The Chinese market will absorb Pakistan’s textile yield significantly and support textile sector for its further rehabilitation in wake of COVID-19.

Gwadar Pro stated that the global economic recovery has been slow and gradual, while the Chinese economy has recovered steadily. The textile imports volume of China rose 6.5 per cent year-on-year in July, well ahead of market expectations.

Subsequently, China’s textile demand has continued to pick up significantly in August. as the orders of autumn and winter season fabric increasing, the related demands of textile have improved. In July, Pakistan exported 36,600 tonne of cotton yarn. Meanwhile, Pakistan exported $959 million of textile and clothing, only a year-on-year decrease of 5.44 per cent.

This followed a 36.72 per cent year-on-year fall in May and a 64.51% year-on-year fall in April.

According to a report released here this week, at present Pakistan’s domestic textile industry has fully recovered. Its cotton price has continued to rise in the latest week as demand from downstream businesses increased.

Textile and clothing factories have been resumed to full capacity production. Comparing with the same period in last year, the textile and garment exports have rose 14.4 per cent in July.

As a result, domestic and export prices of cotton have risen by more than 2 per cent in the past two weeks.