Pakistan’s textile exports witnessed a nominal decline of 2.2 per cent to $1.09 billion in the first month of the current fiscal year as against $1.116 billion in the corresponding month of the last fiscal year. Textile exporters in the country have sought incentives from the government to boost exports and withstand global slump.
According to official figures released by Pakistan Bureau of Statistics (PBS), the exports were slightly up i.e. 0.82 per cent when compared with $1.08 billion in the last month. Experts said that due to recession in international markets the demand for Pakistan textile has reduced.
Prices of Pakistan-made textile commodities had decreased in the international market, which is also one of the reasons for reduction in exports, said an expert. The country’s textile exports came down by 10.38 per cent falling from record high of $13.788 billion in 2010-2011 to $12.356 billion in 2011-2012.
Industry sources said that the fall in textile exports was mainly internal due to the worst energy shortage ever experienced by the country. The commodity-wise exports in textiles showed that export of raw cotton declined sharply by 86.76 per cent to $1.5 million during July 2012 as against $11.524 million in July 2011.
Foreign buyers, however, showed interest in cotton yarn as export of this commodity went up by 40.43 per cent to $172.2 million as against $122.62 million in the previous year. The export of cotton cloth came down by 15.28 per cent to $201 million this July from $237 million in July 2011.
The export of finished products also fell as Pakistan fetch $197.28 million foreign exchange reserves in knitwear exports as against $228 million. Similarly, bed wear exports came down by 14.61 per cent to $156 million as against $183.44 million in the previous corresponding month. In July 2012, the total exports of the country stood at $2.057 billion, which was lower by 4.84 per cent from $2.157 billion in the corresponding month of last fiscal year.