growth of 12.91 per cent in September from a year ago, suggested data of Pakistan Bureau of Statistics released here. The unprecedented growth was mainly driven by substantial increase in export proceeds of readymade garments, towels, and other low value products, like cotton yarn and cotton cloth, etc. Former Chairman of Readymade Garments Association of Pakistan Masood Naqi said that growth in export of value-added products was the outcome of three main factors witnessed in the past few months. He said that growth in exports was the outcome of spill over effects from China and Taiwan’s labour issue. About two or three per cent spill over from China alone was more than enough for Pakistan’s exporters to meet it. Secondly, Naqi said that the announcement of waiver on 75 products from Europe Union also encouraged European buyers to re-develop contacts in Pakistan. He said major European buyers are eying to yield benefits in case EU granted Pakistan GSP plus status in 2014. American buyers are also re-establishing contacts with Pakistan’s textile and clothing exporters after disruption in supply from Egypt. “Buyers are approaching Pakistan in bulk which is beyond our imaginations,” Naqi. As a result of performance of textile and clothing sector, overall exports also witnessed 2.95 per cent growth in the first quarter (July-Sept) this year as it stood at $3.271 billion this year as against $3.178 billion over the corresponding period last year. A sector-wise analysis showed that export of readymade garments went up by 26.5 per cent, knitwear 0.95 per cent, and towels 14.47 per cent in September this year over last year. Former chairman of All-Pakistan Textile Mills Association Gohar Ijaz said that persistent supply of gas for five consecutive days in July-September period to textile sector produced the desired results. He said that growth in yarn and fabric exports was mainly because of improved energy supply. Ijaz said that 80 per cent textile products were manufactured in Punjab. 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. However, export of raw cotton declined by 8.05 per cent in September this year. From Gulftoday

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