Pakistan’s textile exports grew a staggering 26 per cent to $1.503 billion in Q1 FY22. Textile exports in August shot up 45 per cent to $1.5 billion in comparison to $1billion in August 2020. As per a report by the Global Village Space, Pakistan’s textile sector is effectively utilizing a competitive power tariff at the rate of 9 cents per kWh and gas at $6.5 per mmBtu for the last two years and this package has now been extended to cover the length of FY22. Prime markets for Pakistan’s textile goods are the North America and European countries. Easing of COVID-19 induced lockdowns in these countries is aiding to a rise in textile exports from Pakistan.
As per Pakistan Bureau of Statistics, ready-made garments exports surged 22.57 per cent in value, and 21.63 per cent in quantity during the starting months of the first quarter of the current fiscal year. Knitwear exports surged 34.12 per cent in value and 14.22 per cent in quantity, while bed wear increased by 24.5 per cent in value and approximately 23 per cent in quantity. Towel exports rose by 20.67 per cent in value and 14.59 per cent in quantity and cotton cloth exports registered an increase by 24.74 per cent in value and dipped by 76.51 per cent in quantity.