Pakistan’s textile exports for November ’17 increased by seven per cent as compared to the corresponding period last year.

The growth was led by the value added segment, which managed to counteract the effect of dampening cotton yarn and cotton cloth exports.

Knitwear exports increased by 18 per cent while readymade garments and bedwear posted 14 per cent and 12 per cent growth, respectively, on a year-on-year basis.

On the other hand, cotton yarn and cotton cloth continued their lackluster performance to post negative growth of eight per cent and seven per cent respectively on a month-on-month basis.

Even when it comes to value added segments such as readymade garments, global trends are shifting towards synthetic fibers whereas the share of cotton made products has been on a steady decline.

Players in the value added segments especially readymade garments face hurdles in remaining competitive in the rapidly transforming global markets.

Countries such as Vietnam and Bangladesh have focused on shifting their product mix in line with evolving textile consumer preferences, which have allowed them to increase their market share whereas Pakistan’s textile sector is struggling to cope. Anti-dumping and regulatory duties on raw materials used by the industry have resulted in increased cost of production for garment exporters.