Pakistan’s knitwear exports have gone up by 21 per cent year on year. Bedwear exports have risen by seven per cent. Readymade garment exports have risen by nine per cent.
These three segments outperformed all other products of the textile sector.
Textile exports have risen by seven per cent year on year. This growth was primarily led by the value added segment, which rose 12 per cent year on year.
The expansion in value added segment exports is because of the appreciation of the euro by nine per cent and improved competitiveness post implementation of the textile package.
On the other hand, cotton yarn exports fell by 11 per cent year on year driven by a 13 per cent year on year volumetric downturn. One possible reason is soaring raw material costs for the spinning segment as domestic cotton prices have shot up following a lower than targeted domestic crop.
On a cumulative basis, textile exports were up eight per cent year on year, primarily driven by a 11 per cent year on year hike in the value added segment. Basic textile exports followed with a meager one per cent year on year increment.
Pakistan is the fourth largest cotton producing country in the world.